The Cost of Insuring Black Sea Shipping Is Out of Control

Сonstanta, Romania - May 27, 2014: Cargo ships docked for loading in industrial port quay of Constanta, the largest on the Black Sea and the 18th largest in Europe.

The cost of insuring merchant ships sailing to Black Sea ports has risen dramatically, creating a significant potential impediment to the movement of Russian cargoes from the region. According to four market participants, underwriters are charging as much as 10% of the value of a ship’s hull — essentially the vessel’s worth as an asset… Continue reading The Cost of Insuring Black Sea Shipping Is Out of Control