: :inin Kyiv (EET)

Ukraine needs to return its tankers from Caspian to Black Sea to privatize shipping companies – Ukraine`s State Property Fund

State-owned Black Sea Shipping Company (BSSC) and Ukrtanker are not subject to privatization, head of Odesa branch of Ukraine`s State Property Fund (SPF) Oleksiy Kosmin said at an Odesa press conference February 22, according to an UNIAN news agency news agency correspondent.

”The government has decided to search for additional assets of the enterprise [BSSC]. In the near future, the envoys of the Infrastructure Ministry and the Security Service of Ukraine will go to Vietnam to resolve the issue on BSSC`s share in the local sea port`s dock. In addition, a building in Barcelona (Spain) turned out to be owned by the shipping company,” Kosmin said.

When asked about the possible privatization of another shipping company, Ukrtanker (the SPF received such a proposal from the Infrastructure Ministry), Kosmin said that Ukrtanker has two tanker vessels, both in the Caspian Sea.

”One has sunk and been resting on the seabed for a long time ever since, accumulating huge debts. The captain of the second one is afraid to check in Russian ports as the vessel may be arrested for the debts of the sunken tanker. Therefore, it has been roaming somewhere between Iran, Kazakhstan, and Turkmenistan. Some Dagestani company operates it,” Kosmin said.

In his words, the profile ministry acknowledges the need to sell the company but ”they should fond a way to return these tankers to the Black Sea.”

Kosmin also noted that this year the State Property Fund would put up for privatization a number of companies under the Infrastructure Ministry.

Earlier, the State Property Fund decided to privatize the Black Sea Shipping Company. As of September 30, 2016, the initial value of the company`s fixed assets amounted to $180.5 million, while the residual one was $83.2 million, according to the SPF`s newspaper Vidomosti Pryvatizatsiyi.

UNIAN news agency news agency memo. The Black Sea Shipping Company was established on May 16, 1833. In 1991, the company had 350 vessels in its major fleet and over 1,000 support vessels. Before the collapse of the USSR, the company`s revenue reached $1 billion per year. However, in 1993, its debts exceeded $200 million. The same year Blasko Concern was established, which took over ownership of the BSSC`s vessels. Most of them have been sold.

Now Ukrtanker owns two tanker vessels, namely Victor Kibenok (1998) and Vladimir Pravik (1987). It is also used by UNI-TANKER under bareboat charter. The vessel does not perform commercial sailing.


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