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PRESENTATION OF NIBULON’S RESEARCHES REGARDING THE CONSEQUENCES OF THE DRAFT LAWS NO. 2475A, 2476A, 2713, AND 2712 2

DUES, TAXES AND FEES BASED ON A CALL BY A VESSEL THROUGH THE WATERWAY FROM TRUTAIEV SANDBANK TO KREMENCHUK Barge plus tug flying the Ukrainian flag Volgo-Don vessel flying the Ukrainian flag Foreign-going Volgo-Don vessel flying (a pusher tug plus 2 barges) (coastal shipping), (coastal shipping), 3 500 tons of cargo foreign flag, 3 500 tons of cargo 5 600 tons of cargo In accordance with In accordance In accordance In accordance with the draft In accordance with the draft In accordance with the the current with the current with the current law No. 2475a law No. 2475a draft law No. 2475a legislation legislation legislation Canal dues $ 0,00 $ 0,00 $ 0,00 $ 0,00 $ 1 851,36 $ 0,00 Tonnage dues $ 83,55 $ 0,00 $ 62,86 $ 0,00 $ 1 595,00 $ 0,00 Administration dues $ 41,77 $ 0,00 $ 31,43 $ 0,00 $ 314,37 $ 261,00 Light dues $ 87,35 $ 0,00 $ 65,71 $ 0,00 $ 548,00 $ 0,00 Sanitary dues $ 41,77 $ 0,00 $ 31,43 $ 0,00 $ 314,37 $ 0,00 Anchorage dues $ 0,00 $ 0,00 $ 0,00 $ 0,00 $ 0,00 $ 0,00 Locking services* $ 435,50 $ 0,00 $ 456,00 $ 0,00 $ 1 365,00 $ 0,00 Pilotage $ 0,00 $ 0,00 $ 0,00 $ 0,00 $ 6 602,00 $ 6 602,00 VTMS (vessel traffic $ 121,52 $ 121,52 $ 91,20 $ 91,20 $ 128,60 $ 257,00 management system) River due $ 0,00 $ 694,66 $ 0,00 $ 434,16 $ 0,00 $ 1 302,49 Total $ 811,47 $ 816,18 $ 738,63 $ 525,36 $ 12 718,70 $ 8 475,86 Excise tax* $ 2 300,00 $ 2 300,00 $ 2 300,00 $ 2 300,00 $ 0,00 $ 0,00 Total per 1 ton $ 0,5556 $ 0,5565 $ 0,8682 $ 0,8072 $ 3,63 $ 2,4217 *at the Ukrainian National Bank exchange rate as of October 26, 2016 In case of adoption of the draft law No. 2475a, vessels flying foreign flags and performing cargo trips by inland waterways, paying the river due, will be exempted from canal, tonnage, light, sanitary, and anchorage dues. The vessels will be exempted from compulsory pilotage if the captains have valid certificate enabling one to sail along the inland waterways of without pilotage. Given the above mentioned, vessels flying foreign flags will be able to use inland waterways of Ukraine on an equal footing with the vessels flying the Ukrainian flag. However, foreign vessels will be able to bunker behind the 12-mile zone and will not pay fuel excise tax. As a result, they will have an advantage over the vessels flying the Ukrainian flag, and the state budget will receive less funds. If the average fuel consumption comprises 36 tons per cargo trip and the total freight traffic is 10 million tons, the state will not receive about EUR 9 600 000 per year or EUR 0.96 per ton of cargo transported by rivers. Thereby there will be no source to form revenues of the budget to revive and maintain the inland waterways. Thus, introduction of the draft law No. 2475а will lead to: 1) shortfall in excise tax by the state (EUR 9 600 00); 2) unequal competitive conditions for vessels flying the Ukrainian flag, as vessels flying foreign flags will be able to bunker behind the 12-mile zone and spare up to USD 50 per ton of the fuel cost or USD 0.5 per ton during cargo transportation. This is a significant advantage for foreign shipowners over the domestic ones. 3

CALCULATION OF COSTS FOR COASTAL TRIP BY THE ROUTE TRUTAIEV SANDBANK – KREMENCHUK

Barge plus tug flying the Ukrainian flag (a pusher tug plus 2 barges), 5 600 tons of cargo

