SMG Doubled Its Production Output in 2018

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25.01.19

Smart Maritime Group (SMG, Kherson), incorporating Kherson and Nikolaev shipyards, almost doubled its production output in 2018 – to UAH 610 million compared to the previous year (UAH 317 million).

The growth of economic indicators was primarily due to the implementation of major shipbuilding contracts and contracts for manufacture of metal structures for YuGOK.

Thus, as part of a contract with the Dutch VEKA Shipbuilding WT B.V., the Company is building two outfitted hulls of chemical tankers. Kherson shipyard has fully assembled the hull of Nevada tanker and it is being painted currently. Nikolaev shipyard's specialists are working on the installation of Nebraska vessel's aft block. The value of this contract is over UAH 145 million. The tankers are expected to be delivered to the customer until the end of the first quarter of this year.

Under the contract with the Southern Mining and Processing Plant (Krivoy Rog, Dnipropetrovsk region) SMG manufactured, assembled and painted more than 2 thousand tons of metal structures. The products are intended for assembling of structural elements of the plant's new thickeners. The contract worth UAH 175 million was signed in February 2018 and as early as in December SMG shipped all the products to the customer, going ahead of schedule.

Last year, SMG repaired and upgraded 74 vessels on its stocks. The largest ship repair projects were renovation of the sludge removal barge on the basis of a donor vessel of the oil-and-ore carrier type, as well as the manufacture of a 30-meter insert for the modernization of the bulk carrier of 17310 design. The insert weighing 370 tons became an additional hold making it possible to increase the ship’s carrying capacity by 800 tons (about 20%).

The amount of taxes and fees paid by the Company to budgets of all levels for 2018 amounted to UAH 65 million. The average salary in the Company in December 2018 was UAH 11,815, including the average salary of workers of core professions (welders and assemblers) standing at UAH 13,761.

REFERENCE:

Smart Maritime Group (SMG) is Ukraine's largest shipbuilding holding company combining two shipyards: Nikolaev and Kherson.

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