Black Sea Attacks Raise Shipping Costs and Risks for Crews

The Black Sea’s worsening security conditions are affecting more than ships near Ukrainian and Russian ports. Attacks reported off Romania and Bulgaria, steep war risk insurance premiums and hazards to navigation are widening the operational challenge for carriers using the region.

A Financial Times study published October 25, 2026, counted more than 570 ships affected by attacks during the year and at least 40 seafarer deaths. The study recorded 387 ships attacked or affected from July through September, more than five times the previous quarter’s figure. It also attributed approximately 90% of attacks on maritime transport during the preceding 45 days to Russia.

Risk extends beyond port approaches

The incidents have reached commercial vessels and cargo infrastructure, including areas beyond the ports of Ukraine and Russia. Recent attacks off Romania and Bulgaria suggest that operators cannot limit their risk assessment to routes close to those two countries’ port facilities.

One recent case was the Comoros-flagged cargo ship Khoryv, which sank after an attack off Romania’s Constanta Port on October 23. Nine seafarers were rescued, one body was recovered, and three crew members were reported missing. The incident illustrates how quickly a voyage can turn into a rescue operation, with consequences for crews as well as cargo schedules.

The reported methods create several distinct hazards. Unmanned aerial vehicles have been used in attacks, while sea mines and interference with GPS signals pose additional navigation risks. The study also said attacks have targeted crew spaces, including bridges and living quarters. That detail matters operationally: crews may face danger in the parts of a vessel they rely on to navigate and rest, while interference with positioning signals can complicate safe passage.

At least 40 seafarers died in the Black Sea in 2026, according to the study. That exceeded the 24 confirmed seafarer deaths reported in the Strait of Hormuz over the same period. The figures underline the human cost of operating in the region, particularly for crews from developing countries who may have fewer economic options when considering high-risk assignments.

Insurance and capacity decisions

For ship operators, the security picture is translating into higher voyage costs. The study said war risk insurance premiums could reach as much as 15% of a ship’s value on some voyages. That figure applies to some trips, rather than every Black Sea voyage, but it shows how materially the risk can affect a vessel’s economics.

Rising premiums and the threat of further attacks are influencing whether owners send ships into the region. Some companies have limited their operations, while older and technically riskier vessels have been used for transport, creating additional safety concerns. For carriers and cargo owners, reduced participation can make it harder to arrange suitable capacity and keep shipments on their intended schedules.

The practical calculation now involves more than the quoted freight rate. Operators must weigh insurance costs, vessel condition, navigation hazards and the risk to crew against the cargo and route requirements. If fewer companies are willing to operate, cargo owners may have fewer vessel options; the source study reports restricted operations but does not quantify any resulting capacity shortfall.

Grain flows face added pressure

Russia’s and Ukraine’s grain exports are among the flows affected by the deteriorating conditions. Attacks on ports and commercial vessels have disrupted transport, while higher insurance and freight costs feed into export operations. Black Sea ports are important to moving Ukraine’s agricultural products to global markets, so pressure on those facilities has implications beyond the immediate voyage.

Importers in Africa and Asia could face greater food supply risks if transport costs rise further or port and vessel disruptions persist, the study warned. The available figures do not quantify the effect on export volumes or the cost passed through to buyers. Still, interruptions at key loading points can make dependable shipping harder for exporters and importers alike.

For logistics teams, the near-term watchpoints are whether attacks continue across a wider stretch of the Black Sea, whether more carriers restrict service, and how insurance and freight costs change. The reported hazards also make crew protection, vessel condition and reliable navigation central to voyage planning. With risk extending beyond the immediate port areas, the region’s security picture is becoming a factor across the full shipping chain, from vessel deployment to grain delivery.