Black Sea Ship Attacks Spark Grain Price Fears

Tensions in the Black Sea are escalating after attacks on ships under Turkish operators off the coast of Tuapse, leading to concerns about grain prices. According to reports, these incidents may cause a 10-12% increase in global grain prices if not resolved within two months.

The recent attacks on vessels Lider Bordo Mavi and Lider Kocatepe have heightened tensions between Turkey and Ukraine. The Ukrainian ambassador to Ankara was summoned to the Turkish Foreign Ministry following the incident, which has raised concerns about the safety of commercial vessels in the Black Sea.

Captain Mustafa Can, general manager of Transbosphor Denizcilik, warned that if attacks on ships continue, up to 150 vessels could be sent for scrap and around 20 leading shipowners may disappear from the market within five months.