January 30, 2022 [Ukrainian News] – Kernel Holding, one of the largest operators on the oil market, acquired a terminal in the Yuzhny port (Odesa Region).

This is stated in the company’s message, Ukrainian News Agency reports.

It is noted that Oil Export Terminal can receive and separately store all types of vegetable oils – sunflowerseed, soybean, rapeseed.

“Mykolaiv is of historical importance in this matter. Due to the full-scale war, the port and terminals are stopped and are outside the grain corridor. Therefore, we will compensate for the temporary losses at the expense of the Oil Export Terminal in Yuzhny,” emphasized the company’s director general Yevhen Osypov.

In turn, the production director of Kernel Yurii Puhach said that 49,400 tons of products can be stored at the terminal at the same time.

“The available capacities are divided into 4 groups with the possibility of draining oil from road and rail transport. The project of draining oil from tank containers on railway platforms has also been implemented. Today, the maximum unloading at the terminal per day is 100 tank cars with a total volume of 2,500 tons and 24 railway tanks with a volume of 1,440 tons. The maximum speed of loading ships is 500 tons per hour,” he said.

As Ukrainian News Agency earlier reported, in the 2021/2022 marketing year, Kernel suffered a loss of USD 41 million, compared to a net profit of USD 513 million in 2020/2021.

For the specified period, the company reduced revenue by 4.7% or USD 0.263 billion to USD 5.332 billion compared to 2020/2021 marketing year, and EBITDA 3.7 times to USD 220 million.

The company has a land bank of more than 600,000 hectares – in 2017, Kernel absorbed Ukrainian Agrarian Investments and completed the implementation of the strategy to increase the land bank.

The company’s enterprises produce products under the names Shchedryi Dar, Stozhar, Chumak Zolota.

Kernel owns 9 oilseed processing factories in Ukraine.

Businessman Andrii Verevskyi controls about 40% of Kernel through the Cypriot Namsen Limited.

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