War-risk insurance for ships sailing in the Black Sea has risen sharply after two sanctioned oil tankers were hit by naval drones. The vessels, linked to Russia’s so-called “shadow fleet,” were heading toward the port of Novorossiysk when the strikes happened.

Following the incident, insurers raised their rates for ships entering the region. Coverage for a week-long trip to Ukrainian ports increased to about 0.5% of a ship’s value. For ships calling at Russian ports, the cost climbed even higher, reaching between 0.65% and 0.8%. Insurers say the new prices reflect growing concerns that similar attacks could happen again.

The strikes mark a major shift in the Black Sea, as commercial ships — not just military assets — are now being targeted. Since the area is an important route for oil, fuel, and grain, higher insurance costs could affect shipping companies, cargo prices, and trade routes worldwide.

Turkey also reacted to the event, calling the attacks on commercial ships unacceptable and urging all sides to avoid actions that could further disrupt the region.

Overall, the situation adds new pressure on shipowners and charterers, who must now deal with both rising costs and increasing risks as they navigate the Black Sea.