brookukraine

Thursday, July 30

Concorde Capital’s Evgeniya Akhtyrko writes: Concorde Capital’s Evgeniya Akhtyrko writes: “The larger financial community still sees high uncertainty related to the future trend of the hryvnia exchange rate…market players haven’t ruled out...

Last week, the National Bank of Ukraine sold $350 million to halt the slide of the hryvnia. Last week, the National Bank of Ukraine sold $350 million to halt the slide of the hryvnia. Today it trades at 27.7 to the dollar. Easing the demand for dollars and helping the hryvnia, most Ukrainian...

S&P upgraded yesterday the long-term credit rating of Ukrzaliznytsia to B- from CCC, reversing its downgrade of three months ago S&P upgraded yesterday the long-term credit rating of Ukrzaliznytsia to B- from CCC, reversing its downgrade of three months ago. Triggering the upgrade, Ukrainian Railways announced Monday that i...

Concorde Capital’s Concorde Capital’s Alexander Paraschiy: “Sberbank debt restructuring is probably the most important event for Ukrainian Railways in 2020. Sberbank’s loans accounted for half of the total debt th...

During the first half of this year, Ukraine surpassed the US to become the world’s 9th largest producer of pig iron, or crude iron, During the first half of this year, Ukraine surpassed the US to become the world’s 9th largest producer of pig iron, or crude iron, according to Worldsteel Association. Ukraine edged out the US becaus...

China’s hunger for Ukrainian iron helped Lemtrans boost cargo carried in the first half of this year by 26% yoy, China’s hunger for Ukrainian iron helped Lemtrans boost cargo carried in the first half of this year by 26% yoy, to 25 million tons. Lemtrans, Ukraine’s largest private operator of rail wagons, enjoye...

Revenue from Ukraine’s steel exports dropped by 17% in the first half of this year, Revenue from Ukraine’s steel exports dropped by 17% in the first half of this year, compared to the same January-June period last year. With revenues of $3.9 billion, metallurgical products accounted ...

US-based GE Steam Power has been selected by Ukraine’s AtomRemontServis to provide three years of maintenance for two of Ukraine’s four nuclear power plants, Rivne and Khmelnytsky. US-based GE Steam Power has been selected by Ukraine’s AtomRemontServis to provide three years of maintenance for two of Ukraine’s four nuclear power plants, Rivne and Khmelnytsky. “Through this new s...

The EBRD plans to lend Ukrposhta €53 million for a €102 million program to buy mobile post office vans for rural areas and to build automated sorting hubs for Kyiv, Lviv and Dnipro The EBRD plans to lend Ukrposhta €53 million for a €102 million program to buy mobile post office vans for rural areas and to build automated sorting hubs for Kyiv, Lviv and Dnipro. The European Inves...

Next year, the government plans to repair or rebuild 7,000 km of roads – two thirds more than this year Next year, the government plans to repair or rebuild 7,000 km of roads – two thirds more than this year, reports Alexander Kubrakov, head of Ukravtodor, the state highway agency. For comparison, the d...

Wednesday, July 29

Ukraine has grown to become the second largest supplier of organic food to the EU Ukraine has grown to become the second largest supplier of organic food to the EU, according to a new official report, ‘EU imports of organic agri-food products: key developments in 2019’. Ukraine is ...

UIA will offer three flights from Kyiv Boryspil to the US and back next week. UIA will offer three flights from Kyiv Boryspil to the US and back next week. On Monday and Friday morning, flights will leave Kyiv for New York’s JFK. The flights return to Kyiv the same day, taking ...

With half of the wheat threshed and three quarters of the barley harvested, Ukrainian farmers have harvested this summer 22 million tons of grain With half of the wheat threshed and three quarters of the barley harvested, Ukrainian farmers have harvested this summer 22 million tons of grain. This year’s harvest is expected to be 70 million tons...

Betting that EU travel restrictions will drop, Ryanair will start flights in October between Odesa and Athens and Barcelona. Betting that EU travel restrictions will drop, Ryanair will start flights in October between Odesa and Athens and Barcelona. With these flights, Ryanair will fly to 12 EU cities from Odesa. By March, ...

Kernel, Ukraine’s largest grain exporter, increased its grain exports by 30% yoy Kernel, Ukraine’s largest grain exporter, increased its grain exports by 30% yoy, to 7.9 million tons in the marketing year that ended in June. With this volume, Kernel handled 14% of Ukraine’s total ...

Two new airlines are being created in Ukraine: Bees Airline and Skhid-Zakhid (East-West), Two new airlines are being created in Ukraine: Bees Airline and Skhid-Zakhid (East-West), Evgeniy Khainatsky, the former SkyUp CEO, tells Turprofi, a Ukrainian tourism industry newssite. “After overco...

