#Freight

Black Sea attacks disrupt global grain and oil supplies amid escalating conflict

A surge in attacks on ships, ports and export terminals in the Black Sea is disrupting global supplies of grain and oil. Ukraine recorded 35 attacks on vessels in port and 22 at sea in July, along with 67 strikes on port facilities. War insurance costs for Black Sea terminals have risen to as much as 2% of the value of the ship, from around 1% two weeks ago, while average daily oil tanker costs jumped to over $300,000 a day from just over $200,000 a day a week ago.