Global Grain Shipments Fall as Black Sea Attacks Escalate

Over the last five weeks (week 29-33) global grain shipments have fallen 8% y/y, fuelled by a 26% y/y drop in grain exports from the Black Sea as Russian and Ukrainian attacks on ships and port infrastructure have intensified.

“A recent proposal by Ukraine to halt attacks on shipping in the Black Sea has been rejected by Russia, reducing hopes for a near-term recovery in exports. In addition, weaker maize shipments from Brazil due to delayed harvest have weighed on global grain volumes,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.

Attacks on ships in the Black Sea escalated on 6 July 2026 when Ukraine launched Operation MoLoChKa. The attacks initially targeted Russian-linked ships in the Sea of Azov but expanded into the Black Sea, where both ships and port infrastructure have been targeted. During the following weeks, Russia intensified attacks on Ukrainian ports and merchant ships, causing many shipowners to suspend calls at Ukrainian ports.

“While Black Sea ports account for only 3% of global dry bulk seaborne exports, the region plays a larger role in grain trade and account for roughly 14% of global seaborne grain volumes. Russia and Ukraine are among the world's largest exporters of wheat