Agriculture, Maritime & Shipping, Grains
August 20, 2026
Escalating ship attacks at Russian Black Sea ports stall wheat trade
Editor:
HIGHLIGHTS
Drone strikes hit five grain vessels this week
Russian Aug wheat exports plunge to 1.8 million mt
Freight costs surge to $70/mt from Black Sea to Egypt
A wave of drone strikes has hit Russia's Black Sea grain trade, intensifying risks and stalling exports as five new vessels were hit this week near the key ports of Novorossiysk and Tuapse, market sources said.
The escalation comes amid mounting tensions since July 10, with shipowners increasingly steering clear of Russian ports. The escalation has halted grain shipments from Russia's Azov Sea ports since July, representing roughly a quarter of Russian grain exports. Last week, three terminals at Novorossiysk's deep-sea port were shut down following attacks.
Summary of ship attacks at Russian Black Sea ports Aug. 17 and 18:
| Vessel Name | Location | Cargo | Destination | Status/Incident |
| Victoria V | Novorossiysk KSK | 7,000 mt wheat | - | Attacked while preparing to load |
| Fehu | Novorossiysk NZT | 54,000 mt wheat | Bangladesh | Hit after departure, continued |
| Elina B | Novorossiysk NKHP | 56,300 mt wheat | Bangladesh | Attacked post-loading, continued |
| Necibe | Tuapse | 20,000 mt wheat | - | Struck by drones, scheduled to load |
| Anna S | Novorossiysk KSK | 60,000 mt barley | - | Drone strike caused fire, halted |
Source: Market participants
Market reactions have been swift. Platts wheat benchmark, the Milling Wheat Marker dropped $6/metric ton week over week to $215/mt as of Aug. 20, a record low since September 2020, with FOB buying largely avoided and shipowners shunning Russian ports.
"I don't see the Novorossiysk market; nothing is happening there," said one Russia-based seller. A second seller said, "Owners are asking $70/mt freight to Egypt from deep-sea ports, which limits the business. I would rather not trade."
In August, Russian analytical center Rusagrotrans slashed its wheat export forecast to 1.8 million mt, down from last year's 4.5 million mt. The last time August exports were this low was during the 2010 export ban, due to severe drought and crop losses. "I can sell from the deep sea, but the vessel will not come," said a third Russian seller, highlighting the lack of vessel calls.
Sellers have shifted to the Baltics, offering Russian wheat FOB in the low to mid-$260s/mt, but bids remain $10/mt lower on FOB. FOB Vysotsk traded $255/mt Aug. 19. Freight to Egypt from the Baltics is at $48/mt. "There are lots of FOB buyers, mostly tender traders short covering," said a trader of wheat from the Baltics.
The ruble weakened to its lowest level since March at 83 rubles/$1, amplifying concerns about cheap export prices and higher taxes. Overall, Russian wheat export potential is seen falling below 40 million mt if disruptions persist, as the Baltics cannot absorb more than 10 million mt, the second Russian seller said. Baltic logistics remain constrained by storage capacity and a continued heavy reliance on rail transport, which has only recently begun to ramp up.
