Black Sea Shipping Management Co. Ltd

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 36609

Status Complete

Location

Ukraine

Business Sector

Transport

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 36609

Status Complete

Location

Ukraine

Business Sector

Transport

Notice Type

Private

Environmental Category

Approval Date

16 May 2006

Disclosure date

13 Apr 2006

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The proposed project provides a post-delivery term loan to finance part of the acquisition/construction costs of 5 dry cargo newbuildings of about 5,500 dwt, which are being built in Kherson shipyard, Ukraine. This Project is part of the Company’s fleet renewal programme. The Project vessels will be employed in the short-sea trade encompassing the Sea of Azov, the Black Sea and the Mediterranean.

Transition Impact

The Bank’s involvement in the project will help to facilitate the modernisation and development of the company, which has committed to improve its shipping management practices to bring its operation in line with international best practice. The Project is also expected to enhance safety and environmental standards of the fleet, as well as promoting competition through fleet renewal among other local ship-owners operating in this sector. The Bank’s financing will also help to facilitate regional trade which relies principally on shipping as a means of transportation.

The Client

The loan will be advanced to 5 special purpose offshore ship-owning companies 100% owned by a ship-holding company – all to be registered in a jurisdiction acceptable to the Bank; and controlled by Black Sea Shipping Management Company, a dry cargo shipping company based on Odessa.

EBRD Finance

A senior loan of up to USD 20 million, to be structured as an A/B loan.

Project Cost

USD 34 million.

Environmental Impact

The project was screened C/1. The company will demonstrate to the Bank pre-acquisition safety and environmental compliance of the project vessels, with international maritime safety standards and regulations. As new ships are delivered, the company will sell/scrap the old vessels. It will also establish the relevant on-shore environmental health and safety procedures and emergency response plans.

Technical Cooperation

None.

Company Contact

Black Sea Shipping Management Company
Office 39,
23 Armiyska Street,
Odessa,
65063, Ukraine

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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Tel: +44 20 7338 7168
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Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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