Ships worth $440mn stranded in Ukraine as invasion anniversary looms: Skytek
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Ships worth $440mn stranded in Ukraine as invasion anniversary looms: Skytek

Abbie Day
23 February 2023
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Ukrainian flag flies from the stern of a ship in the Black Sea port of Odessa, Ukraine.jpg

Some 58 ships with an aggregate market value of $440mn remained trapped in Ukrainian seaports on 21 February, shortly before the one-year anniversary of Russia’s invasion, according to a report issued by Skytek.

The software company’s report stated that under the Institute War & Strikes Clauses (IWSC), owners are entitled to claim a constructive total loss for the 58 vessels, assuming that they are insured under the IWSC.

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News Claims and losses Re/insurers Marine
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