Kernel, Ukraine’s leading sunflower oil producer, increased its oilseeds processing by 9% yoy, to a record 3.4 million tons Kernel, Ukraine’s leading sunflower oil producer, increased its oilseeds processing by 9% yoy, to a record 3.4 million tons, the company reports. Oil sales fell by 6%, to 1.5 million tons.

Ukraine’s sunflower oil exports grew by 24% during the first half of this year Ukraine’s sunflower oil exports grew by 24% during the first half of this year, compared to January-June last year. The $2.7 billion in sunflower oil sales accounted for 27% of all food exports during...

Sunflower seeds were, once again, Ukraine’s most profitable crop Sunflower seeds were, once again, Ukraine’s most profitable crop, hitting 23.5% according to date from the State Statistics Service. In general, profitability was down across the board, reports Yuri L...

Irrigation of 500,000 hectares of farmland would boost national agricultural production by 8-10 million tons, estimates Igor Petrashko, Irrigation of 500,000 hectares of farmland would boost national agricultural production by 8-10 million tons, estimates Igor Petrashko, Minister of Economy, Trade and Agriculture. With Soviet-era irri...

With food Ukraine’s largest export, the government will recreate the Agriculture Ministry in September With food Ukraine’s largest export, the government will recreate the Agriculture Ministry in September, President Zelenskiy says. Last September, Zelenskiy moved to create an economic ‘super ministry’...

Potato Agro plans to build one of Ukraine’s first processing plants for French fries, Potato Agro plans to build one of Ukraine’s first processing plants for French fries, Konstantin Sarnatsky, company CEO, tells Potato News Today. The company markets its products under the brand Bestp...

The EU lockdown is crimping Ukraine’s once booming snail farming industry, reports AFP The EU lockdown is crimping Ukraine’s once booming snail farming industry, reports AFP. From 250 tons in 2018, Ukrainian snail farmers had expected to produce 1,000 tons this year, almost all for expo...

The ‘Green Tariff’ law is now on the desk of President Zelenskiy, awaiting his signature. The ‘Green Tariff’ law is now on the desk of President Zelenskiy, awaiting his signature. Yesterday, a procedural block was lifted and Rada Chairman Dmytro Razumkov signed the bill. The law would cut ...

Air travel will return to 2019 levels in 2024, Air travel will return to 2019 levels in 2024, predicts the International Air Transport Association. World air travel was down 86.5% yoy in June, an improvement over the 91% drop in May. IATA said the...

Ukraine’s number of air passengers this year will be one third the level of 2019 Ukraine’s number of air passengers this year will be one third the level of 2019, predicts Infrastructure Minister Vladyslav Krikliy, who oversees transportation. Although flight frequencies have been...

To revive tourism, Egypt is cancelling tourist visa fees for Ukrainians and is limiting its resort hotel occupancies to 50%. To revive tourism, Egypt is cancelling tourist visa fees for Ukrainians and is limiting its resort hotel occupancies to 50%. Last year, 1.7 million Ukrainians – about 5% of the nation’s population – v...

Starting Saturday, Chinese tourists will be able to enter Ukraine visa-free for one 30-day period every six months. Starting Saturday, Chinese tourists will be able to enter Ukraine visa-free for one 30-day period every six months. President Zelenskiy says the goal is “to develop friendly relations between Ukraine ...

The EU will remain closed to most travel from Ukraine through mid-August The EU will remain closed to most travel from Ukraine through mid-August, according to the latest update of ‘Green zone’ countries – those with high coronavirus infection rates. The EU updates the tra...

Tuesday, July 28

Ukrzaliznytsia is negotiating with GE Transportation a potentially $200 million deal to supply up to 40 diesel locomotives Ukrzaliznytsia is negotiating with GE Transportation a potentially $200 million deal to supply up to 40 diesel locomotives, Ivan Yuryk, acting CEO of the state railroad, tells NV Business. Last year, ...

Iron ore for China, grain, and gravel for road building got Ukrzaliznytsia through the April-May downturn Iron ore for China, grain, and gravel for road building got Ukrzaliznytsia through the April-May downturn, Yuryk tells NV Business in a separate story. “Export of iron ore to China is the only thing t...

UZ has restructured $200 million in debt that due to be paid on Friday to Sberbank (Ukraine). UZ has restructured $200 million in debt that due to be paid on Friday to Sberbank (Ukraine). In addition to stretching repayment of this debt over three years, “the company plans to further refinance...

During the first half of this year, freight carriage was down 16% over the same January-June period of last year During the first half of this year, freight carriage was down 16% over the same January-June period of last year, reports the State Statistics Service. The fall to 275 million tons breaks down as foll...

