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.

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Ferrexpo currently has around 189,000 tonnes of pellets designated for shipment, including 55,000 tonnes loaded onto the damaged vessel and approximately 90,000 tonnes held in stockpiles. The company had expected to increase export sales in the second half of 2026.

The company has already notified its insurers to seek compensation for losses under its existing insurance policies.

As reported, Ferrexpo Group's enterprises cut iron ore production by 72% year-on-year in January-March 2026.