In accordance with the current legislation River due of UAH 0.005 Canal dues, UAH 0,00 0,00 Tonnage dues, UAH 2 138,04 0,00 Administration dues, UAH 1 068,89 0,00 Light dues, UAH 2 235,29 0,00 Sanitary dues, UAH 1 068,89 0,00 Anchorage dues, UAH 0,00 0,00 Locking services*, UAH 11 144,45 0,00 Pilotage, UAH 0,00 0,00 VTMS, UAH 3 109,70 3 109,70 River due, UAH 0,00 17 780,00 Excise tax*, UAH 58 857,00 58 857,00 Total, UAH 79 622,26 79 746,00 Total per 1 ton, UAH 14,22 14,24 Cumulative increase in dues and fees in comparison 0,00 123,74 with the current legislation, UAH Cumulative increase in dues and fees in comparison 0,00 0,02 with the current legislation per 1 ton, UAH Upon implementation of the river due of UAH 0.005 and taking into account potential freight traffic on the inland waterways of 10 million tons, the total annual revenue from the river due will comprise UAH 31.75 million. This demonstrates inefficiency of the river due adoption to form the budget of the river waterways authorities. 4

PRIME COST OF GRAIN TRANSPORTATION KREMENCHUK – (as of April 1, 2016, before increase in tariffs for railway services)

UAH 197.34 per ton

UAH 249.82 per ton

UAH 342.72 per ton 5

PRIME COST OF GRAIN TRANSPORTATION KREMENCHUK – MYKOLAIV (since May 1, 2016, after increase in tariffs for railway services)

The Ministry of UAH 226.94 per ton Infrastructure of Ukraine plans to increase tariffs by 15 %. It is unacceptable. The Ministry of UAH 249.82 per ton Infrastructure of Ukraine should develop tariff policy to concentrate transport UAH 342.72 per ton logistics of Ukraine on transportation by waterways. 6

PRIME COST OF GRAIN TRANSPORTATION KREMENCHUK – MYKOLAIV (according to the draft law No. 2475a on inland water transport)

Given the abolishment of certain payments and taking into account the river due. UAH 226.94 per ton Reduction of the prime cost for river transportation by UAH 3.24 through fees and dues is explained by the fact that they comprised a small share of the total prime cost. Excise tax UAH 246.40 per ton forms the major share of the prime cost. Excise taxes: Ukraine – EUR 113 per ton; The USA – USD 76.71 per ton; UAH 342.72 per ton Europe – there is no excise tax. We suggest reducing the excise tax in Ukraine at least by 50 %. 7

