Long money

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Arrival serious financially - industrial groups in the Ukrainian shipbuilding indicates end of a big cycle of primary accumulation of the capital. They are faced by a number of problems, but as show separate examples, these problems are quite solved.

If also the state supported, the Ukrainian shipbuilding would revive soon enough.

Investors go on shipyards

We will remember, after all in the beginning business - groups were formed on the basis of the trade capital, being in fact the companies - traders. Then, having saved up a financial fat, they passed into the production sphere - but mainly in export - the focused production, mainly into metallurgy. And it is frequent and in at all production of raw materials - as, for example, iron ore. At last, their looks addressed to production to more technological, with higher value added. And the most characteristic example of such transition - shipbuilding, mechanical engineering subbranch with one of the longest production cycles.

Such transition means transition from operations with "fast" money (trade) to operations with "long" money. That is the farther, the more large business - groups start working for long-term prospect. That, of course, at all doesn't mean refusal of "fast" money. It is a question more likely of reasonable diversification кракто - so-so - and long-term business - processes. Approximately as make the investment portfolios banks.

In shipbuilding business - groups it is worth carrying Pyotr Poroshenko's "Ukrprominvest" to number of the first comers. Having caught Kiev "A Lenin smithy", it planned to build ship-building holding on its base. It is more than that, at the beginning of 2000-x Pyotr Alekseevich was the only oligarch who has been a part of the Interdepartmental commission on preparation of offers on stabilization of work ship-building branch. However to build powerful holding as - that didn't leave.

Didn't leave at all to build ship-building holding at the Brinkford group (David Zhvaniya) privatizing Kerch shipbuilding plant "Gulf". However, two and a half years ago this plant passed under control another financially - industrial group - "Finance and the credit" (Konstantin Zhevago).And year earlier I got to the sphere of control of this group Kiev sudostroitelno - ship-repair plant. It should be noted success of this FPG in adjustment of ship-building business - approximately in a year she manages to bring an order on each of these plants and to provide new portfolios of orders, and with new to customers of vessels (or cases to them, as on KSSR).

In the same 2006 - m when there took place change of the investor on "Gulf", the Power Standard group (Konstantin Grigorishin) got a controlling stake of the Sevastopol sea plant. This group also controls the Kherson shipbuilding plant of Komintern and the Zaporozhye shipbuilding plant, building thereby the ship-building holding.

And a little earlier, since the beginning of 2005, the Kherson shipbuilding plant after its transition from state property to the Evroresurs company affiliated with Smart group (Vadim Novinsky) started reviving. Meanwhile, this business - group on only one ship-building asset didn't stop - in November, 2007 the Antimonopoly committee granted permission to the Kherson shipbuilding plant for acquisition of a controlling stake of the Black Sea shipbuilding plant in Nikolaev after former investors couldn't fulfill the accepted investment obligations.

The state without interest

Here it should be noted that arrival domestic business - groups in shipbuilding becomes possible also because actually the state Ukrainian this branch doesn't favor. At least, in comparison with a state policy in the countries which are actively supporting the shipbuilding. For example, in two world leaders of branch, Japan and South Korea, the state provides a vessel construction with grants (30% and 24% respectively), helps with modernization of shipyards, including financing programs, and also in design development, grants subsidies to shipbuilding for export (25% and 30%), and, besides, provides tax privileges (South Korea). Approximately the same situation in Germany and Holland. Well, and in Italy the state in shipbuilding supports in general everything that only it is possible.

