The Black Sea has been identified as the world’s deadliest maritime route, with more than 570 vessels reportedly coming under attack since the beginning of the year.

At least 40 merchant seafarers have been killed in the attacks, exceeding the confirmed death toll of 24 in the Strait of Hormuz, according to the Financial Times (FT).

The attacks have affected vessels operating near the coasts of Romania and Bulgaria, highlighting the growing security risks facing commercial shipping in the Black Sea.

Rising threats have also driven up insurance costs. War-risk insurance premiums can reach 15% of a vessel’s value, prompting some shipowners to send older ships into high-risk areas.