Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

18 Oct 2006



PSD disclosed:

11 Aug 2006

Project Description

The proposed project provides a long-term term loan to finance part of the acquisition/construction costs of 5 dry cargo newbuildings of about 5,000 dwt. The proposed project is part of the company’s fleet expansion programme.

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 proposed 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 Client

Joint Stock Company Yugreftransflot is a Sevastopol-based ship owner whose primary activities are:

  • transportation of refrigerated cargos: deep frozen meat, poultry and fish , perishable goods (fruits and vegetables), general cargos and containers;
  • fleet commercial & technical management: reefer vessels, ocean-going fishing trawlers, dry cargo vessels, and tankers;
  • commercial fishing and processing of fish products.

EBRD Finance

A senior loan of up to USD 26 million, to be structured as an A/B loan.

Project Cost

USD 57 million.

Environmental Impact

The project was screened C/1.

Yugreftransflot will need to demonstrate to the Bank pre-acquisition safety and environmental compliance of the Project Vessels, with international maritime safety standards and conventions. The Bank will seek agreement with Yugreftransflot and covenant in the loan agreement of establishing relevant on-shore environmental health and safety and environmental procedures and emergency response plan.

Technical Cooperation


Company Contact

Write to:

JSC Yugreftransflot
5 Rybakov Street
Sevastopol, 99014


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

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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