Kernel sold its bulk carrier and plans to exit the shipping business

Kernel sold the bulk carrier “Rotterdam Pearl V”, acquired in 2023, and announced a reorientation to a more flexible maritime logistics model.

As the company told USM, the Rotterdam Pearl V with a carrying capacity of 55 thousand tons was acquired in December 2023 against the backdrop of a tonnage deficit and high freight rates.

The company notes that its own fleet was part of the anti-crisis strategy in 2023-2024 and allowed it to ensure stable exports of products during a period of limited access to vessels.

After stabilizing the operation of the grain corridor and increasing the amount of available tonnage on the market, the company decided to adjust its approach to maritime logistics and focus on core operational processes.

“We entered shipping when freight rates were at their peak and access to vessels was limited. Our own fleet fulfilled its mission: we gained control over the export chain and deep market expertise. Today the situation has changed and we are adapting to remain effective,” said Kernel Logistics Director Mykola Miroshnychenko.

Currently, the company’s fleet consists only of the 13.5 thousand ton “MAVKA” tanker, which is used to transport vegetable oil. It should be noted that the sale of the “Rotterdam Pearl V” may indicate Kernel’s gradual exit from the segment of its own shipping in favour of using the freight market.

Earlier, Russian drones damaged the Kernel terminal in the port of Chornomorsk.