The cost of maritime insurance in the Black Sea has risen after strikes by Ukrainian drones on Russian tankers that belong to a fleet circumventing sanctions.
Insurance rate increases
War-risk insurance for a typical seven-day voyage has risen: for sailings to Ukrainian ports — from 0.4% to 0.5% of a vessel's value; for Russian ports — from 0.6% to 0.65–0.8%.
"For Russian ports, insurers are taking into account a broader range of potential targets and a higher likelihood of repeat strikes. As Ukrainian activity increases, the risk of mirror actions by Russia rises, which levels the risks for both directions"
– Munro Anderson, head of operations, Vessel Protect
- On November 28, Ukrainian drones attacked the tankers Kairos and Virat, which were en route to the port of Novorossiysk; both vessels were under Western sanctions and were sailing empty.
- On November 17, Russian forces struck a vessel carrying liquefied automotive gas in the port of Izmail with a missile.
