Another step forward for Ukraine’s port concession process

The law was subject to being signed by Ukrainian president Viktor Yanukovych and, once signed, would for the first time open the way to the privatisation of state-owned ports. To the amazement of the international maritime community, however, the president refused to sign the draft. Finally, after amendments the Law was signed by the President and published on June 13 2012. The Law on the Sea Ports of Ukraine will enter into legal force and is due to come into effect 12 months later on June14, 2013.

In breaking news it has just been announced that the Cabinet of Ministers has finally included all Ukraine’s ports in the List of Concession Objects under Resolution 1055 dated October 15, 2012. Inclusion within this Resolution is a crucial step towards progress ofthe port reforms from the Law on the Sea Ports of Ukraine.

Prior to the Law on the Sea Ports of Ukraine, the possibility of awarding concessions for ports had already existed under the Law on Concessions but until now neither ports nor terminals had been included in the List of Concession Objects without which, it was impossible to award an actual concession.