Insurance coverage prices of delivery by Black Sea soar

By Jonathan Saul



Arkas Line's Conti Basel container ship is docked in Black sea port of Odessa


© Reuters/Valentyn Ogirenko
Arkas Line’s Conti Basel container ship is docked in Black sea port of Odessa

LONDON (Reuters) – Insurers have raised the price of offering cowl for service provider ships by the Black Sea, including to hovering charges to move items by the area for vessels nonetheless prepared to sail after Russia’s invasion of Ukraine.

Ship house owners pay annual war-risk insurance coverage cowl in addition to a further “breach” premium when coming into high-risk areas. These separate premiums are calculated based on the worth of the ship, or hull, for a seven-day interval.

Ship

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