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Hutchison Ports signs initial pact to develop Chernomorsk port, Ukraine
HONG Kong's Hutchison Ports is to establish a presence in the Black Sea region, after signing a preliminary agreement with the Ukrainian government to invest in and develop the 1.2 million TEU capacity Chernomorsk port for the next 49 years.
Chernomorsk is one of the biggest Ukrainian ports as measured by annual container capacity, however, it struggled to attract sufficient cargo volumes between 2008 when the port handled 670,556 TEU and 2016 when throughput totalled only 18,163 TEU.
According to Ukrainian Minister of Infrastructure Vladimir Omelyan, Hutchison has been interested in expanding into Ukraine since 2007, reported IHS Media.
Chernomorsk chiefly handles grain, coal, ore, and general cargoes, while Odessa handles most of Ukraine's containerised trade, but government officials hope that the involvement of Hutchison will attract more container traffic to the port.
Containers account for 15 per cent of the cargo mix at Chernomorsk which has a six kilometre quay and 14 metre draft that enables it to handle three containerships of at least 5,000 TEU simultaneously.
Ukraine's Ministry of Infrastructure believes that Chernomorsk will have a good chance to compete with Russian ports on the Black Sea for cargo destined for parts of Europe and Russia, but the port's competitive success will hinge on its ability to attract regular services.
Shipping from Shanghai through Chernomorsk would be more expensive than St Petersburg, according to figures from Russian transport analyst Credo Trans. However, depending on the destination, particularly if it is to Baltic states, shippers would benefit from shorter transit times.
The rate from Shanghai to St Petersburg is between US$1,400 and $2,100 per TEU and from $2,535 to $2,700 per FEU, according to Credo Trans In comparison, the rate from Chernomorsk would be $1,860 to $2,100 per TEU and $2,535 to $2,700 per FEU.
The sailing time from China to St Petersburg is 35 to 40 days, and the transit time to Novorossiysk, on the other side of the Black Sea from Chernomorsk, is 23 to 27 days.
Chernomorsk is one of the biggest Ukrainian ports as measured by annual container capacity, however, it struggled to attract sufficient cargo volumes between 2008 when the port handled 670,556 TEU and 2016 when throughput totalled only 18,163 TEU.
According to Ukrainian Minister of Infrastructure Vladimir Omelyan, Hutchison has been interested in expanding into Ukraine since 2007, reported IHS Media.
Chernomorsk chiefly handles grain, coal, ore, and general cargoes, while Odessa handles most of Ukraine's containerised trade, but government officials hope that the involvement of Hutchison will attract more container traffic to the port.
Containers account for 15 per cent of the cargo mix at Chernomorsk which has a six kilometre quay and 14 metre draft that enables it to handle three containerships of at least 5,000 TEU simultaneously.
Ukraine's Ministry of Infrastructure believes that Chernomorsk will have a good chance to compete with Russian ports on the Black Sea for cargo destined for parts of Europe and Russia, but the port's competitive success will hinge on its ability to attract regular services.
Shipping from Shanghai through Chernomorsk would be more expensive than St Petersburg, according to figures from Russian transport analyst Credo Trans. However, depending on the destination, particularly if it is to Baltic states, shippers would benefit from shorter transit times.
The rate from Shanghai to St Petersburg is between US$1,400 and $2,100 per TEU and from $2,535 to $2,700 per FEU, according to Credo Trans In comparison, the rate from Chernomorsk would be $1,860 to $2,100 per TEU and $2,535 to $2,700 per FEU.
The sailing time from China to St Petersburg is 35 to 40 days, and the transit time to Novorossiysk, on the other side of the Black Sea from Chernomorsk, is 23 to 27 days.
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