Russian Grain Transshipment Rises Despite Port Slowdown

• Supportive grain flows: Russian grain transshipment rose 6.1% year-on-year to 7 million tonnes in Jan–Feb 2026 despite softer overall port activity.
• Weaker broader cargo mix: Total port turnover fell 4.7% to 129.5 million tonnes, with mineral fertilizer and bulk food shipments declining sharply.
• Potential freight advantage for grain: Reduced fertilizer and bulk food volumes may free port capacity and vessel slots, supporting competitive freight for grain exporters.

Russian Grain Transshipment Edges Higher

Russian seaports increased grain transshipment volumes in the first two months of 2026, highlighting resilient export flows from the Black Sea. According to data from the Association of Sea Trade Ports of the Russian Federation, grain handling reached 7 million tonnes in January–February, a 6.1% rise versus the same period in 2025.

This grain strength contrasts with weakness in other cargo segments. Mineral fertilizer shipments fell 8.5% to 6.9 million tonnes, while bulk food cargo dropped 21.3% to 0.7 million tonnes. Overall port cargo turnover declined 4.7% year-on-year to 129.5 million tonnes across all Russian seaports.

Cargo Turnover Breakdown

Market Implications

The continued growth in grain transshipment underlines firm import demand for Russian wheat and feed grains, helping sustain export momentum from Black Sea ports. Steady grain flows at a time of weaker fertilizer and bulk food movements could translate into more available berth and vessel capacity for grain, potentially supporting favorable freight terms.

At the same time, the 4.7% contraction in overall port turnover signals broader logistical and demand headwinds across Russia’s seaborne trade. If reduced fertilizer and bulk food volumes persist into the spring shipping season, port operators may face underutilization in some terminals, while grain shippers could benefit from improved scheduling flexibility and reduced congestion risk.

Source: Market Data