Ukraine’s Asset Recovery and Management Agency (ARMA) is looking for a manager for a seized Russian bulker Emmakris III which has been at the port of Chornomorsk, southwest of Odesa, since the beginning of the conflict in the country. An investigative judge of the Pechersk District Court of Kyiv handed the 2000-built, 73,281 dwt bulker to ARMA for management. Currently, it is moored near the berth of the railway and ferry complex of Chornomorsk port. The authorities inspected the vessel and found that the vessel was in satisfactory condition and could be used for the transhipment and storage of dry cargo. The 225 m long bulker was appraised by Jurformat at almost UAH109m ($2.65m). “Over the last year, the cost of grain storage has increased significantly, which is associated with an increase in the cost price and an increase in the risk of product storage. Considering the limited capabilities of the Odesa region’s port infrastructure for the transhipment of grain, this vessel may be very interesting to market operators,” said Stanislav Petrov, ARMA deputy chairman. The next stage will be the announcement of an open tender via Ukraine’s public electronic procurement system Prozorro to select the manager of this asset. Although the Panama-flagged vessel has been listed as being owned by UAE-based MCF Shipping since mid-2019, a court case based on which the vessel was detained claimed that the actual owner of the vessel is a Russian shipping company called Linter based in Rostov-on-Don. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsRussia Ukraine