Ferrexpo has announced that it is suspending seaborne shipments of iron ore pellets following Russian attacks on Ukrainian ports in the Odesa region.
The company said this in a statement to the London Stock Exchange, according to Ukrinform.
According to the company, a vessel recently carrying a cargo of iron ore pellets was hit and damaged by Russian drones while sailing in Ukrainian waters in the Black Sea.
Based on the information available, the vessel remains afloat, but the condition of the cargo and the vessel's structural integrity are still unknown. One crew member was killed.
The incident involving the vessel, along with subsequent cancellations of voyages by shipowners, has led the company to expect that this export route will be unavailable for the foreseeable future. This will have a significant negative impact on its liquidity.
