“Kernel” acquired terminals in Reni and Chornomorsk

By the end of December 2023, Agroholding “Kernel” plans to complete the agreement on the acquisition of 100% of the shares of “Reni-Oil” LLC. Also in 2023, the company acquired assets in the port of Chornomorsk.

This is stated in the company’s latest report, Latifundist writes. In particular, in the port of Reni, the sunflower oil transshipment terminal is designed for simultaneous storage of 15,000 tons. The acquisition of the asset cost the company $24.75 million.

  “This is the only terminal among the Danube ports with adequate reception, storage and unloading capacities, which allows the export of sunflower oil even in case of blockade of the Black Sea ports. The deal is expected to be completed by December 31, 2023,” the statement said.

Also, in 2023, the company acquired assets for transshipment of vegetable oils in the port of Chornomorsk for $19.4 million.

“Simultaneous storage of 105,000 tons of sunflower oil will allow the Group not to stop processing plants during transportation disruptions, as was the case in fiscal years 2022-2023, and smooth out logistics,” the report says.

If the Black Sea ports are unblocked, the assets will be used as a major deep-sea transshipment base for the export of sunflower oil.