Ukrainian Railways in 2024 transported for export 33 million tons of iron ore

In 2024, Ukrainian Railways JSC (UZ) increased iron ore exports by 1.7 times compared to 2023, up to 33 million tons. This was reported to GMK Center by the railway operator’s press service.

Over the year, 18.31 million tons of iron ore were transported to ports, up 3.7 times year-on-year. The railroad transported 14.69 million tons of iron ore (-0.4% y/y) to land border crossings.

Export transportation of ferrous metals increased by 13.7% y/y – to 5.17 million tons. In particular, 3.52 million tons were shipped to ports (+2.1 times y/y), and 1.65 million tons (-41.9%) to land border crossings.

Thus, thanks to the opening of the sea corridor for iron and steel cargo, export destinations have diversified and increased significantly compared to 2023.

“The stable operation of the Ukrainian Sea Corridor provides an opportunity to increase the volume of rail transportation of Ukrainian goods to foreign markets through the ports of Greater Odesa. The agricultural and metallurgical industries retain the status of the basis of Ukrainian cargo traffic in export traffic in the current conditions,” UZ notes.

In 2024, the total volume of cargo transported by Ukrainian Railways increased by 17.9% compared to 2023 to 174.9 million tons. In particular, in export traffic – 84.67 million tons (+51.2% y/y), in import traffic – 9.63 million tons (+40.9%). Domestic transportation decreased by 5.5% y/y – to 80.2 million tons.

In December 2024, export transportation of iron ore amounted to 2.98 million tons (+27.1% m/m, +19% y/y), ferrous metals – 478.8 thousand tons (+33% m/m, +8.8% y/y). The total volume of transportation amounted to 14.03 million tons (+0.5% m/m; +2.6% y/y). The company exported 7.21 million tons of cargo, up 12.6% m/m and 8.9% y/y.

As GMK Center reported earlier, in 2023, Ukrainian Railways transported 148.4 million tons of cargo, down 1.5%, or 2.2 million tons, compared to 2022. The transportation of iron ore decreased by 13.2% y/y – to 27.5 million tons, ferrous metals – by 10.6% y/y, to 8.2 million tons, and grain – by 5.9% y/y, to 30.6 million tons.