By KYIV. Dec 1 (Interfax-Ukraine) – In January-October 2022, the State Enterprise Izmail Sea Commercial Port (Odesa region) increased its net profit by 18 times compared to the same period in 2021, to UAH 380.9 million, and the volume of cargo transshipment by 1.5 times.
According to the website of the specialized association Ukrport, this growth was caused by the blockade of Ukrainian Black Sea ports by Russian troops, as a result of which the Danube ports remained the only completely free sea corridor between Ukraine and the EU.
Thus, a certain part of the cargo that was previously reloaded in the ports of Great Odesa (cereals, oil, petroleum products, containers, etc.) began to be reloaded at the Izmail seaport, due to which the port attracted new cargo flows. Due to the Russian invasion, the port lost its transit traffic, but significantly increased its transshipment on import and export routes.
According to Ukrport, in 2022 the Izmail seaport doubled the average monthly salary of its employees and almost quadrupled payments to the state. Also, from the first days of Russian military aggression, the activity of the enterprise has been focused on meeting the needs of the Armed Forces of Ukraine, ensuring the national economy under martial law, as well as the livelihoods of the population.
"The main problematic issue that needs to be addressed remains the standard for deducting a portion of net profit in the amount of 80%. The main direction of the funds that remain at the disposal of the enterprise is the implementation of capital investments. Reducing the amount of deductions to 70% would allow the company to accumulate funds for a more efficient renewal of the fleet of portal cranes and the tug fleet," the association summed up.
Izmail Sea Commercial Port is a multi-profile commercial port for transshipment of iron ore, coal, coke, ferrous and non-ferrous metals, paper, cellulose, fertilizers, saw timber, and general cargo. The port’s capacities allow handling up to 8.5 million tonnes of cargo per year. The total area of the port is 107.5 hectares.
