On August 25, Mustafa Jan, Chairman of the Board of Transbosphor Maritime Transportation Company, warned that Turkey could lose up to $20 billion within three months if attacks on ships in the Black Sea continue.
“The three-month costs of the conflict between Ukraine and Russia for Turkey could reach $20 billion,” Can said in a recent statement.
Jan also noted a sharp decline in vessels passing through the Turkish Straits. Previously, approximately 200 ships traversed Turkish waters daily; this number has now dropped to 25.
“Ships are choosing longer routes. Fuel, personnel, and insurance costs have risen,” Jan added. “Therefore, it cannot be said that shipowners make a profit.”
