23.03.2010, 16:04
Ukrainian Danube Shipping Company recovered it’s ship Vilkovo previously arrested in Greece Ukrainian Danube Shipping Company (UDSC) recovered the ship, which called at the port March 22, 2010, in Izmail (Ukraine). As the Shipping Company reported to PortNews IAA, the vessel was arrested in December 2008 in the Greek port Psahna for long-term debts to local enterprises Azoil and Vestoil.. Because of the precarious financial state of UDSC judicial formalities were settled only in January this year. Negotiations for the release of the vessel lasted more than a year, while the creditors were going to sell it by auction. It was managed to settle claims of creditors and avoid the loss of state property only by sending money received from scrapping of ship Radomishl for scrap metal. Shipping Company has no other sources to receive current assets. All revenue go for the fuel supply of operating fleet, slop fleet maintenance, as well as payroll and taxes. Ukrainian Danube Shipping Company JSC continues to give hostage to imperfect Ukrainian legislation and primitive public administration. As you know, since November last year workers of Shipping Company has been clashing with the Ministry of Transport and Communications because of unmotivated refusal of the government body to permit the disposition of a physically worn-out fleet, "- UDSC statement says. Ukrainian Danube Shipping Company JSC is the largest shipping company in Ukraine. UDSC Fleet includes universal and specialized river, sea and mixed "river-sea" ships, and passenger fleet.
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