Drone Strikes Drive One in Five Coal Ships Out of Russia’s Black Sea Export Trade

The number of vessels available to transport Russian coal through the Black Sea fell by around 21% in one month as growing security and insurance risks prompted shipowners to leave the region or suspend operations.

According to Russian business newspaper Kommersant on August 3, the number of available bulk carriers—ships designed to transport commodities such as coal—declined to 97 by the end of July. That represents a 28% decrease compared with the same period last year, based on data from Russia’s Center for Price Indices.

The shortage has been linked partly to difficulties obtaining insurance coverage for vessels entering the Azov and Black Sea region. Kommersant reported that some insurers have become unwilling to cover ships operating in waters increasingly affected by drone attacks.

Market concerns intensified after the Turkish-owned bulk carrier MV Reyhan Sari was attacked on July 22 while transporting coal from the Russian port of Taman to Trabzon, Türkiye.

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Following the incident, medium- and large-capacity bulk carriers began relocating to other shipping regions, while smaller vessels were placed in temporary lay-up until security conditions improve.

The reduction in available shipping capacity has also affected commercial activity. No new Black Sea coal deals were concluded during the previous week as freight rates increased and Russian exporters faced difficulties securing vessels.

Turkish buyers have also experienced reduced supplies from Russian coal exporters following the attack on the MV Reyhan Sari, Kommersant previously reported.

The reduction in available coal carriers comes amid broader disruption to Russian shipping in the Black Sea. On July 31, Ukrainian naval drones struck and sank the Russian-flagged container ship Yanina, operated by Rosatom-controlled logistics company FESCO, approximately 130 nautical miles from Novorossiysk. All 17 crew members were rescued.

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