COMPARISON OF VESSEL CALL AT SEA PORTS Motor vessel, 25 thousand tons Motor vessel, 60 thousand tons Europe Europe Mykolaiv Rotterdam Hamburg Ghent Antwerp Mykolaiv Rotterdam Hamburg Ghent Antwerp Length of canals, miles 44 10 70 18 43 Length of canals, miles 44 10 70 18 43 Dues Dues Tonnage dues (in/out), Tonnage dues (in/out), including: $ 17 321,85 10 407,58 13 474,43 $ 38 667,39 22 144,87 28 650,98 including: € € € € $ 43 702,66 - - $ 97 556,99 - - Canal dues (in/out), including: Canal dues (in/out), including: 1. canal passing due $ 37 469,25 - - 1. canal passing due $ 83 642,22 - - $ 6 233,41 - - $ 13 914,77 - - 2. entrance canal dues € 19 392,47 € 8 708,00 2. entrance canal dues € 41 214,84 € 18 629,00 Light dues $ 2 825,55 - - Light dues $ 6 307,45 - - Berth dues $ 2 149,88 € 5 242,50 € 3 980,00 Berth dues $ 4 799,14 € 12 582,00 € 9 552,00 Anchorage dues $ 264,13 -- $ 589,61 Anchorage dues -- $ 1 351,35 Administration dues € 171,30 € 171,30 Administration dues $ 3 016,60 € 171,30 € 171,30 Sanitary dues $ 1 489,92 € 415,00 - € 168,38 € 218,38 Sanitary dues $ 3 325,94 € 615,00 - € 273,68 € 323,68 Payments for services Payments for services $ 10 171,98 8 310,00 7 107,54 9 672,92 $ 37 394,93 16 418,00 10 156,14 13 715,80 Pilotage, including: € € € Pilotage, including: € € € 1. canal passing $ 8 815,72 € 9 930,00 € 7 328,00 € 4 832,34 € 4 832,34 1. canal passing $ 25 602,75 € 10 870,00 € 14 852,00 € 6 894,12 € 6 894,12 $ 1 356,26 982,00 2 275,20 4 840,58 $ 11 792,18 1 566,00 3 262,02 6 821,68 2. pilotage (in) / entrance canal € € € 2. pilotage (in) / entrance canal € € € VTMS $ 1 651,10 € 664,33 - - - VTMS $ 5 528,61 € 1 076,74 - - - Mooring / unmooring $ 2 160,00 - - € 1 000,59 € 793,00 Mooring / unmooring $ 3 600,00 - - € 1 280,83 € 1 400,00 Tugs $ 10 909,08 € 5 860,00 € 10 120,00 € 19 264,86 € 6 192,48 Tugs $ 48 232,22 € 14 130,00 € 14 410,00 € 31 237,14 € 12 749,76 Harbour Master fee $ 368,40 € 30,00 - - - Harbour Master fee $ 368,40 € 30,00 - - - Agency service $ 4 056,20 € 4 830,00 € 4 844,00 € 5 350,00 € 5 350,00 Agency service $ 5 130,00 € 7 090,00 € 7 899,00 € 7 354,00 € 7 354,00 Bunker adjustment - --€ 212,00 € 212,00 Bunker adjustment - --€ 308,00 € 308,00 Other $ 293,17 € 1 368,00 € 2 325,00 € 1 104,00 € 500,00 Other $ 407,98 € 2 514,00 € 3 078,00 € 1 594,00 € 500,00 Total $ 98 715,27 € 42 489,80 € 34 307,00 € 50 028,75 € 40 564,51 Total $ 254 925,26 € 77 540,58 € 60 434,00 € 87 101,96 € 74 725,52 Total per 1 ton $ 3,95 € 1,70 € 1,37 € 2,00 € 1,62 Total per 1 ton $ 4,25 € 1,29 € 1,01 € 1,45 € 1,25 Given the information, canal dues at Mykolaiv are unreasonably high. The decision to reduce the disbursement account by USD 1 per ton at Mykolaiv port through reduction of the canal dues by 58% is an impartial and economically justified one. Moreover, at least USD 1 per ton of port charges in a disbursement account, given the USPA expenses for port infrastructure, is not used for intended purpose. It makes sense to use 57 % of tonnage, canal, light, berth, anchorage, administration, and sanitary dues (USD 1 per ton): to develop infrastructure of port (50%) and to develop inland water transport (50 %). This will significantly enhance competitiveness and turnover of Mykolaiv port and port compared to other Black Sea Ports in Ukraine and ports in the world. If the freight traffic is increased by 33 %, the adjustments of port charges and services provided at sea ports, and use of the funds will be repaid due to economy of scale. Upon reaching 20 million tons of total freight traffic at Mykolaiv port and Kherson port due to increase of river transportation, one would receive USD 10 million to develop infrastructure of cities and USD 10 million to develop inland water transport. 8

CANAL DUES IN TERMS OF FREIGHT TRAFFIC OF THE PORTS

% of the total Canal dues Total freight Canal dues Canal dues Canal dues, Canal dues, amount of Canal dues, (entrance traffic of ports Canal dues, Sea port (BDLC), UAH (KSC), UAH total UAH total, USD* canal dues at USD per 1 canal), UAH per years, UAH per 1 ton thousand thousand thousand thousand all ports of ton * thousand thousand tons Ukraine Mykolaiv, 2014 458 385,60 0,00 52 082,50 510 468,10 42 944,48 50,38 20 802,80 24,54 2,06 Mykolaiv, 2015 854 880,80 0,00 97 706,20 952 587,00 43 556,79 53,46 22 233,00 42,85 1,96 Kherson, 2014 0,00 38 246,30 32 473,90 70 720,20 5 949,52 6,98 3 901,00 18,13 1,53 Kherson, 2015 0,00 73 485,50 62 763,20 136 248,70 6 229,94 7,65 4 133,90 32,96 1,51 All sea ports of 1 013 212,50 85 239,13 100,00 144 866,10 6,99 0,59 Ukraine, 2014 All sea ports of 1 781 914,40 81 477,57 100,00 144 646,16 12,32 0,56 Ukraine, 2015 All sea ports of Ukraine, excluding 432 024,20 36 345,13 42,64 120 162,30 3,60 0,30 Mykolaiv and Kherson, in 2014 All sea ports of Ukraine, excluding 693 078,70 31 690,84 38,90 118 279,26 5,86 0,27 Mykolaiv and Kherson, in 2015 * average exchange rate of USD in 2014 comprised UAH 11.8867: USD 1 average exchange rate of USD in 2015 comprised UAH 21.870: USD 1 Given the information, canal dues at Mykolaiv are unreasonably high. The decision to reduce the disbursement account by USD 1 per ton at Mykolaiv port through reduction of the canal dues by 58% is an impartial and economically justified one. Moreover, at least USD 1 per ton of port charges in a disbursement account, given the USPA expenses for port infrastructure, is not used for intended purpose. It makes sense to use 57 % of tonnage, canal, light, berth, anchorage, administration, and sanitary dues (USD 1 per ton): to develop infrastructure of port cities (50%) and to develop inland water transport (50 %). This will significantly enhance competitiveness and turnover of Mykolaiv port and Kherson port compared to other Black Sea Ports in Ukraine and ports in the world. If the freight traffic is increased by 33 %, the adjustments of port charges and services provided at sea ports, and use of the funds will be repaid due to economy of scale. Upon reaching 20 million tons of total freight traffic at Mykolaiv port and Kherson port due to increase of river transportation, one would receive USD 10 million to develop infrastructure of cities and USD 10 million to develop inland water transport. 9

