The Olinda, flying the Turkish flag and carrying Liquefied Petroleum Gas, caught fire after probably being hit by a Russian drone.
The incident occurred near the Ukrainian port of Izmail. All 16 crew members were rescued, while the fire service intervened to put out the flames.
The extent of the damage to the Orinda is still unclear, and approximately 3,500 tonnes of LPG remain on board.
This is the third serious incident in the Black Sea region in the last few days.
A Ukrainian attack struck the Russian port of Novorossiysk last week, damaging infrastructure and disrupting oil exports from the terminal for nearly 48 hours.
Russia responded by attacking the port of Odessa, damaging moorings and a civilian vessel.
The authorities ordered the evacuation of people and animals from two villages near Izmail, on the Romanian side of the border, stating that the nature of the tanker’s cargo necessitated such precautions.
Translation by Giles Foster