Business news from Ukraine

Business news from Ukraine

Ukrainian Port of Reni for the first time received a ship with citrus fruits from Egypt

Port of Reni for the first time since the independence of Ukraine has attracted a new cargo flow – citrus fruits from Egypt, which in peacetime went through the larger ports of “Big Odessa”, the Administration of Sea Ports of Ukraine (AMPU) reported on Facebook.

“Last week a refrigerated vessel “ZEINAB”, equipped with enhanced ventilation and refrigeration units for the transportation of perishable goods, arrived at the port of Reni,” AMPU said in a statement.

In particular, 519.9 tons of fruit were delivered from Egypt: 150.3 tons of oranges, 169.4 tons of pomegranates, 31.05 tons of lemons and 169 tons of tangerines.

AMPU specified that citrus fruits were traditionally transshipped by Chornomorsk and Odessa ports.

The leader among them was the port “Chernomorsk”, which transshipped 253 thousand tons of citrus in the last five years: in 2018 – 83.6 thousand tons, in 2019 – 74.1 thousand tons, in 2020 – 43 thousand tons, in 2021 – 35.5 thousand tons and in 2022 – 16.8 thousand tons.

Port “Odessa” during the same period transshipped 134.2 thousand tons of citrus: in 2018 – 45.4 thousand tons, in 2019 – 40.4 thousand tons, in 2020 – 26.5 thousand tons, in 2021 – 14.3 thousand tons and in 2022 – 7.6 thousand tons.

AMPU reminded that now the ports of Greater Odessa work only within the framework of the “grain initiative”, so the cargo owners are forced to seek other ways to deliver citrus to consumers.
Earlier analytical project “Club of Experts” analyzed in detail the trade and economic cooperation between Ukraine and Egypt, see in detail in the video:

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Number of victims of earthquake in Turkey and Syria already exceeds 11 thousand people

The number of victims of a powerful earthquake in Turkey has reached 8,547, the number of victims exceeded 49,000, Turkish President Recep Tayyip Erdogan said Wednesday.
“The number of victims of the earthquake with its epicenter in Kahramanmarash province has reached 8,574, with 49,133 people affected and 6,444 buildings destroyed,” Erdogan said, speaking in Kahramanmarash, where he left earlier Wednesday to coordinate rescue efforts. He was quoted as saying by Anadolu Agency.
Earlier data were reported of 6,957 dead and 38.2 thousand wounded.
The president also noted that Turkey has involved “all levers and resources” to eliminate the consequences of the earthquake. He stated that the victims can stay in hotels in Antalya, Alanya and Mersin. Also the President announced that all the families of the victims of the earthquake will receive 10 thousand liras (about $530). According to him, new houses will be built in the affected areas within a year.
Erdogan urged to trust only the data on the earthquake zone, which is disseminated by the Emergency Prevention and Response Administration (AFAD).
At the same time, the EFE news agency reported 2,662 victims in Syria. Thus, the total number of victims of the earthquake in the two countries exceeded 11.2 thousand.
On Monday night, a powerful earthquake and ensuing aftershocks caused deaths and significant damage in several provinces of Turkey, as well as in neighboring Syria.

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Ukrainian President Volodymyr Zelensky flew to London

Ukrainian President Volodymyr Zelensky at the beginning of his visit to Great Britain noted his gratitude to the British people for the support provided to Ukraine.
“Great Britain was one of the first to come to the aid of Ukraine. And today I’m in London to personally thank the British people for their support and Prime Minister Rishi Sunak for his leadership,” Zelensky wrote on his Telegram Channel Wednesday.
Earlier, Zelensky landed at Stansted Airport on a Royal Air Force plane. He is scheduled to meet with Britain’s King Charles III, Prime Minister Rishi Sunak and the Ukrainian military.

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Ukraine reduced steel production 16.4 times

