The State Border Guard Service of Ukraine has released video of seafarers being evacuated from vessels stranded in the Port of Yuzhnyi.

IMO has responded to calls for council meeting over ships and seafarers trapped in the Ukraine and wider Black Sea region.

Energy companies are moving to exit their Russian investments in response to the Ukraine conflict.

Two Ukrainian commercial ships are reported to have been seized by the Russian Navy.

Tanker rates on certain routes responded almost immediately to Russia’s three-pronged attack on Ukraine last Thursday. Freight rates for tankers set to load in both Baltic and Black Sea ports rocketed, with Baltic rates spiralling 240% within hours.

Global sea trade suffered another major knock this morning as Russia’s invasion of Ukraine drove oil prices up by about 8%, something that will filter through to already sky high bunker prices.

Brent crude oil traded above $95 for a spell on Monday before easing back to the mid $94s as uncertainty reigns over Russia’s intentions in Ukraine.

Poland’s Port of Gdansk has signed a letter of intent with the Ukrainian Sea Ports Authority to open up a new alternative transport corridor between the Black Sea and the Baltic.

Tsakos Energy Navigation (TEN) was back in the black in the first half of 2014 with a $14.8m net profit.

The Ukrainian government is planning to close all ports in Crimea to international shipping.