One of the largest grain market operators in Ukraine, Nibulon JV LLC (Mykolaiv), has purchased 76 Scania R450 Euro 5 tractors and 64 semi-trailers from the Belgian manufacturer STAS as part of its strategy to develop its logistics business, the grain trader’s press service reported on Facebook.
According to Nibulon, the first batch of purchases amounts to 30 sets, of which five have already entered Ukrainian roads.
The company explained that due to the reorientation of logistics chains in the war, Nibulon is forced to use combined routes, including the transportation of grain by truck. The company uses such routes in its southern branches, in particular, in Voznesenskiy and Novoodesskiy river terminals, as well as from the terminal in Mykolaiv, which currently serves as a dry port, to Bessarabskiy.
To minimize the load on the roads and environmental impact, agricultural products from all water elevators located along the Dnipro River and blocked due to the explosion of the Kakhovka hydroelectric power station are transported by road to the elevators for rail shipment.
To reduce the weight of the road train and increase the payload, 30 of the 64 semi-trailers are all aluminum, including the frame. All tractors are equipped with 13-liter economical engines with an output of 450 hp and a torque of 2350 Nm and a Scania Opticruise automatic transmission.
In addition, for safe driving, an AEB emergency braking system, headlights and LED fog lights are installed. 7 units of equipment are used in the ADR FL configuration, which will be used for fuel transportation.
“Thanks to a diversified transport system that includes road, rail and water transport, Nibulon has managed to build new supply chains, reduce the cost of our logistics and thus increase the purchase prices for farmers,” says Sergiy Kalkutin, Logistics Director.
According to him, in 2024, the logistics department plans to completely renew the truck fleet of the freight transport service. In particular, trucks from Scania Ukraine will be an effective enhancement of the business, Nibulon believes.
At the conclusion of the agreement, Håkan Jyde, CEO of Scania Ukraine, noted that the company is proud to partner with Nibulon.
“We are pleased to be involved in the realization of an important goal – to ensure food exports in the interests of the Ukrainian economy and global food security,” said Håkan Jyde. – “We facilitate the work of the exporter and provide financial instruments to reduce the burden on business. Thus, the entire contract was financed on lease by Scania Credit Ukraine and insured with hull insurance. All trucks are also connected to the Scania FMS fleet monitoring system. “We are currently offering Nibulon the wide range of services and driver training offered by Scania Ukraine, as it is in our common interest to improve the performance of our vehicles,” said the head of Scania Ukraine.
“Nibulon expressed gratitude to Scania Ukraine and Scania Credit Ukraine for their long-term cooperation and support in the implementation of the truck fleet renewal project.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, a capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries.
In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
State-owned Oschadbank ended 2023 with UAH 4.75 billion in net profit, 7.4 times higher than the financial result of 2022 (UAH 0.638 billion), the financial institution said in a press release on Monday.
“The final amount of net profit in 2023 was significantly affected by an increase in the corporate income tax rate for banking institutions (from 18% to 50%) (…), as well as a negative revaluation of derivatives – government bonds with an indexed value in the capital of Oschadbank in the amount of UAH 2.9 billion,” the financial institution explained.
Regarding the bonds, Oschadbank emphasized that their fair value is influenced by external factors beyond the bank’s control, such as exchange rates and interest rates.
It is indicated that the pre-tax profit of the state-owned bank amounted to UAH 9.5 billion, which is a historical maximum.
“Compared to last year’s figures, Oschadbank’s net interest income increased by 26% to almost UAH 19 billion, while net commission income increased by 14% to UAH 7 billion,” the release says.
According to the release, in the face of the national currency devaluation, the bank managed to keep its operating expenses at the same level as last year due to effective management of operating expenses.
At the same time, Oschad’s operating profit, before provisions for credit risks, revaluation of derivatives and taxation, amounted to UAH 12 billion, which is 52% higher than in 2022.
As for the volume of customer accounts, in 2023 it increased by 28% to UAH 300 billion. The bank specifies that the growth of stable term customer accounts was 26%, and their volume reached UAH 100 billion.
Over the four quarters of 2023, Oschad managed to increase its loan and investment portfolio by 16% to UAH 263 billion. In particular, retail loans increased by 30% to UAH 15 billion.
It is noted that at the same time, the state-owned bank maintained a consistently high level of liquidity to ensure the smooth implementation of all client payments.
“A balanced credit policy taking into account the risks of wartime and the gradual liberation of our land from the occupiers contributed to the improvement of the quality of the Oschadbank loan portfolio and the dissolution of UAH 1.4 billion of provisions for expected credit risks on interest-bearing assets,” the financial institution said in a release.
The press service of Oschadbank informed that the bank has sufficient liquidity and capital reserves. According to the data provided, the regulatory capital adequacy ratio of the state-owned bank as of January 1, 2024 is 16.57%, while the NBU standard is 10%.
