War risk premiums in the Black Sea rise to 2%, pushing tanker costs above $300,000 amid escalating attacks on shipping and terminals.
The war risk premium in the Black Sea has risen to 2%, with daily tanker costs exceeding $300,000.
The increase in attacks on ships, ports, and export terminals is sharply repricing the Black Sea freight market. According to industry data from Reuters, the war risk premium has risen from about 1% of the ship's value to as high as 2% in approximately two weeks, while the daily cost of oil tankers has surged above $300,000 within a week.
The rising security risk in the Black Sea is reflected not only in voyage cancellations but also in the insurance of vessels and the availability of suitable tonnage. An analysis dated August 5, based on sources from BIMCO, Ambrey, and the industry, reported that the war risk premium has increased from about 1% of the ship's value to 2% in roughly two weeks. This rate can mean hundreds of thousands of dollars in additional costs for a one-time or short-term insurance for a vessel valued at $50 million.
It was reported that the cost of chartering oil tankers has also risen from just over $200,000 per day to above $300,000 within a week. The underlying reason for this increase is that some shipowners are reluctant to allocate vessels to calls in Novorossiysk and other high-risk areas due to the risk of attacks. It has been reported that the Russian logistics company FESCO has suspended new Black Sea shipment bookings.
The attack balances of the parties are conveyed through different frameworks.
The Ukrainian Ministry of Infrastructure reported to Reuters that it recorded 35 attacks on ships in port, 22 on ships at sea, and 67 on port facilities in July. The same source indicated that there were 14 attacks recorded against ships throughout 2025. These figures are the balance of Ukrainian authorities and should not be presented as verified numbers through an independent, joint maritime accident database.
Russia and Ukraine are making different statements, arguing that the other side is using port and energy infrastructure for military purposes. The measurable outcome from a commercial shipping perspective is the same, regardless of the perpetrator debate: less willing tonnage, more expensive insurance, disruptions in loading schedules, and higher commodity transportation costs.
Maritime impact: The premium and daily charter increase; war clauses in tanker, dry bulk, and general cargo contracts are prompting a more detailed discussion of deviation rights and additional premium sharing. For Turkish shipowners, the risk is that port calls before or after the Bosphorus transit can change the entire economics of the voyage.
Source: SeaNews Türkiye
