Attacks on cargo ships in the Black Sea are already increasing insurance premiums and making shipping more expensive, warns economist from the Institute for Market Economics Lachezar Bogdanov. According to him, the continuation of the attacks could threaten shipping to such an extent that it practically stops.
The topic is gaining importance for Bulgaria because of the dependence of business on seaports. In 2025, over 28 million tons of cargo were imported and exported through them, and in the first half of 2026, the volumes processed increased by 17% compared to the same period last year. The National Statistical Institute's data for 2025 report 27.49 million tons of cargo handled in seaports.
Maritime transport is key to the industry
In imports, about 46% of cargo is liquid bulk cargo, mainly fuels and chemicals, while dry bulk cargo accounts for about 28%. In exports, the share of dry bulk cargo exceeds 60%, while liquid cargo is about 20%. Containerized cargo accounts for approximately 10% of both imports and exports.
Metallurgical enterprises such as „Aurubis Bulgaria“ and „Stomana Industry“, chemical companies such as „Solvay Sodi“ and “Agropolychim“, oil refining at “Lukoil Neftochim Burgas“, as well as agriculture and grain trade. Seaports ensure the supply of raw materials and the export of finished products.
“Increasing prices or interruption of transportation can lead to disruptions in production, loss of competitiveness and a decrease in exports“, Bogdanov points out. On October 13, the ship “Chelsea-3“ was hit by drones 17 nautical miles east of Byala, and on October 16, an operation began to tow it to Burgas.
The pressure is also transferred to the Danube
In addition to the risk in the Black Sea, difficulties on the Danube River are added. In 2025, about 3.9 million tons of cargo passed through Bulgarian river ports, but in the first six months of 2026, a decline of nearly 14% was reported on an annual basis.
An additional problem is the planned interruption of the railway connection via the Danube Bridge near Ruse. Romania plans an interruption from April to December 2027 due to electrification of the line, while the similar modernization on the Bulgarian side should begin in April 2028 and be completed in 2030.
According to Bogdanov, this discrepancy could affect companies in Northern Bulgaria, including “Orgachim“, “Prista Oil“ and biofuel producers from the “Astra Bioplant“ group. “At the moment, we do not see a strategic response from the authorities to overcome them“, the economist states.
Sources: focus-news.net