Insurance for ships going to and from Ukrainian ports has become more expensive

A ship damaged by the Russian attack on Odesa on October 6, photo: Ministry of Development of Communities and Territories of Ukraine

The price of insurance for vessels traveling through the Ukrainian export sea corridor in the Black Sea has increased to 1% of the vessel's value in a week.

This is 0.75% more than last week, writes the Center for Transport Strategies with reference to Bloomberg.

According to market participants, insuring a ship worth $50 million costs $125,000 per voyage.

Strikes by the Russian Federation on ships in Odesa

In recent days, Russia has struck the civilian port infrastructure of Odesa. On the night of October 6, Russian troops attacked Odesa with ballistic missiles. As a result of the attack, a civilian cargo ship was damaged.

The next day, the Russians again attacked Odesa with ballistic missiles. The enemy hit a Palau-flagged civilian vessel. A 60-year-old Ukrainian was killed, and five other foreign citizens were injured.

And in the evening of October 9, the Russian army attacked Odesa district with ballistic missiles. The port infrastructure became the target of the enemy again. The enemy hit a civilian container ship under the flag of Panama.

On October 10, a Panamanian-flagged container ship was damaged during the attack. After that, the European Union condemned the Russian attacks on civilian vessels transporting Ukrainian grain and called for pressure on the Russian Federation to stop these attacks.