War-Risk Premiums (EWRI): Updated Market View

EWRI for Ukrainian deep-sea ports moved slightly higher in the last 5-6 weeks being now at 0.45–0.55% of vessel value per voyage. It is still far below the 1.0–1.2% peaks of 2023, but still is considered as mirroring the increasing war risks. The tariffs lower level can be supported by Ukrainian Gov’t and international insurance and reinsurance companies and programs, even if new incidents happen in the Black Sea. War-risk premiums for russian Black Sea ports rose considerably. Now calls to russian ports priced at 0.65-0.80%, in many cases slightly above Ukrainian levels. Black Sea tension is a recognized factor now, but EWRI for Romania, Bulgaria, Turkey are much lower. For Constanța, Burgas and Turkish ports, war related risks increased additionally by 0.10-0.25%. russian ports insurance tariffs increased the most. EWRIs of Constanța, Burgas, Turkey are discounted. This improves price competitiveness, especially for long-distance routes. Forecast: Black Sea & Danube Insurance ...