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A rapid escalation of attacks on merchant ships, ports and export terminals is disrupting both sides of the Black Sea commodity trade just as Ukraine and Russia move through critical agricultural export periods. Ukraine recorded 35 attacks on vessels in port, 22 attacks on ships at sea and 67 strikes on port facilities during July alone, compared with 14 vessel attacks during all of 2025, according to Ukrainian government data. Shipowners temporarily stopped sending vessels into the Odesa-area ports, which normally handle more than 90% of Ukraine’s agricultural exports, while attacks and security restrictions have also constrained Russian grain movements through the Sea of Azov and Black Sea terminals. The disruption has now spread directly into energy shipping: the Caspian Pipeline Consortium route carrying Kazakh crude has faced repeated loading interruptions, tanker availability has tightened, Black Sea war-risk premiums have reached as much as 2% of vessel value, and estimated daily tanker costs in the region have risen above $300,000.
Operator Impact Snapshot
Premiums have doubled at the upper end
Black Sea port-call cover has risen to as much as 2% of vessel value, versus roughly 1% only two weeks earlier.
Both major exporters face constraints
Ukrainian deepwater exports and Russian Sea of Azov movements are simultaneously facing security and capacity pressure.
Owners are increasingly reluctant
Tighter tonnage supply has increased tanker freight costs and complicated cargo scheduling around Russian Black Sea terminals.
CPC reliability has weakened
The Black Sea CPC system carries more than 80% of Kazakhstan's crude exports and has faced repeated loading interruptions.
Land and river capacity remains limited
Ukraine estimates alternative routes can ultimately replace only around half of normal Black Sea port capacity.
The Current Scale
Commodity Flow Pressure Points
The disruption is no longer confined to one port system or one commodity. Grain, crude oil, vessel availability and insurance are being affected simultaneously.
| Flow | Current Signal | Scale | Shipping Effect | Status |
|---|---|---|---|---|
| Ukraine Grain | Shipowners suspended arrivals around Odesa during the latest attack surge. | >90% of Ukrainian agricultural exports normally move through the Odesa hub. | Vessel arrivals, grain loading and terminal throughput have been disrupted during the summer harvest period. | SEVERE |
| Ukraine Export Capacity | Danube, rail and road routes are being expanded as substitutes. | Alternative routes are expected to handle only 50%–55% of roughly 6 million tonnes of monthly Black Sea capacity. | Alternative logistics add approximately $45–$50 per tonne for producers. | CONSTRAINED |
| Ukraine Harvest | Large volumes could remain unable to reach international buyers if port disruption persists. | Officials estimate slightly more than 30 million tonnes of grain and oilseeds could be affected. | Export timing becomes increasingly important as storage and inland logistics absorb more cargo. | AT RISK |
| Russian Grain | Sea of Azov shipping restrictions have pushed cargo toward larger Black Sea terminals. | The Azov route normally handles about 25% of Russian grain exports. | Additional truck and rail movements are concentrating cargo around Novorossiysk and Taman. | DIVERTING |
| Russian Terminals | NZT, KSK and ZTKT restricted some truck-delivered grain amid congestion and security concerns. | The three terminals have combined annual capacity exceeding 20 million tonnes. | Inland delivery restrictions can prevent additional grain from reaching available export berths. | PRESSURED |
| CPC Crude | Loading operations have repeatedly stopped and restarted amid tanker shortages and security concerns. | The CPC system carries roughly 1.8% of global oil supply and more than 80% of Kazakhstan's crude exports. | Limited tanker willingness can constrain exports even when pipeline infrastructure remains capable of operating. | DISRUPTED |
| Black Sea Tankers | Security concerns have reduced the pool of owners willing to accept voyages. | Average tanker costs rose from just over $200,000 to more than $300,000/day in roughly one week. | Higher freight and reduced tonnage availability are increasing delivered commodity costs. | HIGH COST |
| Urals Crude Freight | Novorossiysk-to-India Suezmax freight has risen sharply. | Reported cost increased from roughly $10 million to around $15 million per cargo. | The freight increase alone can reduce Russian export revenue by roughly $5 per barrel or more. | RISING |
| War-Risk Cover | Underwriters are repricing Black Sea exposure as vessel attacks increase. | Some port-call premiums have reached 2% of vessel value. | A $50 million vessel could therefore face a premium approaching $1 million for a covered exposure at that rate. | HIGH |
Black Sea Port-Call Cost & Risk Calculator
Model the added voyage cost created by higher war-risk insurance, waiting time and security charges, then compare the Black Sea call with an alternative routing or logistics option.
Voyage Cost Comparison
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