Ferrexpo Halts Black Sea Shipments After Vessel Struck by Russian Drones

05:24 AM EDT, 07/28/2026 (MT Newswires) -- Ferrexpo (FXPO.L) does not expect to load additional vessels for transport through the Ukrainian waters of the Black Sea for the foreseeable future amid tensions in the area. The London-listed iron ore pellets producer said Tuesday that a vessel loaded with 55,000 tonnes of its DR-grade pellets was struck and damaged by Russian drones while sailing in Ukrainian waters of the Black Sea. A crew member lost their life in the attack, the company added. The company noted that it started working with relevant parties on existing insurance coverage for the affected assets. Ferrexpo expects to have sufficient net accessible cash to operate until the end of August, and it is working on launching an equity capital raise of at least $100 million.