Business news from Ukraine

Business news from Ukraine

American Chamber of Commerce warns of threats to safety of Ukrainian shipping

https://chamber.ua/ua/news/amerykanska-torhovelna-palata-zaklykaie-mizhnarodnykh-partneriv-posylyty-povitrianyy-ta-morskyy-zakhyst-nad-ukrainskoiu-portovoiu-infrastrukturoiu-chornoho-moria/

The business community, united by the American Chamber of Commerce in Ukraine (the Chamber), calls on international partners to immediately increase air and sea defense over Ukraine, particularly the Odesa region and critical Black Sea port infrastructure.

Russia continues to destroy and humiliate American businesses in Ukraine. Russia’s recent missile and drone attacks targeting Ukraine and the Odesa region

  • resulted in injuries and deaths of port workers and ship crews
  • damaged ports, energy facilities, grain storage facilities and commercial vessels
  • reduced the operation of terminals by up to 50%, some of them have been shut down, most of them are running on generators
  • caused large-scale power outages and additional costs for the use of generators
  • damaged power plants and power grids that require urgent repairs
  • limited railroad connections to ports
  • caused downtime of commercial vessels and demurrage charges

The current situation poses a direct risk of disrupting global food and commodity supply chains, with far-reaching consequences for international markets and food security, including higher food prices and worsening hunger in vulnerable countries.

While it is difficult to estimate the real-time losses of grain and oilseed exporters, they are currently estimated at hundreds of millions of dollars per month. Without substantial strengthening of air and maritime defense systems, both Ukrainian and international businesses will face critical operational challenges, including the inability to charter vessels and obtain insurance coverage for vessels, crews, and cargo.

The Chamber calls on international partners to urgently strengthen Ukraine’s air and maritime defense in order to save civilian lives, ensure the security of critical infrastructure, ports, and the continuity of global trade and food supply chains.

https://interfax.com.ua/news/press-release/1129438.html

 

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MINISTRY OF INFRASTRUCTURE OF UKRAINE ESTIMATES LOSSES OF PORT INFRASTRUCTURE AT TENS OF BILLIONS OF HRYVNIAS

Today, the Ministry of Infrastructure of Ukraine estimates the losses of port infrastructure from the war with the Russian Federation at tens of billions of hryvnias, but the exact figure will be given only after gaining access to all infrastructure, which is currently located in the temporarily occupied territory.
“The most damaged infrastructure in the Mariupol seaport, there is also damaged infrastructure in the Berdyansk seaport, in the Olvia port, there is some damage in the Chernomorsk seaport, the Nikolaev seaport. But we cannot say exactly the number of damage in ports we do not control, as it is necessary to gain access to this infrastructure. However, today we understand that we are talking about tens of billions of hryvnias, but we will be able to fix the exact figure when we get access to this infrastructure,” Deputy Infrastructure Minister Yuriy said. Vaskov during a briefing at the Ukrainian Media Center on Friday.
He noted that today the seaports of Mariupol, Berdyansk, Skadovsk and Kherson, which are located in the temporarily occupied territory, are closed.
“As for the ports of Pivdenny, Nikolaev, Odessa, Chornomorsk and Belgorod-Dnestrovsk, shipping from these ports is impossible from February 24, so they work exclusively with cargo and fleet, which, as of February 24, February was already under processing. This is 20% activity compared to peacetime,” the deputy minister said.
According to him, the Danube ports (Ust-Danubsky, Izmail and Reni) operate in the usual mode.

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