"In the last month attacks in the Black Sea has tripled as Ukrainian naval forces have been targeting Vladimir Putin's sanctioned shadow fleet oil tankers. The Financial Times reported, "The cost of war risk insurance for ships sailing through the Black Sea - a critical trade zone for commodities such as grain and oil - jumped after attacks by Ukrainian special forces on infrastructure including Russia's Novorossiysk port.""
"A maritime expert said the attacks has sent shockwaves through the shipping community and has frightened owners of tankers who are doing a "legitimate trade" may also be targeted. Baker said the attack may have been carried out by Ukraine to disrupt Russia n tanker activities, although this has not been confirmed. Last Tuesday a Russian oil tanker was hit again in the Back Sea, which is the fourth incident in a week as Ukrainian forces are stepping up their attack on Putin's shadow fleet."
Attacks in the Black Sea have tripled in the last month as Ukrainian naval forces target Russia's sanctioned shadow-fleet oil tankers. War-risk insurance costs for ships sailing through the Black Sea have jumped, affecting a critical trade zone for commodities such as grain and oil. Some clients experienced insurance price increases exceeding 200%, with the steepest rises in Russian areas of the Black Sea. The largest hikes hit tankers linked to Russia, including bulk carriers carrying grain. The shipping community has been alarmed and some operators have suspended Russian-linked voyages after related attacks.
Read at London Business News | Londonlovesbusiness.com
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