In 2020, Smart Maritime Group (SMG, Kherson), comprised of Kherson and Nikolaev shipyards, renovated and repaired 55 vessels and built 2 chemical tanker hulls.

The consolidated sales revenue of the Company's divisions at the end of the year amounted to UAH 375 million, which is 22% less than in 2019. The decrease in revenue was due to the coronavirus pandemic, which deepened some negative trends in commodity markets, destabilized the freight market and, as a result, reduced the need for marine fleet renovation and repair among potential customers.

Last year SMG built and handed over to Dutch VEKA Group two outfitted hulls of chemical tankers (project Cavalli) SYNERGY and MONTEVERDІ.

Three deep re-design projects were implemented on the stocks of SMG. The most significant of them were the projects for the upgrade of dry-cargo vessels Gelius 1 and Dremora 2. Both vessels were lengthened through an insertion and converted into two-hold ships. Both vessels' deadweight increased by 45% and 38%, accordingly.

In 2020, contracts worth more than UAH 30 million were carried out at the Company's metalworking facilities. The key project was the manufacture of metal structures for the construction of a bridge across the Dnieper river.

SMG's cargo terminals last year handled 299,000 tons of cargoes (a 13% decrease) yielding revenues of over UAH 31 million. Kherson shipyard of SMG was provided with a new approach canal to its cargo terminal. Now it serves vessels with a draft of up to 7 meters.

The amount of taxes and fees paid by the Company to budgets of all levels for 2020 totalled UAH 50.7 million, including UAH 17 million paid to local budgets.

Investments worth UAH 20 million were allocated for the implementation of the production facilities' modernization program.

‘We started this year on a positive note – the implementation of a contract for the upgrade of 6 coaster vessels for the Dutch EemsWerken company. Unfortunately, we do not yet expect a significant improvement of the situation in the industry, especially in the domestic shipbuilding sector. In recent years, orders for shipbuilding and vessels’ upgrade or renovation came only from foreign customers. This is due to the fact that the state policy of Ukraine in relation to shipping and shipbuilding is not a stimulating one, but, on the contrary, is rather discriminatory. One of the most recent examples is the law on inland water transport adopted in December. The document not only does not contribute to the development of the domestic shipping and shipbuilding, but actually limits their rights,’ said Dmitriy Krasnikov, the CEO of SMG.

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Smart Maritime Group is the largest shipbuilding company in Ukraine combining the shipbuilding assets of Smart-Holding: Nikolaev and Kherson shipyards. The SMG’s production capacities allow the construction of medium-tonnage fully outfitted vessels and comprehensive ship repair operations. The shipyards’ customers are companies from the Netherlands, Norway, the UK and other countries.