According to a report by the UK's Financial Times, as Russia and Ukraine intensify attacks on commercial shipping and violence spreads into waters of NATO member states, the Black Sea has become the deadliest waters for merchant ship crews this year, surpassing the Gulf region.

Citing data from maritime security company Ambrey and the International Maritime Organization (IMO), the newspaper reported that more than 570 ships have been attacked in the Black Sea this year, with at least 40 crew members killed. By comparison, confirmed deaths around the Strait of Hormuz stand at 24. The Financial Times noted that attack reports from both regions are incomplete, making the true scale difficult to determine.

Ambrey data shows that about 387 ships were attacked between July and September, more than five times the total in the previous quarter, averaging more than four attacks per day. Over the past 45 days, Russian attacks on shipping accounted for about 90%.

Ukraine's operations against Russia-linked vessels were the main driver of the escalation this summer. According to Ukrainian media, Kyiv launched an operation in July against Russia's "shadow fleet" tankers in the Black Sea and the Sea of Azov. The Financial Times reported that Ukraine claimed to have hit more than 300 Russian vessels in 11 weeks, although Kyiv's attacks have since slowed.

Since the outbreak of the Russia-Ukraine conflict in 2022, the Black Sea has been a high-risk trade zone. A grain export agreement brokered by the United Nations and Turkey briefly eased tensions, but the deal collapsed in 2023, and Russian attacks on Ukrainian ports have continued since then.

Conflict Spills into Romanian Waters

The latest incidents occurred near NATO territory. Romanian naval authorities said that on October 15, the San Marino-flagged chemical tanker "Wine Trader" caught fire near Sulina, with 7 crew members missing; the Comoros-flagged chemical tanker "Yara J" also caught fire nearby the previous evening, and its Syrian, Indian and Iranian crew members were reported safe.

Romania's defense minister said authorities are investigating whether the "Yara J" was attacked by a drone, noting that radar showed no drones approaching the vessel that night, but two drones subsequently entered Romanian airspace.

Separately, Romanian officials said that on Friday (October 23), the Comoros-flagged cargo ship "Khoryv" sank about 13 nautical miles from Romania's Constanța port after sending a distress signal. Of the 13 crew members on board, 10 were Ukrainian and 3 were Azerbaijani. Another vessel rescued 10 people, one of whom has died, while 3 remain missing. Romania's naval administration said bad weather prevented helicopter rescue operations.

Insurers and Ports Both "Retreat"

The Financial Times reported that Black Sea shipping risks have spread to both ports and insurance. Ports in the Greater Odesa region handled fewer than 10 vessels last month, compared with about 400 in July; meanwhile, insurers have expanded the highest war-risk designation to cover almost the entire Black Sea, excluding only the territorial waters of Romania, Bulgaria and Turkey.

According to the newspaper, war-risk premiums may reach 15% of hull value, roughly twice the rate in the Gulf. Bulgaria has not been spared either. Ukrainian media reported that two cargo ships were attacked near Bulgaria's Black Sea coast on October 13, and Bulgarian Prime Minister Radev called the attacks "absolutely unacceptable."