COMPARATIVE CALCULATIONS OF CUSTOMS DUTIES WHEN IMPORTING VESSELS AND PAYING DUTIES IN ACCORDANCE WITH THE CURRENT LEGISLATION AND THE DRAFT LAW NO. 2713 DATED 23.04.2015 Customs duties on temporary admission in accordance with Article Customs duties on temporary Import duties 105 of the Customs admission for one month* Code of Ukraine on the Code according Item Estimated Duty Description according to UCG FEA draft law (No. 2713 dated to UCG FEA costs, USD rates 23.04.2015)

Duties, Duties, Total, Duties, VAT, Total, VAT, USD Total, USD VAT, USD USD USD USD USD USD USD

Vessels, boats, and other watercrafts Cruise ships, excursion vessels, ferries, cargo ships, barges and Volgo-Don 8901 90 10 00 other crafts to transport people or 1 500 000,00 5 % 75 000,00 315 000,00 390 000,00 2 250,00 9 450,00 11 700,00 0,00 0,00 0,00 vessels cargoes: - other cargo vessels, passenger and cargo vessels: - sea-going - other cargo vessels, passenger and cargo vessels: barges 1 000 000,00 5 % 50 000,00 210 000,00 260 000,00 1 500,00 6 300,00 7 800,00 0,00 0,00 0,00 8901 90 10 00 - sea-going - other cargo vessels, passenger barges and cargo vessels: 1 000 000,00 5 % 50 000,00 210 000,00 260 000,00 1 500,00 6 300,00 7 800,00 0,00 0,00 0,00 8901 90 90 00 - sea-going Vessels, boats, and other watercrafts tugs 500 000,00 10 % 50 000,00 110 000,00 160 000,00 1 500,00 3 300,00 4 800,00 0,00 0,00 0,00 Tugs and pusher tugs: 8904 00 10 00 - tugs Vessels, boats, and other watercrafts Pusher tugs 500 000,00 5 % 25 000,00 105 000,00 130 000,00 750,00 3 150,00 3 900,00 0,00 0,00 0,00 -pusher tugs 8904 00 91 00 - sea-going For example, if one imports a “Volgo-Don” vessel worth USD 1.5 million and pays customs duties without preferences, a resident must pay USD 75 000 of duties and USD 315 000 of VAT. The cost of credit services in amount of the VAT a resident receives in three month, if he uses 10% of the credit rate per annum, will comprise 390 000% * 10/12 * 3 = $ 9 750,00 Thus, the cost for transportation per one ton of cargo performing four cargo trips of 3 500 thousand tons monthly during three months will increase by: $ 9750/3500 * 4/3 = $ 0.23 10

