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The agricultural holding Nibulon has incurred $500 million in losses since the start of the full-scale war

The agricultural holding Nibulon has incurred $500 million in losses since the start of the full-scale war
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The French Ambassador to Ukraine, Gaël Veyssière, visited the facilities of Nibulon in Mykolaiv, where he met with Mykhailo Rizak, the company’s Director of Government Relations. During the meeting, they discussed key challenges faced by Ukraine’s agricultural sector and strategies for ensuring global food security.

 

 

Mykhailo Rizak highlighted the difficult situation caused by the closure of Mykolaiv’s seaport hub, the halt of the shipbuilding industry, and the suspension of navigation along the E-40 river routes (Dnipro and Southern Bug) following the full-scale invasion by Russia. According to him, the company has suffered losses exceeding $500 million.

The port facilities in Mykolaiv are ready to resume operations as soon as a political decision is made to reopen them. This would enhance competition in cargo handling and reduce export logistics costs. Over 100 vessels remain blocked in the Mykolaiv port hub, including 30 international maritime vessels and 70 inland waterway ships.

Evacuated vessels, previously used for transport, are currently idle and seeking new routes globally, particularly along the Danube River.

"The development of alternative export routes is no longer a choice but an urgent necessity for global food security. The Danube ports are now strategic for Ukraine’s economic security, and we must do everything possible to maintain their competitiveness," stated Mykhailo Rizak.

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