Maritime risk in the Black Sea escalated sharply over the weekend after Russia launched one of its largest attacks on Ukrainian port infrastructure, damaging commercial vessels and disrupting operations around Odesa and Chornomorsk. Two Turkish-controlled ships were struck in separate incidents, including a ferry alongside port infrastructure and a product tanker transiting Ukrainian waters, underscoring the growing exposure of civilian shipping to direct conflict spillover.

The strikes were widely viewed as retaliation for recent Ukrainian attacks on Russian linked shipping and energy assets in the Black Sea. Russia has previously warned that continued attacks could trigger broader retaliation against vessels calling at Ukrainian ports, a stance that has already translated into higher war risk insurance premiums and increased owner caution. Damage to grain facilities and power infrastructure in Odesa further highlights the fragility of maritime trade corridors in the region.

Further Black Sea trade disruptions expected
As tit-for-tat strikes intensify, the risk environment for Black Sea shipping remains elevated, with heightened uncertainty around navigational safety, insurance availability, and vessel deployment. For global shipping markets, the conflict continues to reinforce risk premiums, discourage participation by compliant tonnage, and support longer haul trade patterns as owners avoid exposure to the region.