SMG Shipbuilders Summed Up Their Performance Results for 2021


In 2021, Smart Maritime Group increased its revenue by 17% – to UAH 440 million.

Smart Maritime Group (SMG, Kherson), which includes Kherson and Mykolayiv shipyards, fulfilled upgrades of 6 coastal vessels and repairs of 51 ships in 2021.

SMG upgraded 6 coastal vessels for the Dutch EEMS Werken. The vessels’ hull length was extended by 12 metres by means of an extension block. The vessels became 2-hold ships (vs. 1-hold before the project implementation), and their deadweight increased by an average of 20%. During the execution of the contract, SMG’s specialists used about 900 tons of metal for the manufacture of metal structures.

In 2021, the company successfully implemented a project to manufacture metal structures for the construction of a bridge across the Dnipro River within the framework of the Great Construction Program from the President of Ukraine. SMG also fulfilled a contract for the manufacture of 5 navigation signs (buoys) for Derzhgidrografiya state enterprise.

The consolidated revenue of the company’s divisions from the sale of marketable products at the end of the year amounted to about UAH 440 million, which is 17% higher than in 2020.

The growth in revenue from ship repair and ship upgrade contracts was due to the high quality and timely fulfilment of contractual obligations, a significant increase in the range of customers thanks to the intensified efforts of the company’s Marketing Directorate, as well as due to the fact that the company mastered the manufacture of new types of metalwork products.

The positive image of SMG as a reliable production partner made it possible to conclude new shipbuilding contracts at the end of 2021: for the construction of two hulls of dry cargo ships with a deadweight of over 5,000 tons for Bodewes International Shipbuilding B.V. (the Netherlands) and construction of a push towboat for CRANESHIP (Ukraine). In addition, the option includes the construction of two more ship hulls for a customer from the Netherlands.

The gradual recovery of economic ties after COVID-related restrictions, and the market’s demand for cargo transportation vessels have led to ship owners’ investing in the repair of their existing fleet.

The amount of 2021 taxes and fees paid by the company to budgets of all levels amounted to UAH 51.3 million, including UAH 17 million paid to local budgets.

In 2021, SMG’s cargo terminal generated revenues at the level of UAH 29.2 million.

SMG directed UAH 23.6 million of investments to the program for the modernization of its production facilities. In 2021, Kherson Shipyard completed a large-scale overhaul of the roof of its covered ship-building slip – a special production building where ships are built and repaired year-round indoors, in completely enclosed premises. The area covered by the overhaul was 13,000 square meters.