War insurance costs for ships sailing to the Black Sea have spiked again, with insurers reviewing policies daily as the conflict in Ukraine spills into sea lanes, five shipping and insurance sources said on Thursday.

The Black Sea is crucial for the shipment of grain, oil and oil products. Its waters are shared by Bulgaria, Georgia, Romania and Turkey, as well as Russia and Ukraine. Turkey's Foreign Minister Hakan Fidan said on Wednesday that attacks on Russia-linked tankers in the Black Sea in recent days threatened the safety of all in the region and showed that the reach of the war in Ukraine was expanding.

Ships sailing into Russian or Ukrainian Black Sea ports or terminals around the Sea of Azov require additional war-risk insurance, typically set for a seven-day period. PUTIN THREA

See Full Page