Ukrainian Danube Shipping Company to honor obligations to farmers - deputy CEO

MOSCOW. Aug 11 (Interfax) - The complicated situation on the transportation market will not affect the Ukrainian Danube Shipping Company's (UDP) long-term contracts signed in 2023, Ukrainian media quoted Vladislav Belakh, the company's deputy CEO, as saying.

"Some foreign transport operators have limited their fleets' operations at Ukrainian Danube ports, and freight rates are continuing to grow. We have warned about this risk since last year. We suggested that farmers and traders should not rely solely on marine fleet. We told them to hedge risks, conclude long-term contracts also for river transportation, and fix terms and conditions while freight rates were the lowest. Those who heard us have the opportunity to export products today. The UDP is fully honoring its obligations, this is our principled position," the UDP quoted Belakh as saying at an online meeting with the company's business partners.

The UDP will keep pursuing an open and transparent policy and attach priority to long-term market-based contracts, he said.

"Long-term contracts directly with cargo owners minimize downtime and help us plan our operations, maintenance programs, and investments," Belakh said.