COMPARATIVE CALCULATIONS OF CUSTOMS DUTIES WHEN IMPORTING VESSEL FROM EPTA COUNTRIES (ICELAND, NORWAY, SWITZERLAND, LIECHTENSTEIN) OR EU COUNTRIES WITHOUT DUTIES PAID IN ACCORDANCE WITH THE CURRENT LEGISLATION OF UKRAINE AND THE DRAFT LAW NO. 2713 DATED 23.04.2015 Customs duties on temporary admission in Customs duties on accordance with Article 105 Import duties temporary admission for Code of the Customs Code of Estimated Duty one month* according to Description according to UCG FEA Item Ukraine on the draft law (No. costs, USD rates UCG FEA 2713 dated 23.04.2015) ** Total, Duties, VAT, Total, Duties, VAT, Duties, USDVAT, USD Total, USD USD USD USD USD USD USD

Vessels, boats, and other watercrafts Cruise ships, excursion vessels, ferries, cargo ships, barges and other crafts to Volgo-Don 1 500 300 300 8901 90 10 00 0 % 0,00 0,00 9 000,00 9 000,00 0,00 0,00 0,00 transport people or cargoes: vessels 000,00 000,00 000,00 - other cargo vessels, passenger and cargo vessels: - sea-going -other cargo vessels, passenger and 1 000 200 200 cargo vessels: barges 0 % 0,00 0,00 6 000,00 6 000,00 0,00 0,00 0,00 000,00 000,00 000,00 8901 90 10 00 - sea-going - other cargo vessels, passenger and 1 000 200 200 cargo vessels: barges 0 % 0,00 0,00 6 000,00 6 000,00 0,00 0,00 0,00 000,00 000,00 000,00 8901 90 90 00 - others Vessels, boats, and other watercrafts 100 100 Tugs and pusher tugs: tugs 500 000,00 0 % 0,00 0,00 3 000,00 3 000,00 0,00 0,00 0,00 000,00 000,00 8904 00 10 00 - tugs Vessels, boats, and other watercrafts 100 100 -pusher tugs pusher tugs 500 000,00 0 % 0,00 0,00 3 000,00 3 000,00 0,00 0,00 0,00 000,00 000,00 8904 00 91 00 - sea-going *in accordance with the Article 106 of the Customs Code of Ukraine, temporary admission of goods with partial conditional exemption from payment of duties is provided. If one imports goods with partial conditional exemption from payment of duties for each full or incomplete calendar month of the term declared at the customs territory of Ukraine, one should pay 3 % of the customs duties payable in case of release of goods in free circulation at the customs territory in Ukraine, calculated on the date of their placement under the customs regime of temporary admission. The amount of customs duties is paid when placing goods in customs regime of temporary admission. It is calculated per a prescribed term of validity of the customs regime by authority of revenues and fees. The customs duties are paid in the same way if the term for temporary goods admission is extended in accordance with the Article 108 of the given Code. The total amount of customs duties paid on the stay of goods in the customs regime of temporary admission with conditional partial tax exemption of customs duties shall not exceed the amount payable in case of release of goods in free circulation in the customs territory of Ukraine, designed to date of placing them under the customs regime of temporary admission. ** according to the draft law (No. 2713 dated 23.04.2015), it is suggested to allow import of vessels in accordance with the Article 105 of the Customs Code of Ukraine with conditional full exemption from payment of duties *** if vessels constructed in EPTA countries (Iceland, Norway, Switzerland, Liechtenstein) or EU countries are imported and if one has a certificate of their origin, the duty rate comprises 0%). 11

For example, if one imports a “Volgo-Don” vessel worth USD 1.5 million and pays customs duties with preferences, a resident must pay only USD 300 000 of VAT. The cost of credit services in amount of the VAT a resident receives in three month, if he uses 10% of the credit rate per annum, will comprise: $ 300 000 * 10 % / 12 * 3 = $ 7 500,00 Thus, the cost for transportation per one ton of cargo performing two cargo trips of 3 500 thousand tons monthly during three months will increase by $ 7 500 / 3 500 * 2 / 3 = $ 0,18 Conclusions: If the law of Ukraine on the amendments to the Customs Code of Ukraine is adopted (on assistance do develop navigation in Ukraine, No. 2713 dated 23.04.2015), the state will lose: *dues (if the vessels from not preferential countries are imported and if the required conditions of the state origin are non-confirmed); *VAT payments; *Non-competitiveness of the Ukrainian shipbuilding yards; *taxes from the revenue of foreign crews working on the vessels imported to Ukraine; *workplaces for Ukrainian sailors (if one transports 10 million tons of cargo, the estimated number of workplaces at river transport can be about 2 000 people). In 2015, the average number of employees at NIBULON’s shipping company was 255 persons NIBULON’s shipping company Payments to transport 10 million tons of cargo by water

