Kernel considers exiting shipping business after selling another bulker
Photo by: Кернел / Kernel
Kernel has sold the bulker Rotterdam Pearl V, which it acquired in December 2023. The deal signals a potential shift in the company’s strategy — a complete withdrawal from owning its own fleet, according to the agricultural holding.
The company said the 55,000-ton deadweight vessel was part of its anti-crisis strategy in 2023–2024. During a period of critical freight shortages and peak freight rates, the company’s own fleet allowed Kernel to ensure uninterrupted exports of its products. However, the stabilisation of the grain corridor and an oversupplied freight market have reduced the need for owned vessels.
The company has decided to focus on its core operations while maintaining the ability to quickly return to the shipping segment if necessary.
“We entered shipping when freight rates were at their peak and access to vessels was limited. Our fleet fulfilled its mission: we gained control over the export supply chain and deep expertise in the market. Today the situation has changed, and we are adapting in order to remain efficient,” said Mykola Miroshnychenko, Logistics Director at Kernel.
The company’s fleet currently consists of only one vessel — the tanker MAVKA with a deadweight of 13,500 tons used for transporting vegetable oil.
- In October 2023, Kernel had purchased two vessels — the dry bulk carrier ENEIDA with a deadweight of 47,300 tons and the tanker MAVKA with a deadweight of 13,500 tons. It was the group’s first such investment.
- Later, in December 2023, Kernel acquired Rotterdam Pearl V.
- In FY2024, the company sold the vessel ENEIDA.
