5 January 2023

Decrease of Nibulon export vs. Y2021 made 3.8M tons or 70%.

In his interview to Liga.net, Nibulon owner Andriy Vadaturskiy noted that the loss of the company because of full-scale war in Ukraine reached $415M.

Prior to the russian full-scale invasion, Nibulon's logistics model was focused on grains origination in proximity to its river terminals, with subsequent loading on barges, transportation to Mykolaiv port, and transshipment onto ships.

After Russia blocked Mykolaiv port and occupied Kherson region, this model was destroyed, moreover, unlike some competitors - international trading companies - Nibulon did not have financial resources to build new effective routes through other Ukrainian Black Sea ports (after the opening of grain corridors).

So starting from August, Nibulon on average exports approximately 150-200 thousand tons of grain per month (500-600 thousand tons during July-December 2021). For the entire 2022 calendar year, the total export of grain by Nibulon amounted to about 1.8 million tons (in 2021 – 5.6 million tons).

In addition, 22,000 hectares of the Nibulon land bank remained in the temporarily occupied territory.

Today, the company has only one goal - to survive, to align with creditors on the loans restructuring, and to hope for the unblocking of Mykolaiv port and navigation on the Dnipro river.