Insurance rates in the ports of Greater Odessa decreased to 0.35-0.4%

The availability of underwriters with the capacity to insure military cargo in Ukrainian territorial waters remains limited, but sufficient to meet current demand. Since maritime exports through the ports of Greater Odessa resumed in 2022, insurance has played a crucial role in supporting trade. Notably, military cargo risk insurance rates have dropped significantly from an initial 4-5% to 0.35–0.4% of cargo value today.Cargo insurance is now divided into two main categories: standard All Risks (ICC A, GAFTA/FOSFA) and military-specific EWRI coverage. Standard insurance rates have remained relatively unaffected by the war, except during early 2022 when traffic shifted to the Danube ports. Back then, older, poorly maintained vessels lacking key certifications led to higher premiums. With the modernization of fleets calling at Greater Odessa, this