Greece Warns Shippers After Black Sea Drone Attacks

Greece Issues Security Advisory After Tanker Attacks

Greece's shipping ministry has issued a formal warning to its national fleet, urging a review of security measures for vessels operating in the Black Sea. The advisory follows drone attacks on two Greek-operated oil tankers near a Russian terminal this week.

Heightened Risk in a Key Trade Region

The incidents involved two tankers, one of which was chartered by U.S. oil major Chevron. The Greek-operated tanker Matilda, managed by Thenamaris, was struck but sustained no serious damage or injuries. Given that Greece controls one of the world's largest tanker fleets, the attacks highlight escalating risks in a crucial maritime trade zone shared by Russia, Ukraine, and several NATO countries.

Impact on Maritime Insurance Costs

A direct economic consequence of the heightened threat level is a significant jump in war insurance costs for ships transiting the Black Sea. This reflects the worsening risk environment for commercial shipping in the region, impacting the operational costs for companies like Thenamaris, which has already implemented additional precautionary measures.

Summary

The Greek government is advising shipping companies to update their threat assessments based on previous guidance from April 2022. The industry is now on high alert, with increased vigilance and security protocols becoming standard procedure for vessels navigating these contested waters.

FAQ

Q: Why did Greece issue a shipping warning?
A: The warning was prompted by drone attacks on two Greek-operated oil tankers in the Black Sea.

Q: What is the main economic impact of these attacks?
A: War insurance costs for commercial vessels sailing in the Black Sea have risen sharply, reflecting increased risk.

Source: Reuters