Port of Odessa signed a memorandum on cooperation with P&O Maritime

Port of Odessa

On 22 July Odessa commercial seaport signed a memorandum on cooperation with P&O Maritime. P&O Maritime intends to develop a model of improvement of maneuvering system in the port of Odessa. Signing of the document took place in the presence of Vladimir Omelyan the minister of infrastructure of Ukraine.

The parties agreed to consider the possibility of investment into a port industry of Ukraine and implementation of the best world practices by the P&O Maritime company on port assets management. First of all P&O Maritime intends to invest in towing fleet. The memorandum will allow P&O Maritime to estimate potential and to develop a model of port fleet maneuvering system improvement in the port of Odessa.

P&O Maritime is an affiliated undertaking of DP World. DP World belongs to the government of the United Arab Emirates. It owns 77 port terminals and logistic hubs in 40 countries. Revenue in 2015 was about $4 billion, net profit – $970 million.

Vladimir Omelyan informed earlier that DP World considers the possibility of investment into development of the Odessa seaport.

“I would like to bring negotiations with China Shipping and DP World to a successful completion. We have begun to discuss preliminary opportunities with Hutchison Port Holdings Ltd. There is a clear understanding of the fact that the logistics in the ports of Ukraine does not meet modern requirements. Many ports should be reconstructed”, Omelyan told . He didn’t report details of negotiations.

The minister added that Ukraine will try to become a transit hub for cargoes from Gulf States, Asia and China to the Nordic Countries and Baltics.