In January this year, Zaporizhzhia-based Zaporizhstal Iron and Steel Works increased its rolled steel output by 2.6 times year-on-year, up to 196 thousand tons from 74.6 thousand tons.
According to the company’s information on Monday, steel production during this period also increased by 2.6 times to 235.5 thousand tons, and pig iron production by 56.9% to 261 thousand tons.
In December 2023, Zaporizhstal produced 265.5 thousand tons of iron, 228.6 thousand tons of steel, and shipped 206.5 thousand tons of rolled products.
“The increase in production in January 2024 compared to the same period last year is due to the removal of blast furnace No. 2 from hot mothballing and the establishment of three blast furnaces in March 2023,” the press release explains.
As reported, in 2023, Zaporizhstal increased its rolled steel output by 57.2% compared to 2022, up to 2 million 54.7 thousand tons, steel by 65.4%, up to 2 million 466.9 thousand tons, and pig iron by 35.3%, up to 2 million 718.9 thousand tons.
In 2023, the plant operated at an average of 70% of its capacity.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries around the world.
“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.
In 2024, 184 models of such car brands as Aston Martin, Audi, Bentley, BMW, Cadillac, Jaguar, Land Rover, Lexus, Maserati, Mercedes-Benz, Porsche, Rivian, Tesla will be subject to a transport tax of UAH 25 thousand in Ukraine, Ukravtoprom said on its Telegram channel, citing a list published by the Ministry of Economy.
“Ukravtoprom reminds that the “luxury tax” applies to cars up to five years old and costing more than 375 minimum wages (currently the minimum wage is UAH 7100), which means that in 2024 it will be UAH 2 million 662.5 thousand and above.
According to the list, the most taxable car models are Mercedes-Benz – 66 (including 13 electric vehicles) and BMW – 48 (including five electric vehicles), followed by Land Rover – 17 models (in 2023 – 21).
There are 16 models of Porsche cars on the list, as opposed to 79 last year, when they were the leader in terms of the number of models on the list, and Toyota cars left the list of taxable “luxury” cars (in 2023, four Toyota Land Cruiser models were included).
At the same time, unlike last year, the list includes Aston Martin (16 models with gasoline engines), Audi (five models, including the RS e-tron GT electric car), Cadillac Escalade, two Maserati models, and Rivian R1T.
“Ukravtoprom also reminds that the tax must be paid: by individuals within 60 days after receiving the notification; by legal entities in advance quarterly installments by the 30th day of the month following the reporting quarter reflected in the annual tax return.
As reported, in 2023, 225 car models of nine brands (Porsche, Tesla, Toyota, Land Rover, Lexus, Bentley, Jaguar, BMW, Mercedes-Benz) worth from UAH 2.51 million were subject to the transport tax.
PJSC Ukrnafta is starting construction of a new directional well in the northeast of the country with a design depth of 3314 m and a projected initial oil production rate of 26.5 tons per day.
According to the company’s CEO Sergiy Koretsky on Facebook, the drilling is planned to explore the productive horizon of the Lower Carboniferous Visean deposits and its further exploitation.
The well will be drilled by Ukrnafta Drilling, the company’s division, using its own ZJ-40 drilling rig with a 225-ton capacity.
“This is the first of 30 wells that Ukrnafta plans to start drilling with its own drilling equipment in 2024. I am grateful to the team – geologists, drillers, engineers – who are working to ensure that the Ukrainian oil industry develops and brings the country a valuable resource,” Koretskyi said.
As reported, in 2023, Ukrnafta increased oil and condensate production by 3% (by 39.9 thousand tons) compared to 2022 – up to 1 million 409.9 thousand tons, gas production by 5.8% (by 60.4 million cubic meters), up to 1 billion 97.4 million cubic meters.
“Ukrnafta’s strategic goal is to double its oil and natural gas production to 3 million tons and 2 billion cubic meters by 2027, respectively.
“Ukrnafta is Ukraine’s largest oil producer and operator of a national network of 537 filling stations, of which 456 are in operation.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense, to the state.
The Cabinet of Ministers has simplified the conditions for exporting sunflower seeds to Bulgaria and established an automatic licensing regime instead of a non-automatic one.
According to the official website of the government, the decision was made at the meeting of the Cabinet of Ministers on Friday.
“Recently, the Republic of Bulgaria has agreed to liberalize the export licensing regime for one of these agricultural commodities, namely sunflower seeds. From now on, obtaining licenses to export sunflower seeds to Bulgaria will not require the approval of the Ministry of Agrarian Policy and, accordingly, separate consultations with this country,” the press service of the Cabinet of Ministers quoted Taras Kachka, Deputy Minister of Economy of Ukraine – Trade Representative, as saying.
According to him, this should simplify the export of relevant Ukrainian products.
Earlier, in order to unblock Ukrainian exports of agricultural products through neighboring EU countries, the government introduced verification and approval (licensing – IF-U) of wheat, corn, rapeseed and sunflower exports to Bulgaria, Romania, Slovakia, Hungary and Poland.