Average number, persons 255 2 000 Wage, UAH thousand 35 284,8 276 743,5

Fund for wages, UAH thousand 12 570,2 98 589,8 Total, UAH thousand 47 855,0 375 333,3 Given the estimated number of new workplaces, funds for wages at shipping companies of Ukraine would be about UAH 98.6 million per year

* The state doesn’t receive orders to construct river vessels at the domestic shipyards (there are four shipyards in Mykolaiv) The estimated amount of barges required to transport 10 million tons of cargo will comprise about 120 units (if the capacity of 1 vessel is 4 000 tons). Loss of opportunity to provide workplaces at shipyards (about 6 000 persons per 2 years). Shipbuilding and repair yard Payments to transport 10 million tons of cargo by water transport in Ukraine “NIBULON”» Average number, persons 327 6 000 Wage, UAH thousand 43 501,8 798 198,2

Fund for wages, UAH thousand 15 218,2 279 233,0 Total, UAH thousand 58 720,0 1 077 431,2 Given the estimated number of new workplaces, funds for wages at shipping companies of Ukraine can be about UAH 1077,4 million per year

*When making orders at shipyards of Ukraine to construct 120 barges, there will be made orders to buy metal at the Ukrainian iron and steel plants (one needs 1 300 tons per 1 barge, the total demand will be about 156 000 tons). • In turn, these orders will also give impetus to the economy of Ukraine as a whole by increasing workplaces, wages, wage deductions to the budget, VAT and other taxes. 12

CONCLUSIONS

THE DRAFT LAWS NO. 2475A, 2476A, 2713 AND 2712 ARE UNJUSTIFIED AND BASELESS. THEY WILL LEAD TO: 1) ENHANCEMENT OF FISCAL BURDEN ON INLAND WATER TRANSPORT FLYING THE UKRAINIAN FLAG, LOSS OF COMPETITIVENESS IN COMPARISON TO THE TRANSPORT FLYING FLAGS OF OTHER COUNTRIES; 2) 1750 WORKPLACES IN SPHERE OF NAVIGATION ARE NOT CREATED. 5 650 WORKPLACES –IN THE SHIPBUILDING SECTOR; 3) SHORTFALL IN REVENUES TO THE STATE BUDGET: IN PARTICULAR AS REGARDS THE EXCISE TAX – ABOUT EUR 9.6 MILLION PER YEAR, PAYMENTS FROM WAGES – ABOUT UAH 320 MILLION PER YEAR. 4) SHORTFALL IN CUSTOMS DUTIES (DUTIES AND VAT) DURING TEMPORARY IMPORT OF FOREIGN VESSELS TO THE TERRITORY OF UKRAINE COMPRISES USD 390 THOUSAND PER ONE VESSEL WORTH USD 1.5 MILLION.

MOREOVER, THE SUGGESTED DRAFT LAWS CONTRADICT THE PRACTICE OF THE EU AND THE USA IN INLAND WATERWAYS MAINTENANCE.

HOWEVER, REVIVAL OF INLAND WATERWAYS IS A VITAL ISSUE FACING THE INDUSTRY.

CANAL DUES PAID AT SEA PORTS OF UKRAINE AND THE FUEL EXCISE TAX PAID BY SHIPPING COMPANIES ARE FAIR SOURCES TO REVIVE AND DEVELOP INLAND WATERWAYS. THESE SOURCES WILL PROMOTE HEALTHY COMPETITION AND DEVELOPMENT OF THE INDUSTRY, EXCLUDING ADDITIONAL LOAD ON MARKET PARTICIPANTS.

REFERENCE:

1) ON OCTOBER 10, 2015, THE DECISION OF THE COMMITTEE OF THE VERKHOVNA RADA OF UKRAINE ON TRANSPORT ISSUES WAS TO RECOMMEND THE MINISTRY OF INFRASTRUCTURE OF UKRAINE TO INITIATE MEASURES TO REGULATE CANAL DUES RATES FOR VESSELS CROSSING BDLC. DESPITE THE SUGGESTED DEADLINE OF MARCH 30, 2016, THE INSTRUCTIONS ARE STILL UNFULFILLED.

2) SHIPMENTS AT SEA PORTS: MYKOLAIV – 29.1 MILLION TONS, KHERSON – 4.1 MILLION TONS. 13

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