Steelmakers in Ukraine last December have reduced steel production in 16.4 times, or 93.9%, compared to the same period in 2021 – up to 106 thousand tons, ranking 38th in the ranking of 64 countries-major global producers of these products, according to the Worldsteel Association (Worldsteel).
According to Worldsteel, in December-2022 there was a decline in steel production against December-2021 in most of the top ten countries, except India and Iran.
The top ten steel-producing countries in December are as follows: China (77.890 million tons, down 9.8% from December-2021), India (10.569 million tons, up 0.8%), Japan (6.899 million tons, “minus” 13.1%), USA (6.510 million tons, down 8.3%), Russia (5.5 million tons, “minus” 11.3%) South Korea (5.249 mt, minus 11.6%), Germany (2.693 mt, minus 14.6%), Iran (2.650 mt, up 3.3%), Turkey (2.659 mt, minus 20%) and Brazil (2.505 mt, minus 5.2%).
Ukraine in December, is on the 38th position with 106 thousand tons of steel (down 93.9% against December 2021). The country produced 313 thousand tons of steel in November 2022, in October – 318 thousand tons, in September – 340 thousand tons, August – 366 thousand tons of steel, July – 281 thousand tons, June – 295 thousand tons, May – 308 thousand tons, April – 281 thousand tons, March – 200 thousand tons, February – 1.374 million tons, January – 1.851 million tons.
Overall, in December 2022, global steel production decreased by 10.8% over the same period in 2021 – to 140.695 million tons.
For the 12 months of 2022, the top ten steel producing countries are as follows: China (1.013 billion tons, down 2.1%), India (124.720 million tons, up 5.5%), Japan (89.235 million tons, down 7.4%), USA (80.715 million tons, “minus” 5.9%), Russia (71.5 million tons, down 7.2%), South Korea (65.865 mt, minus 6.5%), Germany (36.849 mt, minus 8.4%), Turkey (35.134 mt, down 12.9%), Brazil (33.972 mt, down 5.8%) and Iran (30.593 mt, up 8%).
Ukraine in 12 months of 2022 is in 23rd place with the melting of 6.263 million tons of steel (“minus” 70.7%).
In total, 64 countries produced 1 billion 831.467 million tons of steel in 2022, which is 4.3% less than in 2021.
As reported, for 2021, the top ten steel producing countries were as follows: China (1 billion 32.790 million tons, down 3%), India (118.134 million tons, up 17.8%), Japan (96.334 million tons, +14.9%), USA (86.012 million tons, +18.3%), Russia (75.970 million tons, +6, 1%), South Korea (70,556 million tons, +5.2%), Turkey (40,360 million tons, +12.7%), Germany (40,066 million tons, +12.3%), Brazil (36,039 million tons, +14.7%) and Iran (28,460 million tons, -1.8%).
They were followed by Italy (24.4 million tons, up 19.7%), Vietnam (23.560 million tons, +4.8%), Taiwan (PRC, 23.250 million tons, +10.9%), Ukraine (21.366 million tons, +3.6%) and Mexico (18.4 million tons, +9.5%).
Overall, 64 countries produced 1 billion 911.945 million tons of steel in 2021, an increase of 3.6% over 2020.

Germany approves delivery of 187 Leopard 1 tanks to Ukraine

The German government has approved the supply of Leopard 1 main battle tanks to Ukraine. A total of 88 tanks from the Rheinmetall Group and 99 tanks from Flensburger Fahrzeugbau Gesellschaft have been approved for export, Business Insider reported.
It is noted that the official figures will be released on Tuesday.
At the same time, the publication’s sources in the German government say, funding for tank repairs has not yet been secured. It should be definitively clarified only in the next few weeks.
In addition, the first tanks are not expected to be delivered until the middle of this year. The exact number of them has not yet been established, insiders say, it also depends on funding. It is also unclear whether all 187 Leopard 1s will eventually be combat-ready, or whether many of the tanks will have to be used as spare parts depots.
Furthermore, private conversations within the government also point out that the military and strategic significance of tank delivery is not so much in the vehicles themselves, but in the change in the ammunition used. The Leopard tanks use the NATO standard 105mm caliber, which means a much better supply of ammunition for Ukraine, as it cannot produce ammunition for its old Soviet tanks itself. In the long run, this could increase the resilience of the Ukrainian army.

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Oil prices moderately higher, Brent at $83.8 barrel

Benchmark crude oil is moderately expensive Wednesday morning after rising to weekly peaks the day before, driven by hopes for a recovery in demand in China and fears of supply disruptions due to an earthquake in Turkey.
The price of April futures for Brent on London’s ICE Futures Exchange stood at $83.78 a barrel by 7:20 a.m., $0.09 (0.11%) higher than at the close of the previous session. Those contracts rose by $2.7 (3.3%) to $83.69 a barrel at the close of trading on Tuesday.
The price of WTI futures for March at electronic trades of the New York Mercantile Exchange (NYMEX) is $77.35 per barrel by that time, which is $0.21 (0.27%) above the final value of the previous session. The contract rose by $3.03 (4.1%) to $77.14 a barrel, the highest since January 31.
As earlier reported, the work of Turkish Ceyhan oil terminal was suspended after the earthquake that killed over 7,000 people in Turkey and Syria.
In addition, the market continues to assess the words of the head of the International Energy Agency (IEA) Fatih Birol that China’s economic recovery may proceed at a faster pace than expected, which in turn will lead to a global increase in demand for oil and LNG.
Meanwhile, American Petroleum Institute (API) data released on Tuesday night showed a 2.18 million barrel decline in U.S. inventories for the week ended February 3.
The official report on U.S. energy reserves will be released Wednesday at 5:30 p.m. Analysts polled by Trading Economics expect an average increase of about 2.5 million barrels of oil reserves.

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