Ferrexpo suspends Black Sea exports after Russian attacks
Photo: The Port of Greater Odesa (Getty Images)
Ferrexpo suspends Black Sea exports
Ferrexpo has paused seaborne shipments of iron ore pellets following Russian attacks on the ports of Greater Odesa.
According to the company, a vessel carrying a cargo of iron ore pellets was recently hit and damaged in a drone attack in Ukrainian waters of the Black Sea.
The ship remains afloat, but the condition of both the cargo and the vessel is currently unknown. One crew member was killed, the company said.
Ferrexpo expects that the attack on the vessel, along with subsequent voyage cancellations by shipowners, has made the Black Sea export route unavailable.
What the company has lost
Ferrexpo currently has:
- around 189,000 tons of iron ore pellets ready for shipment, including 55,000 metric tons loaded onto the damaged vessel;
- approximately 90,000 tons stored at stockpiles.
The company had expected to increase exports in the second half of 2026.
Ferrexpo has already filed insurance claims to recover losses under its insurance policies.
Meanwhile, the Southern Mining and Processing Plant temporarily suspends mining operations and partially scales back production because Russian attacks have severely disrupted Black Sea logistics.
