Ukrainian Danube Shipping Company estimated cost of fleet modernization at €50 million
The Ukrainian Danube Shipping Company believes that it may take €50 million to modernize the fleet.
The Ukrainian Danube Shipping Company (UDP) estimates the amount of investments required to modernize the fleet in the next 2-3 years at €50 million. This was reportes by Chief Engineer of the Ukrainian Danube Shipping Company, Oleg Mudrachenko, at a meeting with Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stephanishina.
For these funds, the company plans to renovate 25-30 tugs. Ukrainian Danube Shipping Company intends to receive money with the help of investments from the state or a loan in European banks with the attraction of institutional financing from international financial organizations.
At the moment, the main part of the company’s fleet is worn out by more than 90%, and the average age of tugs is at least 50 years. Since the construction of the vessels, they have not undergone modernization or renovation. Therefore, most of the time, the company’s fleet is under repair or stalled due to unsuitable technical condition.