UDP remains the only river carrier of iron ore for HBIS Serbia in 2024

PJSC Ukrainian Danube Shipping Company (UDP) remains the only river carrier of Ukrainian iron ore for the European steel plant HBIS Serbia. This is stated in the message of the UDP.

In 2023, the shipping company resumed its flights to the Middle Danube. Delivery of iron ore continues this year.

«We are constantly consulting with our partners to increase volumes. It is not a question of transferring these volumes to the PSA. The only question is whether our client needs additional volumes,» comments Vladislav Belakh, Deputy CEO of UDP.

Last year, HBIS Serbia shut down one of its two blast furnaces with a capacity of 900 thousand tons of pig iron. In January of this year, the company said it would restart it only after the market revives.

Overall, steel production in the EU fell by 7% last year and continued to decline at the beginning of this year. In Serbia, the decline was 34%.

«Demand for metal will grow, and the supply of raw materials to steel mills will increase,» Belah added.

As GMK Center reported earlier, UDP is seeking to increase cargo transportation for the mining and metals industry. In the medium and long term, the shipping company aims to increase iron ore transportation to 1.5 million tons per year. In 2024, there are many factors that may affect transportation volumes, including the situation on the grain market, the energy market and other markets, demand for steel products, and the climate factor.