Ferrexpo, the London-listed iron ore miner with operations in Ukraine, has agreed to sell its transshipment vessel 'Iron Destiny' for $7.7 million. 

Since the war, the group has had little use for the vessel, making its intended operation impossible. Still, Ferrexpo kept paying monthly maintenance and capital costs to keep it seaworthy.

With no clear end to the war in sight, rising costs, and the ship nearing the end of its operational life, the board decided to sell. The deal is subject to the vessel’s transfer and other standard closing conditions, with completion expected later in April.