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Black Sea Oil Shipping Insurance Costs Surge to $2.5 Million

Insurance costs for ships transporting oil across the Black Sea have surged from approximately $200,000 to $2.5 million per vessel in recent months, increasing crude transportation costs and putting…

  • Insurance premiums for Black Sea oil shipping vessels surged to $2.5 million per ship.
  • Attack frequency and port infrastructure risks drove up insurance costs 12.5-fold.
  • War-risk premiums added hundreds of thousands to shipping costs for seven-day voyages.

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