International Union of Marine Insurance (IUMI) president Frederic Denefle says a state-backed insurance scheme for Ukraine grain shipments is not yet available.

His comments come as two Turkish-linked ships sailed into the Ukrainian port of Chornomorsk for Ukraine’s first grain exports since the collapse of the Black Sea Grain Initiative.

Denefle, speaking at the opening of the IUMI conference in Edinburgh, Scotland, said at this moment the mainstream marine insurance market is not prepared to cover grain shipments following recent Russian drone attacks on Ukrainian export facilities.