Ship insurance prices for vessels heading to Black Sea ports have surged sharply following a series of Ukrainian attacks on ships linked to Moscow, according to insurance broker data. The world's largest marine insurance broker, 'Marsh', reported that the cost of insurance for voyages to Russian ports in the Black Sea has more than tripled. Monroe Anderson, head of operations at 'Vessel Project', a specialist insurance firm, stated that the insurance rate before the recent incidents ranged between 0.25% and 0.3% of the vessel's value, whereas insurance for some Ukrainian ports now amounts to 1% of the vessel's value, according to two market sources who wished to remain anonymous.
