Bangladesh Shipping Corporation (BSC) is seeking $22.4 million from its insurer for a cargo ship hit by a missile in March, government officials with knowledge of the talks said, in the first major marine insurance claim from the conflict in Ukraine, reported Reuters.

State-owned Bangladesh Shipping Corp is seeking $22.4 million from its insurer for a cargo ship hit by a missile in March, government officials with knowledge of the talks said, in the first major marine insurance claim from the conflict in Ukraine.

International trade largely depends upon the shipping industry. Around ninety percent of traded goods are transported around the world through sea.