Boston, MA -- (SBWire) -- 03/12/2013 --Ukraine's developing role in the global shipping sector is once again highlighted by the increasing interest from foreign firms seeking to gain a foothold in the country's port sector. The latest candidate wishing to gain entry is the US agricultural producer and marketer Cargill.
The company has signed a Letter of Intent with the Sea Commercial port of Illichivsk, which will enable Cargill to take part in the concession tender for territory next to berth 10 at the port. If Cargill's bid is successful, the company plans to construct a grain and oilseeds storage and handling complex with an annual capacity of up to 4.5mn tonnes per year.
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This offers obvious throughput benefits for the port of Illichivsk, but is not the first example we have noted of foreign firms investing and driving up throughput at the country's maritime facilitates. At the port of Odessa a unit of the German firm HHLA operates. HPC Ukraina has been credited with driving up box throughput at the facility and in 2013 is set to firmly place the port of Odessa on the container shipping map with the launch of its latest investment project, Quarantine Mole.
The new terminal will not only boost box capacity at the port, but with a draught of 16m will be able to handle the largest container vessels afloat, highlighting how foreign firms expertise and investment can ensure that a port remains on trend.
Headline Industry Data
- 2013 Port of Odessa tonnage throughput forecast to grow by 2.4%, over the mid-term we project a 17.4% increase.
- 2013 Port of Odessa container throughput forecast to increase by 3.3%, over the mid-term we project a 18.7% increase.
- 2013 total trade growth forecast at 3.6%.
Key Industry Trends
Dredging To Keep Pace With Bigger Ship Demand
The market trend for bigger ships is placing pressure on ports to dredge in order to be able to accommodate larger vessels. At the port of Illichivsk a dredging programme has enabled the port to set a new milestone in terms of container ship handling, with the 8,004TEU Maersk Teno now the largest box ship to have docked at the port, previously the 8,000TEU Tubal had been the biggest ship.
Cargill Interested In Grain Export Options At Illichivsk
The Ukrainian port of Illichivsk is set to increase its grain-handling facilities with the aid of Cargill, the international agricultural producer and marketer. The development highlights a trend we have been tracking in emerging markets of shippers becoming more involved in their supply chain to ensure their products reach market as quickly and cheaply as possible. BMI highlights that considerable investment is being ploughed into meeting Ukraine's grain export demand and that projects to expand the country's port's grainhandling facilities offers upside risk to our forecasts.
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