UDS expects to make a net profit of UAH 39 million after being unprofitable

The Ukrainian Danube Shipping Company also counts on the government’s support and decision-making regarding competitive conditions.

This was stated by the General Director of PJSC “Ukrainian Danube Shipping Company” Ihor Chertov in an interview with Ukrinform.

When asked whether the company considers state support as a critical factor, he replied that the UDP expects extremely important decisions from the Government regarding the creation of competitive conditions.

“This is a reduction in railway tariffs for cargo in the Izmail-Reni direction, changing the status of these ports from sea to river, providing benefits for vessels under the Ukrainian flag. These are not gifts, but investments in its own economy. If such steps are adopted, the Danube direction will get a chance for a new life,” Ihor Chertov emphasized.

In particular, the UDP is expected to end 2025 with a positive balance.

“We expect a net profit of UAH 39 million at the end of the year – the first time after two years of loss-making. This will be a symbolic signal: PrJSC “UDS” is able not only to survive, but also to develop. I am sure that we have all the prerequisites to continue to remain one of the key players in the Danube transportation market, ensuring stable growth and maintaining partnership relations with cargo owners,” the head of the company added.

Currently, UDP is facing such challenges as war, seasonal features – periods of shallow water, as well as the certification of captains: the validity of diplomas expires, and they lose the right to manage ships.

“In addition, the destruction and damage to the shipping infrastructure was a very painful blow. The shelling of the Kiliya Ship Repair Plant caused enormous losses – both financial and technical. Repair capacities decreased, and this immediately reduced transportation capabilities. Ordinary air alarms also entail losses: due to delays in cargo processing in ports, in particular Ukrainian ones, fleet maintenance costs increase, because it is idle. However, even in these conditions, we are thinking about the future – we are working on restoring the damaged main office building, we are planning to implement an information and computer management system – to increase the levels of protection of shipping information systems and digitalization, automation of production processes,” Igor Chertov shared his plans.

Read also: UDS plans to increase river transportation to over 3 million tons per year.