At the seaports, port operators increased tonnage by 10%, to 79 million tons At the seaports, port operators increased tonnage by 10%, to 79 million tons. Exports were up 9%, import were up 13%, and transit was up 13%.

Of the ports, Odesa Region’s Pivdenniy increased its lead as the nation’s busiest sea port, handling almost 40% of Ukraine’s seaborne trade Of the ports, Odesa Region’s Pivdenniy increased its lead as the nation’s busiest sea port, handling almost 40% of Ukraine’s seaborne trade during the first half of this year. Pivdenniy’s increased it...

Ukraine’s exports of grains, legumes and flour increased by 13.5% in the recently completed marketing year Ukraine’s exports of grains, legumes and flour increased by 13.5% in the recently completed marketing year, compared to the same July-June period last year. The exports of 57.2 million tons are a reco...

During the first half of this year, Asian countries increased their purchases of food from Ukraine by 14.5%, to almost $5 billion. During the first half of this year, Asian countries increased their purchases of food from Ukraine by 14.5%, to almost $5 billion. This is almost half of Ukraine’s food exports, calculates the Institu...

Ukraine can help feed China Ukraine can help feed China, Olha Stefanishyna, deputy Prime Minister for European and Euro-Atlantic Integration, told China’s new Ambassador Fax Xianrong in Kyiv on Friday. She said: “We are ready to...

China has opened its market to Ukrainian blueberries China has opened its market to Ukrainian blueberries, fresh and frozen, reports Ukraine’s Service for Food Safety and Consumer Protection. Ten Ukrainian berry producers have already registered for exp...

A new China-Kyiv container train – passing through Mongolia and Russia – will become weekly, A new China-Kyiv container train – passing through Mongolia and Russia – will become weekly, reports Gudok 1520, a Moscow-based railroad news site. Alexander Polishchuk, director of Kyiv’s left bank f...

An emergency session of the Rada will be needed in August to overturn one deputy’s move last week to block the ‘green tariff’ bill. An emergency session of the Rada will be needed in August to overturn one deputy’s move last week to block the ‘green tariff’ bill. With bill now in limbo, acting Energy Minister Olha Buslavets told r...

As Ukrenergo’s Guaranteed Buyer, or GarPok, heads toward bankruptcy, the agency owes $628 million to solar and wind energy producers. As Ukrenergo’s Guaranteed Buyer, or GarPok, heads toward bankruptcy, the agency owes $628 million to solar and wind energy producers. With some debts dating back to February, the power purchasing agen...

Betting on the return of air travel, Ukraine’s Betting on the return of air travel, Ukraine’s SkyUp Airlines plans to receive two Boeing 737s by the end of this year, Dmitry Seroukhov, acting CEO, tells the Center for Transportation Strategies. By...

UIA currently uses eight of the 29 aircraft it has based at Boryspil UIA currently uses eight of the 29 aircraft it has based at Boryspil, Sergei Fomenko, the airline’s vice president for commercial activities, tells the Center for Transportation Strategies. Depending ...

Three districts of Kyiv lost power yesterday evening for several hours due to a fire at the Kyiv’s Combined Heat and Power Plant №5. Three districts of Kyiv lost power yesterday evening for several hours due to a fire at the Kyiv’s Combined Heat and Power Plant №5. Traffic lights went out, trolleybuses stopped working, two Metro st...

Monday, July 27

French shipbuilder Ocea has signed a €136.5 million contract with Ukraine’s Border Guard Service to provide 20 fast patrol boats by 2023. French shipbuilder Ocea has signed a €136.5 million contract with Ukraine’s Border Guard Service to provide 20 fast patrol boats by 2023. Fifteen of the 32-meter boats will be built at Ocea’s Atlantic...

The international joint venture highlights Nibulon’s emergence as Ukraine’s most modern shipbuilder. The international joint venture highlights Nibulon’s emergence as Ukraine’s most modern shipbuilder. Oleksiy Vadaturskyi, Nibulon’s general director, said at the signing ceremony: “We are reviving the...

The EBRD is loaning Nibulon $27 million to maintain river cargo development projects and grain trading The EBRD is loaning Nibulon $27 million to maintain river cargo development projects and grain trading at a time of cash flow squeeze during the economic downturn caused by coronavirus. The financing ...

Nibulon launched its second harbor pusher tug last week, part of plan to build four over two years. Nibulon launched its second harbor pusher tug last week, part of plan to build four over two years. Equipped with powerful Scania engines, the 80-ton tugs are used for mooring and pushing 3,000 dead w...

Nibulon aims to transport up to 5 million tons of river cargo this year, a 30% increase over the last July-June marketing year Nibulon aims to transport up to 5 million tons of river cargo this year, a 30% increase over the last July-June marketing year. During the year that ended in June, Nibulon carried 3.8 million tons, up...