Black Sea shipping under growing threats as drones hit container ships

A Greek container ship is the latest vessel to sink after being hit by three drones in the Black Sea off the coast of Bulgaria on Wednesday. The ship's crew members were rescued and brought to shore. It's not immediately clear who was behind the attack, but some analysts suggest the drones were a Russian variant. It's a growing concern for commercial shipping as the war between Ukraine and Russia continues. A couple of days before that, this ship capsized in the Black Sea, attributed to a Russian attack. Last July, it was an oil tanker that was hit by a Ukrainian drone, very close to the Crimean coast in the waters of the Black Sea. It's a body of water that's particularly strategic. It borders Georgia, Turkey, Bulgaria, Romania, Ukraine and Russia. Before the Russian invasion of Ukraine in 2022, nearly 20% of the world's grain exports passed through these waters. Ukraine alone exported about 5 to 6 million metric tons each month. From the very start of its invasion, Russia targeted Ukrainian ships in the Black Sea to deprive Kyiv of its financial resources. Last September, 1.6 million metric tons of grain left Ukrainian ports, according to the government in Kyiv. The Greek prime minister said it was having an impact globally. The cost of shipping has increased. Both the chartering and insurance has essentially gone through the roof and this of course just adds layers of cost. ...to transporting goods across the world, but also when it comes to the security of global food supplies. There are many countries that are dependent on Ukrainian grain, and of course Ukraine itself is very much dependent financially. Exports now pass through the Danube, a logistics route that has become essential. Several countries have said an international truce is the only way to protect shipping in the Black Sea.