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DP World subsidiary inks Ukrainian deal

DP World subsidiary inks Ukrainian deal
DP World subsidiary P&O Maritime has inked an exclusive “memorandum of co-operation” to provide much needed port marine services expertise at Ukraine’s Odessa Sea Commercial Port.

Signed in the presence of Ukraine’s Minister of Infrastructure, Volodymyr Omelyan, the memorandum signals P&O Maritime’s intention to manage and invest into Ukrainian port assets, primarily in the towing fleet.

The parties have also agreed to explore investment opportunities in Ukrainian port industry beyond the Dubai-headquartered company’s goal to improve existing manoeuvring operations of the Odessa Port fleet and to identify efficiency opportunities.

Odessa Port is located in the north western corner of the Black Sea at the intersection of historical routes of East and West trade. It is regularly called by large cruise vessels up to 300 mtrs LOA and is capable of handling more than 25m tons of dry bulk and 25m tons of liquid cargo annually.

“We have signed a document confirming the readiness of Ukraine and the attractiveness of our assets to international investors,” said Omelyan after signing the agreement with Rado Antolovic, md of P&O Maritime.

“It is not a secret that Ukraine is in need to attract partners who are willing to invest and can implement an effective management system and maintain high social standards. DP World and its subsidiary P&O Maritime are definitely such partners.”

P&O Maritime provides marine services to governments and blue chip organisations globally. Launched in the 1960s as P&O Offshore Services to initially service the offshore energy industry in Australia and South-East Asia, P&O Maritime portfolio has expanded to include ownership and management of specialist vessels, offshore renewables, river barging, chartering, port services and logistics solutions.