Black Sea shipping insurance rates rise after Ukraine attacks tankers, sources say

LONDON: The cost of shipping commodities through the Black Sea climbed on Monday after Ukrainian naval drones hit two tankers heading to a Russian port, with fears of further attacks driving up war risk insurance costs, industry sources said. The Black Sea is crucial for the shipment of grain, oil and oil products. Its waters are shared by Bulgaria, Georgia, Romania and Turkiye, as well as Russia and Ukraine.

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