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Black Sea shipping rates soar by 20%

Home / News / Black Sea shipping rates soar by 20%
Posted on January 9, 2023

The freight rate for ships which carry bulk commodities exports out of the Black Sea region has surged by over 20% since the beginning of 2023, largely because of the increase in war insurance premium rates.

The Black Sea region is a major shipping hub for commodities such as grain, oil, and refined products.

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