The Nibulon company’s exports reduced by 88% in the period from March to August 2022 because it can no longer use the regular routes through the port of Mykolaiv.
The company’s head Andrii Vadaturskyi announced this, the CFTS portal reports, citing the Latifundist publication.
"Our exports fell by 88% from March to August because we could no longer use the usual routes through the Mykolaiv seaport. We also have assets worth up to USD 82 million trapped in the temporarily occupied territories. In addition, over 40% of our workers are currently unable to work because of the war," he said.
According to Vadaturskyi, Nibulon has rerouted some of its exports by rail and road, it is also using river transport, and it is currently building a new river terminal on River Danube to prevent future disruptions.
"However, overland routes are much more expensive and logistics costs have already increased 10-40 times on average, depending on the route. Exports through Poland and Romania have also been particularly slow because of red tape at the border," he said.
The head of the company believes that Western governments and creditors should increase financing opportunities and ensure flexibility during debt repayment. He also said that the humanitarian maritime corridor (established by the Black Sea Grain Initiative to allow ships to export grain and other foodstuffs from Ukraine) should be expanded to the Mykolaiv seaport, which accounted for 30% of Ukraine’s exports before the war.
