Seaports of Ukraine in January-March 2019 handled 36.96 million tonnes of cargo, which is 12.43% more compared to the same period of 2018.
According to the Ukrainian Sea Ports Authority, the products of the agro-industrial complex, the mining and smelting complex, container cargoes, as well as fertilizers contributed to the upward dynamics in transshipment.
According to the authority, in January-March, the volume of transshipment of grain cargo amounted to more than 13.7 million tonnes, which is 33.5% more than the same period last year. Ore transshipment increased by more than 30% (7.8 million tonnes against almost 6 million tonnes in the first quarter of 2018). Almost 6% growth was for vegetable oil – about 1.6 million tonnes were already handled.
The growth trend in container cargo handling continues: in the first quarter of 2019, 223,500 TEU were handled, which is more than 14% higher than the same period last year.
“Since the beginning of the sowing campaign, the increase in imports of chemical and mineral fertilizers, both packaged and bulk ones, continues. The total volume of their transshipment in the first quarter of 2019 amounted to almost 640,000 tonnes, which more than twice bigger than the same figure of last year”, the authority said.
As in the first quarter of 2018, the growth in total transshipment volumes took place primarily thanks to exports, which increased by almost 5 million tonnes (a rise of 20.1%), while imports and transit, on the contrary, decreased by 6.1% and 17.2%, respectively.
In January-March, the Yuzhny port became the absolute leader in terms of cargo handling volumes – 11.6 million tonnes, which is almost 19% more than in the same period of 2018. The figure of 8 million tonnes was exceeded by the port of Mykolaiv: in general, the transshipment volume here reached 8.12 million tonnes, which is more than 26% more than the same period last year. Over three months, the ports of Chornomorsk and Odesa handled over 6 million tonnes of cargo: 6.37 million tonnes and 6.22 million tonnes, respectively.
Since the beginning of 2019, Ukrainian seaports handled 2,838 vessels, which are 15 units less than in January-March 2018.
Some 1,370 passengers used services of water transport in the ports over the period (33% more than a year ago).
S&P Global Ratings affirmed its ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings on Ukraine. The outlook is stable. “While the economy is growing and inflation is on a downward path, the financing outlook is uncertain for government foreign currency redemptions beyond 2019, when Ukraine will have to negotiate a fresh agreement with the International Monetary Fund (IMF),” S&P said.
Ukraine faces sizable external debt repayments against the backdrop of presidential and parliamentary elections in 2019.
The stable outlook reflects our expectation that Ukraine will broadly comply with the terms of the $3.9 billion IMF stand-by arrangement, potentially with some delays.
Ratings pressure could build if disruptions to funding from concessional programs or capital market access over the next year call into question Ukraine’s ability to meet large external repayments over the remainder of the year and in 2020.
“An adverse final ruling in Ukraine’s legal battle with Russia over a Eurobond issued in December 2013, and held by Russia, could have implications for Ukraine, in our opinion. Such a ruling could be some years away. However in a worst-case scenario, it might create technical constraints for Ukraine’s ability to repay its commercial debt held by other creditors, which would pressure the ratings. We note that the government believes there is no potential for technical constraints on debt service, even in the case of an adverse ruling in the future,” S&P said.
“We could consider a positive rating action if we see improvements in growth, fiscal and external imbalances beyond our expectations, and if we conclude that the security situation in the non-government-controlled areas in the East of the country has stabilized and further escalation is unlikely,” S&P said.
Average retail prices for petrol in Ukraine in the period from April 5 through April 12, 2019 grew by 0.7-1%, while prices of diesel fuel remained unchanged, according to data from the A-95 Consulting Group (Kyiv). Prices of LPG continued growing, by 2.86% over the reporting period.
As reported, the average retail price for LPG in March rose by 20%, to UAH 12.57 per liter.
Changes in average retail fuel prices UAH per liter in Ukraine:
©Source: A-95 Consulting Company
One troy ounce=31.10 grams
Ukraine in March 2019 increased generation of electricity by renewable energy facilities 1.9 times (by 195.8 million kWh) compared to March last year, to 409 million kWh. According to the Energy and Coal Industry Ministry, in January-March 2019, the production of electricity by renewable energy facilities increased 1.6 times (by 317.5 million kWh) compared to the same period last year, to 850.3 million kWh.
The share of renewable energy in the structure of electricity production in March 2019 amounted to 2.9%, which is 1.5 p.p. more than in March 2018. The share of renewables in the first quarter of this year was 1.9%, which is 0.7 p.p. more than January-March 2018.
As reported, the forecast electric power balance of Ukraine, updated at the beginning of April, envisages production of electricity by renewable energy facilities in the amount of 5.979 billion kWh, which is 2.3 times (2.633 billion kWh) more than in 2018.
Ukraine in January-March 2019 introduced 861.1 MW of renewable energy facilities, which is 5.4 times more than in the same period of 2018, and 16% more than in the entire of 2018.
