Project description
and objectives:
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The proposed project aims to (i) finance Ukrrichflot’s acquisition of four dry
cargo newbuilding vessels as part of the company’s fleet renewal programme and
(ii) to replace the EBRD’s existing facilities to the company.
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Transition impact:
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The project will facilitate Ukrainian exports and inter-regional trade, and
facilitate the restructuring and modernisation of the Company’s fleet.
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The client:
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Ukrrichflot Joint Stock Shipping Company is the largest ship operator in
Ukraine. Its principal business is domestic and international transportation
of small to medium sized dry bulk cargoes on river, river-sea and short sea
routes. In addition, the Company operates its own passenger fleet and owns its
own river port facilities in Ukraine.
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EBRD finance:
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1. A senior loan of up to US$ 31.26 million, to be structured as an A/B loan.
2. In addition, the EBRD will issue a guarantee of US$ 8 million in favour of
the shipyard for Ukrrichflot’s equity contribution towards the contract price
of the four newbuilding vessels.
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Total project cost:
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US$ 39.3 million
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Environmental impact:
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Screened B/1. Environmental issues relate to the four new vessels and to
existing collateral vessels (19 in total). The main issue related to the
purchase of the new vessels is compliance with international standards for
safety and for environmental performance (emissions to air, wastewater and
waste disposal). Vessels must obtain the relevant national and international
certificates prior to operation. Issues related to the existing collateral
vessels include engine emissions; waste disposal; oil spill containment and
preparedness; inspection programmes; health and safety etc. The Environmental
Analysis will focus on a review of all relevant national and international
certificates for the new vessels. The Environmental Audit will be carried out
on the new collateral vessels in conjunction with the technical due diligence
to assess the environmental and health and safety risks associated with the
vessels. The annual environmental, health and safety reports on the existing
collateral vessels are satisfactory, no further environmental due diligence
need to be conducted on these vessels.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Write to:
JSSC Ukrrichflot
51 Nizhniy Val, Kyiv, 254071,
Ukraine
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EBRD contact:
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Igor Storchak, Operation Leader: storchai@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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