Business news from Ukraine

Business news from Ukraine

“Ukrposhta” announced tender for MTPL insurance

The Ukrainian state postal enterprise Ukrposhta (Kyiv) announced a tender for compulsory civil liability insurance (CMTPL) on June 13.
As reported in the electronic public procurement system “Prozorro”, the expected cost -672.354 thousand UAH.
Documents will be accepted until June 19.
As reported, the winner of a similar tender was IC “Guardian”.

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Energoatom’s corporatization may take place in six months – opinion

NNEGC Energoatom expects to complete corporatization of the enterprise, according to optimistic estimates, in half a year, according to pessimistic estimates, in a year, said the president of the company Petr Kotin.
“Energoatom’s corporatization is moving at quite a fast pace. According to pessimistic estimates, it will take us a year to be fully corporatized. On the optimistic side, half a year. There are many processes going on now; one of them is the stocktaking of all assets and collection of creditor claims. This is not an easy procedure,” said Mr. Kotin in his interview to journalists during visit of one of the NPPs.
At the same time, he specified that with regard to the Zaporizhzhya NPP occupied by the Russian invaders “we will use preliminary, pre-war inventory data for the time being, and then (after the return of the plant under Ukrainian control – ER) we will adjust.
As reported, at the beginning of May the Cabinet of Ministers reorganized the state enterprise by transforming it into the National Nuclear Energy Generating Company Energoatom, 100% of the shares in the authorized capital of which belong to the state and are not subject to privatization or alienation in any other way.
As noted by the Prime Minister of Ukraine Denis Shmygal, it will improve the efficiency of management, attract additional funds for new projects and strengthen energy independence.
The Cabinet of Ministers also created a commission for Energoatom’s transformation and approved its composition, set a two-month deadline for lenders to file their claims against the company, and formed an inventory commission.
Before that, on February 6, 2023, the Verkhovna Rada of Ukraine passed the draft law 8067 on corporatization of the state-owned enterprise Energoatom during the second reading.
The corporatization of Energoatom is stipulated by the loan agreement between the company and the European Bank for Reconstruction and Development (EBRD) and the guarantee agreement “The Integrated Generalized Program of Nuclear Power Plants Units Safety Enhancement,” ratified by Verkhovna Rada.
“Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates Zaporizhzhya, Pivdenno-Ukrainian, Rivne and Khmelnitsky power plants with 15 power units, equipped with water-water power reactors, with total installed electric capacity of 13,8 GW. The 6GW ZNPP has been under Russian occupation since May 4, 2022.

European Central Bank raises inflation forecasts and worsens GDP growth estimate

The European Central Bank (ECB) upgraded its inflation forecasts for the euro zone from 2023 to 2025, worsening its estimate of GDP growth in the next two years.
According to new forecasts released by the ECB at its meeting on Thursday, consumer price growth in the euro zone will be 5.4% this year, 3% next year and 2.2% in 2025. In March, inflation was expected to be 5.3%, 2.9% and 2.1%, respectively.
Core inflation, which excludes food and energy costs, is expected to be 5.1% this year before slowing to 3% in 2024 and 2.3% in 2025.
The forecast for euro area GDP growth for 2023 has been lowered to 0.9% from the previously assumed 1%, and for next year to 1.5% from 1.6%. The estimate of the economic growth rate in 2025 remained unchanged at 1.6%.

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“Nibulon” delivered 80 thousand tons of grain to port of Constanta with its own fleet

