KDM Shipping Public Ltd. (Cyprus), the holding company of the leading Ukrainian shipping operator Capital Shipping Company LLC (Kyiv), has finalized its relations with Russia's ShipMar LLC.
The company said in a report on the Warsaw Stock Exchange (WSE) that during the period of February 13, 2015 and June 21, 2015, it finalized all of its relations with ShipMar LLC. The last voyage under the Bareboat Agreement between KD Shipping Co. Limited Inc. and ShipMar LLC was finished on June 21, 2015.
"As of today the company is not in any business relationship or ownership with ShipMar LLC, Russia," reads the report.
The company said that acquisition of ShipMar LLC by KDM Shipping Public Limited was canceled during 2014.
In late 2012, it was reported that KDM Shipping Public Ltd. Acquired ShipMar LLC for $2.99 million. Its subsidiary KD Shipping Co. Limited Inc. was the buyer and Andrei Batin was the seller. The deal was signed on December 10.
KDM Shipping transports bulk cargos aboard river-sea class ships in the Black Sea, the Sea of Azov, and the Mediterranean Sea. The group has 10 vessels with a total deadweight of 29,673 tonnes. The company also provides passenger services on rivers in Kyiv region (eight river class vessels) and ship-repair services at its shipyard in Kherson.
