Select your region or country so that the content matches your location

Select a region
Lithuania Poland Switzerland UAE Russia Belarus Uzbekistan Kazakhstan
For Client
+7 495 620 99 09
Rate request
+7 495 620 99 09
Rate request

"Military bonuses" were demanded from ships in the Black Sea

26 october

# Market News

Insurance companies that work with ships entering the Black Sea ports of the Russian Federation have notified charterers of an increase in "premiums for military risks".

The premium for military risks was added to the total costs of tanker insurance after the start of its in Ukraine in 2022. After Russia withdrew from the grain deal in July 2023, such risks increased.

According to traders, the premium for military risk jumped from about 1% of the value of the cargo to about 1.20-1.25%. In fact, each flight will cost $200 thousand for one Suezmax class tanker (takes on board 120 000 – 200 000 tons) more, when delivering Russian oil to India. Consequently, the total cost of the award will be almost $1 million.

Although the amount is small, it increases Russia's total oil export costs. At the height of the anti-Russian sanctions, according to the agency, the expenses of Russian companies for insurance and transportation of one tanker amounted to $20 million, i.e. more than a third of the cost of cargo.

Changing cookie settings

Cookies are text files saved by the browser on a computer (mobile device) of a website user, when the latter visits the website, in order to record the actions performed by the user. Cookies are used to maintain or improve the performance of websites and to provide analytical information.

Files that store information to ensure the functioning of web resources, information about the user’s choice to accept/reject cookies, and do not use any information about the user that can be used for marketing purposes or to keep track of visited websites. Disabling this type of cookie may limit the user’s access to the functionality of the web resource

Files that store information about the choices made by the user (user name, language, region, etc.). Disabling functional cookies has no effect on the performance of the web resource.

Files designed to evaluate the performance of web resources and storing information about user preferences and the most viewed pages of a web resource. Disabling analytical cookies has no effect on the performance of the web resource.

For the list of processed cookies, see Cookie Processing Policy of STALOGISTIC»