Nibulon” JV LLC (Mykolaiv), one of the largest operators at the grain market of Ukraine, in January-June 2023 transported by its own fleet from the branch “Bessarabskaya” (Izmail) to Constanta, Romania about 80 thousand tons, or 15% of the total shipments of the company during this period.
According to the grain trader’s website, this was made possible by the redeployment of the fleet from Nikolaev, which involved disassembly of the vessels, their transportation by land to the Danube and their subsequent reassembly at the Bessarabian branch. In total two port tugs “Nibulon-12” and “Nibulon-14”, tugs “Nibulon-3” and “Nibulon-11” and two handling machines Terex Fuch mhl 385 were transported this way.
The announcement indicates that the Nibulon also began providing tug, mooring and unmooring services for vessels on the Danube. In January-June 2023, the number of hours worked in this way increased 18-fold.
“In the spring, Nibulon was able to resume shipping on the Middle Dnieper. Now tugs “Nibulon-10”, “Hermes-2” and non-self-propelled barges UAK-1, UAK-2, UAK-3, UAK-4 work here, and the branch “Kremenchugskaya” acts as a central transshipment hub that receives grain from water transport and reloads it into the cars”, – stressed the press service of grain trader and added that during April and May 2023 more than 15 thousand tons of grain were transported this way.
It is noted that the shipping company of the grain trader plans to increase the volume of services to third parties in Ismail, as well as to increase the volume of traffic to Constanta by optimizing the routes.
“The experience of sea routes in winter and spring allows the company to choose exactly sea routes instead of the Danube, which affects the speed of the fleet,” summarized the “Nibulon”.
JV Nibulon LLC was founded in 1991. Before the Russian military invasion, grain trader had 27 transshipment terminals and complexes to receive the crops, the capacity for one-time storage of 2.25 million tons of agro products, a fleet of 83 ships (including 23 tugs) and owned the Nikolayev shipyard.
“Nibulon” before the war worked 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries.
The grain trader exported a maximum of 5.64 million tons of agricultural products in 2021, reaching a record volume of deliveries to foreign markets in August – 0.7 million tons, the fourth quarter – 1.88 million tons and in the second half of the year – 3.71 million tons.

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Ukrainian Foreign Minister offers African countries to develop trade and cybersecurity

As part of the Ukrainian-African renaissance, Ukraine seeks to develop relations of mutual respect and benefit with African countries, in particular offering a number of beneficial areas of cooperation for Nigeria’s new leadership, Ukrainian Foreign Minister Dmitry Kuleba said in an interview with the Nigerian edition of The Guardian Nigeria.
“In May, I became the first Ukrainian foreign minister to attend the presidential inauguration ceremony in an African country. It was Nigeria. This fact shows Ukraine’s commitment to developing relations with Nigeria’s new leadership. This way we show other African countries that Ukraine seeks to develop partnership based on mutual respect and shared benefits,” he said, according to the press service of the Ukrainian Foreign Ministry.
According to Kuleba, Ukraine has made steps towards each other in the spirit of mutual respect and now counts on reciprocal steps of the new leadership of Nigeria to develop mutually beneficial relations.
“We propose to increase the volume of trade and consider the possibility of attracting Ukrainian construction companies to projects in Nigeria. Ukraine also has a lot of experience in digitalization. Our “State on Smartphone” program allows citizens to do almost everything online, receive public services. We are ready to share this experience with you. Another promising area of cooperation is cybersecurity. Nigeria is one of the countries that suffer from the highest number of cyber attacks. We know how to counter them effectively,” he said.
Kuleba also stressed that the Peace Formula proposed by Ukrainian President Vladimir Zelensky is the only real way to restore a just and sustainable peace in Ukraine.
“Imagine if Nigeria, God forbid, experienced aggression – would you agree to give up part of your territory, allow someone to occupy it and torture your people? You wouldn’t agree to that. Being at the inauguration of your president, I saw your army. I am convinced that your warriors would have fought resolutely for your land. That is what we are doing today. We did not start this war. The hostilities are taking place on our territory, but we know what we are fighting for: the freedom and security of our citizens. And that motivates us to fight against the invaders,” the minister said.

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“Ukrtransgas” announced tender for insurance

Ukrtransgas PJSC (Kyiv) announced a tender for voluntary motor transport insurance on June 15, the electronic procurement system Prozorro reports.
The expected price of purchasing the respective services is UAH 229.5 thousand.
The deadline to apply for participation is June 23.
“Ukrtranshaz, which is 100% owned by Naftogaz of Ukraine, operates a system of main gas pipelines and 12 underground gas storages in the country.

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