Russian Missile Strike on Liberian-Flagged Vessel in Ukrainian Port Kill One, Destabilizes Shipping, Raises Insurance Premiums
21st targeted assault on Ukrainian port infrastructure since Russia withdrew from Black Sea grain export deal in July; attack on iron-ore carrying vessel injures Filipino crewmembers and raises freight cost by $20 per ton, escalating tensions in region.
- A Russian missile strike on a Liberian-flagged vessel in a Ukrainian port has resulted in one death and has further destabilized shipping in the region, leading to raised insurance premiums.
- The attack is the 21st targeted assault on Ukrainian port infrastructure since Russia withdrew from a Black Sea grain export deal in July.
- As a result of the attack, freight costs for ships using Ukraine's alternative export corridor have increased, reducing the number of shipowners willing to load in Ukrainian ports.
- War risk insurance premiums have significantly risen, adding potential costs of tens of thousands of dollars to shipping companies.
- Despite the threats and attacks, Ukraine's 'humanitarian corridor' for cargo vessels is still operational, enabling the export of agricultural and metal products.
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