“The Black Sea port is being prepared for transfer to a concession. The project has already been called the largest infrastructural project in the history of independence. But is he really like that?”, — write: www.pravda.com.ua
Concession is a contract under which the state transfers to a private company the right to manage state property for the purpose of investment, modernization or development, without transferring ownership.
The issue of the concession of the first and container terminals of SE “Sea Trade Port Chornomorsk” became widely publicized. Presented as the largest investment project in the port sector in the entire history of independence, it raises both expectations and numerous questions.
In April 2025 on international conference in Warsaw The Ministry of Community Development, Territories and Infrastructure presented the concession project covering two terminals – container and universal. Their declared processing capacity is up to 760 thousand TEU (twenty-foot equivalent) and more than 5 million tons of cargo every year.
In the report of the First Deputy Minister of Community and Territorial Development, Olena Shkrum, it was emphasized that the project complements the “Ukrainian Transport Corridor” and should increase the efficiency of customs and trust in Ukraine. Later, in Augustthe numbers decreased to 500,000 TEU.
We will remind: in 2024, Ukrainian ports handled 129,000 TEU, despite the fact that their total capacity is more than 3.5 million TEU, that is, loading is less than 4%. For comparison, in 2021 the container traffic was 1.022 million TEU. In this context, the promise of an additional 500,000 TEU looks overly optimistic, if not speculative.
What is a terminal According to the official presentation IFC and the Ministry of Infrastructurethe concession object has: 19 hectares of the main territory, 14 hectares of open warehouses, 6 berths with depths of 11.5–14 m, processing capacity – up to 180 wagons per day and storage – up to 500 thousand tons of cargo.
The preparation of the project continues since 2020. In 2021, memoranda were signed with the EBRD and IFC. Due to the war, the process stopped, but it was resumed in May 2023. The feasibility study was expected to be completed by the end of 2023, but a full public version has not yet been found.
In accordance with financial statements SE Chornomorsk for the year 2024, the company demonstrates profitability: revenue – 1.9 billion UAH, net profit – 760 million UAH, assets – 2.5 billion UAH, number of employees – 1,131.
These figures raise the question: does a company really need to be put into administration if it is showing financial stability?
Which begs the question The first is this competition format. Initially, it was about an open competition. Later it was chosen competitive dialogue procedurewhich involves a dialogue with potential participants when the customer himself does not fully understand the parameters of the agreement. But is such uncertainty justified after two rounds of presentations with 20 and then 40 interested companies?
The second is scale of expectations. The declared volume of cargo flow (up to 500,000 TEU) significantly exceeds the current volumes of the entire country. Conditionally, even if Chornomorsk took over the entire existing container traffic, it would not reach this figure. Who and what will be transported in these containers?
The third is number of employees. In the news reports, there are 1,000 saved jobs, but according to the company’s reporting, the number of employees is already 1,131. How will this be achieved? Is it a reduction?
According to our information, less than 500 people work at the largest container terminal of Ukraine with a capacity of about 750 thousand TEU.
The fourth is the choice of the concession itself. Ukraine already has the experience of concessions – the ports of Olbia and Kherson. However, their effectiveness has not been publicly evaluated. IN port of Kherson catastrophic situation. The concessionaire requests a review of the agreement.
Fifth – communication. All statements about investments, benefits, potential are so far exclusively at the level of publications in social networks. No open financial model, feasibility study or investment plan. Transparency issues are rather systemic.
Alternatives Operational reform without a change of ownership. Perhaps, instead of a concession, the enterprise could attract a strategic partner in the form of operational management. This approach allows you to preserve state property and obtain expertise.
In Turkey, Portugal and Croatia, a similar model is successfully applied in the port sector.
Targeted investment program under guarantees. The state can act as a guarantor of the return of investments (through income from activities), but without transferring assets into management or ownership.
Public feasibility study and predictive model. Even if the concession is implemented, the basic financial model and cargo flow projection should be made public. This creates trust and allows the business to plan logistical interaction with the object.
Pilot partnership. Taking into account the risks, it is possible to consider the option of a pilot agreement for a limited period or for part of the assets – with clear KPIs and a mechanism for reviewing the conditions.
In times of war, any project that attracts international investment is a signal of confidence. But trust is not a slogan, but the result of clear procedures, transparent numbers and honest dialogue. Business does not expect perfection. But he expects predictability, logic and publicity. And whether he gets it now is an open question.
Let this project become the case that will have not only a beautiful presentation, but also real results – not in slides and promises, but in numbers, contracts, investments and cargo flows.
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