Over the past weekend, the Black Sea became the most dangerous waters for global shipping operators.

In the early hours of June 22, MV VICTRESS, a Turkish bulk carrier, was struck by a Russian drone while en route to a Ukrainian port. The vessel caught fire and burned continuously. A 58-year-old Egyptian chef on board was killed in the attack, while the remaining eight crew members were rescued by the Ukrainian Navy. Flying a Panamanian flag, the ship was sailing from the Odesa region to Turkey at the time of the incident.

This marks the fourth attack on merchant vessels in the Black Sea in the past week. According to Ukraine, two civilian ships were hit by Russian drones in the Black Sea on June 19, leaving one person dead and five injured. Earlier in late May, Turkey had already warned of a drone attack on a cargo ship traveling from Ukraine to Turkey, which caused two crew injuries.

Greek headline: Ship catches fire in Black Sea following Russian drone attack – one fatality

Major Port Blazes Break Out Across the Kerch Strait

One day before the attack on MV VICTRESS, Ukraine launched a large-scale drone strike targeting key port facilities on both sides of the Kerch Strait.

Targeted facilities include:

Kerch Port (Crimean side): Fires broke out at the TES fuel terminal and AEGAS LPG terminal. The oil depot is located less than one kilometer from the Kerch Strait Bridge.

Kavkaz Port (Russian side): One of Russia’s largest ferry hubs connecting mainland Russia and Crimea. The attack triggered massive fires, with clear fire hotspots visible in satellite imagery of the port area.

Ferry services across the Kerch Strait have been fully suspended since June 21, and traffic on the Kerch Strait Bridge was temporarily halted. Analysis by the Institute for the Study of War (ISW) indicates that Ukraine is conducting systematic strikes on Russia’s logistical supply lines.

Implications for Freight Forwarders

The cumulative impact of these incidents has triggered tangible disruptions to all Black Sea shipping routes.

1. Skyrocketing war risk premiums raise voyage costs by tens of thousands of US dollars

According to industry data from World Ports, current war risk premiums for Black Sea port calls have exceeded 1% of vessel value, up sharply from 0.6%–0.8% recorded in December 2025, hitting the highest level since 2023. Most critically, insurance terms are now reassessed every 24 hours, meaning carriers may adjust or suspend routes and port calls at any time in response to sudden geopolitical changes.

2. Retreat of the reinsurance market tightens underwriting capacity

Since the annual renewal on January 1, 2026, multiple reinsurance companies have excluded vessels and aircraft operating in Russia and Ukraine from their coverage scopes. This has significantly reduced available capacity for war risk insurance and further pushed up premiums. Industry estimates show that hull war risk policy prices have risen by 20%–25% since late 2025.

Daily charter rates for Aframax tankers departing from Russian Black Sea ports have surged to USD 180,000–200,000, excluding additional war risk premiums and bunker costs. Container shipping services are facing identical cost pressure.

3. Kerch Strait closure paralyzes Azov Sea cargo flows

As the only waterway connecting the Black Sea and the Azov Sea, the Kerch Strait serves as a critical logistical corridor for Russia’s Crimea resupply. The suspension of ferry services has forced all transit cargo to seek alternative, longer routes or face shipment delays. Cargo import and export operations at Azov Sea ports including Mariupol and Berdiansk have been directly disrupted.

4. Sharp slowdown in Black Sea container shipping

Reports dated June 15 confirmed that escalating geopolitical tensions have substantially slowed container shipping to Ukrainian Black Sea ports. Odesa Port sustained further missile strikes over the weekend, with civilian infrastructure damaged, one civilian killed and three injured. The port remains operational for now, but security protocols have been fully upgraded.

Practical Operational Recommendations

For all shipments involving Black Sea routes — including ports in Ukraine, Russian Black Sea coast, Georgia and partial Turkish ports — forwarders are advised to adopt the following precautions:

Verify real-time route and port call status with carriers or agents. Multiple carriers have implemented temporary route adjustments or suspended Black Sea port calls. Do not assume regular service availability.

Reserve margins for surging war risk premiums in quotations. War risk rates fluctuate drastically on a daily basis. Significantly shorten quotation validity periods and specify all surcharges on a pass-through basis. Avoid fixed-rate pricing based on outdated rates from weeks earlier.

Inform clients of guaranteed transit time uncertainty. Ferry suspensions, port attacks and frequent schedule adjustments will inevitably cause delays. Urgent shipments are recommended to be rerouted via alternative lanes.

Monitor evolving insurance exclusions. Due to reinsurance withdrawals, many standard policies no longer cover war risks in the Black Sea region. Remind clients to verify existing insurance coverage and purchase additional war risk insurance if necessary.

The attack on MV VICTRESS and large-scale blazes at Kerch and Kavkaz Ports are not isolated incidents, but clear evidence of systematic deterioration of Black Sea shipping security. With soaring war risk premiums, retreating reinsurance capacity and continuous carrier route reassessments, Black Sea shipping has entered a phase of high risk, high cost and low predictability.

Forwarders are advised to refrain from actively developing new Black Sea business in the short term and conduct case-by-case risk assessments for all existing bookings. This is no overreaction — at least four merchant vessels have been attacked in a single week, a statistic that speaks for itself.

Disclaimer: All content is sourced from public channels and is for industry reference only.