First Meeting of the Supervisory Board of PJSC “Ukrainian Danube Shipping Company”

On 2 September 2025, the first meeting of the Supervisory Board of PJSC “Ukrainian Danube Shipping Company” (UDSC) took place. The event marked the starting point in building a modern governance system for the state-owned shipping company, which plays a key role in the development of the Danube region and in strengthening Ukraine’s economic security.

The Supervisory Board brings together leading experts from Ukraine and Europe:

• Benoît Pleska (Belgium) — Independent Member, Partner at Roof & Food (Romania), former Chairman of the Supervisory Board of Ukrposhta;
• Michael Jørgensen (Denmark) — Independent Member, former CFO of Pacific Basin Group;
• Dennis Lent Olesen (Denmark) — Independent Member, Chief Operating Officer at APM Terminals Europe and Africa;
• Andriy Kashuba (Ukraine) — State Representative, Deputy Minister for Communities and Territories Development of Ukraine;
• Taras Boichuk (Ukraine) — State Representative, Managing Partner at “Spilno” LLC, World Bank consultant, Head of the PPP project office “SPILNO”.

UDSC faces significant challenges since 2022 — loss of over half of its cargo base, falling freight rates, and fierce competition. The company’s strategy for 2025, presented by CEO Ihor Chortov, includes cost optimization, fleet modernization, new contracts in the Black Sea and Danube regions, and the creation of a modern training center for crews.

The Institute of Danube Research welcomes the establishment of the Supervisory Board as a crucial step towards integrating UDSC into a modern economic governance model. The combination of state and private expertise, international involvement, and focus on modernization will strengthen the company’s competitiveness and ensure sustainable development of the Danube region.

Background:
PJSC “Ukrainian Danube Shipping Company” is a state-owned shipping company engaged in river and sea freight and passenger transport. It also operates its own shipbuilding and ship repair yard in Kiliia (Odesa region).