Ferrexpo, a company specializing in the production of iron ore products, reported a significant deterioration in maritime logistics since December 2025 due to Russia's regular attacks on the Odessa region.
According to Lucio Genovese, interim executive Director of Ferrexpo, until the restoration of the port infrastructure and the return to safer conditions in which sea transportation was previously carried out, the company plans to ship the main export volumes by rail, although this will affect the speed of delivery and increase the company's costs.
According to Genovese, the last quarter of 2025 was one of the most difficult periods for the company since the large-scale invasion of Ukraine, mainly due to increased missile and drone attacks by Russia on the energy infrastructure, including in Poltava region, where the group's enterprises are concentrated.
Due to constant restrictions in the supply of electricity, Ferrexpo reduced the production of iron ore products in October – December 2025 by 29% compared to the previous quarter, to 1.07 million tons, of which 0.66 million tons accounted for iron ore concentrate, and another 0.41 million tons for pellets (Fe 65%).
By the end of 2025, the total volume of iron ore production decreased by 9% year-on-year, amounting to 6.14 million tons. During this period, Ferrexpo produced 3.22 million tons of iron ore pellets, which is 47% less than in 2024. At the same time, the production of commercial concentrate increased by 311% over the year, reaching 2.92 million tons. Last year, concentrate accounted for 48% of total production.
