Kernel has expanded its fleet by purchasing another vessel

In December 2023, Kernel purchased a bulk carrier with a deadweight of 50 thousand tons. This is stated in the company’s report for October-December 2023.

“As the third vessel in the Kernel fleet, the bulk carrier is a significant addition to expand the Group’s transportation and logistics capabilities,” the company said.

In October, it became known that Kernel acquired two vessels: the 47.3 thousand dwt bulk carrier ENEIDA and the 13.5 thousand dwt tanker MAVKA. This was the group’s first such investment.

Also in December 2023, Kernel completed the acquisition of 100% of the corporate rights of Reni-Oil LLC, a sunflower oil transshipment terminal with a one-time storage capacity of 15 thousand tons of sunflower oil in the port of Reni for $24.75 million.

In Q2 of FY2024, the company allocated additional investments to restore the vegetable oil transshipment terminal in the port of Chornomorsk, which it acquired in July 2023. The facility had been out of operation and not properly maintained for a long period of time, and in January 2024, the terminal started loading the first vessel with sunflower oil.

As a reminder, the restoration of Kernel’s Transbalkterminal, which was damaged as a result of the Russian attack, may take 1.5-2 years.

Tags: Kernel