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cargo ship Algrace anchors on the Danube River near the port of Izmail, Odesa Oblast, Ukraine, on July 27, 2023
Business

Exclusive: Ukraine shipping giant is sinking amid allegations of mismanagement and corruption risks

by Luca Léry Moffat

Leaked internal documents obtained by the Kyiv Independent suggest one of Ukraine's largest state-owned shipping companies is being run into the ground and may be under the influence of external interests — offering a rare look at the governance failures that continue to plague the country's state-owned enterprises. In early May, the chairman of the Ukrainian Danube Shipping Company's (UDP) supervisory board sent a lengthy letter to Ukraine's parliament. In it, he sounds the alarm over a severe

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Exclusive: Ukraine shipping giant is sinking amid allegations of mismanagement and corruption risks

Leaked internal documents obtained by the Kyiv Independent suggest one of Ukraine's largest state-owned shipping companies is being run into the ground and may be under the influence of external interests — offering a rare look at the governance failures that continue to plague the country's state-owned enterprises. In early May, the chairman of the Ukrainian Danube Shipping Company's (UDP) supervisory board sent a lengthy letter to Ukraine's parliament. In it, he sounds the alarm over a severe

cargo ship Algrace anchors on the Danube River near the port of Izmail, Odesa Oblast, Ukraine, on July 27, 2023
Tuesday, July 7

Ukraine war latest: 8 Russian shadow fleet tankers hit in Azov Sea, Ukraine's 'Madyar' says

Key developments on July 7: * 'Industrial scale results' — 8 Russian shadow fleet tankers hit in Azov Sea, Ukraine's 'Madyar' says * 2 defense industry enterprises hit in Russia's Bryansk Oblast, oil depot in Belgorod Oblast, General Staff says * Ukraine signs drone cooperation deals with 3 NATO countries * Canada pledges $900 million to Ukraine for vehicles and ammo, but no air defense Ukrainian long-range drone strikes hit eight Russian shadow fleet tankers in the Sea of Azov, Ukraine's

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