Odesa Business Intel

Kernel, Ukraine's largest agribusiness by revenue and the country's leading sunflower oil exporter, has increased its utilization of the Chornomorsk terminal following a war-risk insurance adjustment that improved economics for direct Black Sea routing. The company confirmed the routing shift in its Q1 2026 trading update. Kernel operates the largest private grain terminal at Chornomorsk, with an annual throughput capacity of approximately 9 million tonnes. The terminal has its own war-risk insurance arrangement under a dedicated fleet program, which secured more favorable premium rates than open-market spot insurance for individual voyage cover. The routing shift has a direct impact on Odesa and Danube port volumes. Kernel had been directing a larger share of flows through Reni and Izmail during periods when Black Sea war-risk costs peaked in 2024–2025. The return of Kernel volume to Chornomorsk contributes to the port cluster's 2025 throughput record.