Kernel abandons its own fleet

According to the holding’s press service, the deal marks a potential shift in the company’s strategy — a complete move away from owning its own fleet in favor of operational flexibility.

The 55,000-tonne bulk carrier was part of the company’s anti-crisis strategy for 2023–2024. During a period of critical freight shortages and peak rates, having its own fleet allowed Kernel to ensure uninterrupted exports of its products. The stabilization of the grain corridor and the saturation of the market with available tonnage reduced the need for an owned fleet. The company decided to focus on its core operational processes while retaining the ability to quickly return to the segment if needed.

«We entered shipping when freight rates were at their peak and access to vessels was limited. Our own fleet fulfilled its mission: we gained control over the export chain and developed deep market expertise. Today, the situation has changed, and we are adapting in order to remain efficient,» said Mykola Miroshnychenko, Logistics Director at Kernel.

Kernel currently has only one vessel left in its fleet — the MAVKA tanker, with a carrying capacity of 13,500 tonnes, used for transporting vegetable oil.

For reference: Kernel is a producer and exporter of sunflower oil, as well as a leading supplier of agricultural products from the Black Sea region to global markets. The company’s vertically integrated structure is built around closely interconnected business segments: production, export and domestic sales of sunflower oil; high-tech crop farming; grain exports; and the provision of grain storage and transshipment services at elevators and port terminals.