Despite the crisis, UDS is gradually resuming profitable activities

The UDS team held a meeting with the Minister of Infrastructure regarding the Danube river transport market.

The results of work over the past two years were discussed with the new head of the Ministry of Infrastructure, Oleksiy Kuleba, the Ukrainian Danube Shipping Company reported.

Also, the focus remains on the Danube river transportation market.

“The team managed to return the company’s assets, get rid of huge debts, restore the fleet, and start modernization. The enterprise works transparently, modern control and monitoring systems have been implemented.

The independent assessment indicates a high level of capitalization of the company,” the UDS noted.

Also, despite the collapse of the river transportation market, steam shipping is gradually resuming profitable activity.

“In our opinion, the future of UDS, as a national carrier, is connected with international standards of corporate governance (supervisory board) and the involvement of a strategic partner in the form of the World Bank group. However, the priorities and vector of further actions are determined by the shareholder,” the company emphasized.

The UDS concluded that strategic decisions are needed to get out of the crisis, and the ministry’s position on this issue is decisive.

We will remind you that the statistics of the Danube Commission indicate a steady decline in cargo handling by Danube ports. The crisis is associated with low freight rates, as well as a reduction in transportation volumes.