KDM Shipping revenue increases 18% yoy in September

KDM Shipping (KDM PW), a leading Ukrainian bulk shipping company, boosted its cargo transportation in September 8.9% yoy to 74.85 kt (+3% m/m), the company announced on November 4. Helped by an average 8% yoy freight rate growth to USD 28.5/t in September, revenue from cargo transportation grew 18% yoy to USD 2.1 mln (+7% m/m).

Roman Topolyuk: KDM’s strong operating performance, both in terms of volumes transported and average freight rate achieved, was driven by higher grain exports after a record harvest this year, as well as by restored steel scrap exports from Ukraine. We expect these two segments will contribute positively to the company’s top line at least by the year end.