The state-owned Ukrainian shipping company UDP (Ukrainian Danube Shipping Company) is releasing its fleet of ocean-going vessels for auction and intends to focus on a different segment in future.
In a statement on the Telegram platform, UDP announced that it will dispose of assets that are not part of its core business.
These are the ships that are used in maritime transport. In total, there are six freighters that were built in Portugal in 1992 and 1993 and have a carrying capacity of 3,700 tons. Following the end of a bareboat charter, they were returned to the UDP fleet last year. Major repair work was initiated for some of the ships.
Ukraine wants to modernise inland waterway fleet
“A painful decision, but the only right one. UDP’s key segment is river freight,” the statement now reads. UDP sees “development prospects” in this segment in particular and wants to generate resources for the modernisation of the inland waterway fleet. The ocean-going freighters are to be sold via a package auction.
Shipowners are definitely more interested in the repaired “Vilkovo” and “Izmail”, which are reportedly ready for operation and have all the necessary documents. However, it is also important to find a buyer for “Tatarbunary”, “Viana do Castelo”, “Kiliya” and “Reni”, which have been laid up for some time.
During the blockade of the ports of Odessa caused by Russia’s war of aggression, the Ukrainian government had set the task of ensuring the export of agricultural products from the Danube ports. In view of last year’s freight rates, rebuilding the fleet was a profitable investment with a short payback period, according to the UDP. “However, after the blockade of the Odessa ports was lifted, freight rates fell many times over. The Danube ports were empty. And the trend is disappointing,” it continues, explaining its intention to sell.
