Black Sea Shipping Rates Jump 20% ...Middle East

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Black Sea Shipping Rates Jump 20%
source : OILPRICE ( Middle East ) () 14
Shipping rates in the Black Sea have risen by 20% since the start of the year as war risk insurance premiums increase, Reuters reported, citing unnamed industry sources. What’s more, some insurers have stopped providing coverage for ships and planes moving goods to and from Belarus, Russia, and Ukraine. Reinsurers have also pulled out of the region on heightened risks, the report noted. The Black Sea, which is shared by Romania, Bulgaria, Ukraine, Russia, Georgia, and Turkey, is a major oil and oil product shipping artery. “The effect…

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