Kernel acquired a third cargo ship

The agro-industrial company “Kernel” expanded its cargo fleet to three vessels by purchasing a 50,000-ton bulk carrier.

Information about the ship became known from the company’s report for the first half of the 2024 fiscal year (July – December 2023). It also states that the company purchased the vessel last December.

“Becoming the third vessel in Kernel’s fleet, the bulk carrier is a significant addition to the expansion of the group’s transport and logistics capabilities,” the document states.

As a reminder, in 2023, Kernel also became the owner of the Eneida bulker with a carrying capacity of 44,000 tons of grain and the “Mavka” tanker with a carrying capacity of 12,500 tons of sunflower oil. Both vessels were planned to be involved in cargo transportation in the Black Sea region. Subsequently, the company announced the expansion of its own fleet.

In addition, in December 2023, the group completed the acquisition of Reni-Oil LLC, a sunflower oil transshipment terminal with a one-time storage capacity of 15,000 tons in the Reni seaport. The amount of the deal was $24.75 million.

In July 2023, the company purchased for $19.4 million storage capacity for transshipment of vegetable oils in the Chornomorsk seaport and restored the functionality of this asset by the end of last year. The renovated facility received the first vessel in January 2024.

We previously reported that Kernel’s minoritary shareholders filed two lawsuits against the company. Later it became known that the exit of the agrarian holding Kernel from the Warsaw Stock Exchange was suspended due to a lawsuit by minoritaries.