Prometey comments on delays in unloading Ukrainian wheat at Egyptian ports

awaiting discharge. The total value of grain for which payment has not yet been processed is estimated at around $30 million. Goroyan explained that the complications stem from delays in opening letters of credit, a key financial mechanism used in international grain trade. “A letter of credit is a complex instrument. If a company has no experience with discounting, it’s better not to enter this market,” he said. He emphasized that Mostakbal Misr is a new operator still building operational capacity: “Egypt is a challenging market. These are not problems — these are working processes. New business always comes with difficulties, and they are handling them with dignity.” Prometey is working to avoid extra demurrage costs related to vessel downtime and maintains that Egypt remains a strategic destination. “Such challenges are not new. You can’t simply enter Egypt without understanding the risks. We’ve worked there for a long time and know the ...