Than the state policy on shipbuilding in Ukraine differs from that, what is carried out in industrialized countries? The inconsistency and minimalism.For example, the law "About Measures for the State Support of the Ship-building Industry in Ukraine" existing since 2000, really provides some support, for example, not taxation on profit before delivery of a vessel, a delay of payments of debts to the state budget, release from import duty and the VAT when importing some accessories, etc. But, in - the first, here the law not one for all. In reality he acts not concerning branch, and those enterprises which got in special (and often changed) the list. In which shipbuilding plants - in the presence in it the companies, by shipbuilding plants not being …

are presented to not all

Conditions in SEZ "Nikolaev" were local analog of a foreign example of support of shipbuilding, however they ogulno were cancelled in a uniform rush of fight against special economic zones at the beginning of 2005. As a result in a year the investment project at Okean plant left large Dutch ship-building holding Damen Shipyards Group. The Norwegian concern Aker Yards which has succeeded it was late for a while. In 2008 he sold control over plant of the FLC West investment company operating in interests of Russian "Sovcomflot".

And this with the fact that business of Damen is quite successful in the countries neighboring to Ukraine - the group has two enterprises in Romania and three in Poland. Yes that Damen, even quite Ukrainian "The industrial union of Donbass" for investments into shipbuilding considers as more attractive place Poland, despite a number of unresolved questions with the European Union on branch support of shipbuilders in it.

So quite logical there are statements of branch association "Ukrsudprom" for need to the thought-over and comprehensive state program of support of the Ukrainian shipbuilding. After all this quite technological branch will be able to provide with orders and other branches, the same instrument making or metallurgy which already faces falling of the world prices. Meanwhile in branch there is a professional recession, shortage of shots, in desolation scientifically - technical development …

is felt

And after all in the Soviet Union from 20% to 30% of production of ship mechanical engineering and 10% of navigation equipment it was made at the Ukrainian enterprises. And though Ukraine lost the ship-building positions in 1990-x, nevertheless to the middle 2000-x it entered ten the leading ship-building countries of Europe (as of 2005, having let out 37 vessels of 411,86 thousand tons).Then the output in branch came to level of 2,3 billion hryvnias (about 460 million dollars) in 2006, and "the ship new system" made then 135,5 million dollars. The gain of branch made then 11% (that lower than growth in previous year, 35%), "new system" of 15%-16%.

The most part of production from Ukraine is exported. The volume of prisoners during 2006 of ship-building contracts with foreign customers made 79,6 million dollars (26 units), and in 2005 of 117 million dollars (27 vessels). Thanks to this reserve in the next years sales of branch continued growth - to more than 213 million dollars for 2007 (export growth to 15%) and nearly 94 million dollars for the first half of the year 2008 (height more than 19%).

Development despite everything

Against such inconsistent state in the Ukrainian shipbuilding in it as it was spoken above, nevertheless the big capital comes. The latest example - formation of ship-building subholding within "A smart - holding" what it was officially declared at the beginning of September.

The management of ship-building subholding and plants entering it - shipbuilders - optimists, without watching even on indifferent (meanwhile) the relation to state branch. So, in the first of September the executive director of subholding Alexey Kuznetsov declared, neither it is a lot of, nor it isn't enough that in some years ship-building business of "Smart" can already come to IPO. Reference point is the London stock exchange.

And on the other hand, "The smart - holding" attentively studies, what assets (including abroad) it will be able to strengthen the ship-building direction. However, purchase business in this case - not dogma. Development is possible and through cooperation - options of cooperation with leading South Korean shipbuilders (though can be and other options) are noted.

Now in ship-building subholding there is a solution of essential tasks. And the part from them is already solved. So, the subholding as a whole already left a stage of ship repair and actively is engaged directly in a vessel construction, and transition to construction of complete vessels is now carried out. The Kherson shipbuilding plant already created a portfolio of orders for 2009 and the first quarter 2010-го.

Is, however, and problems. For the present aren't lowered to potentially possible level of expense - and it would allow to lift profitability significantly.Still management at the Black Sea shipbuilding plant isn't adjusted - and for the solution of this task the team came to it with HSZ. The model of effective management of all subholding, including financial, will be built on the basis of its management company.

Despite a row still unresolved problems, the management of ship-building subholding of "Smart" nevertheless surely looks forward, counting in many respects on growth of world demand on a number of classes of sea vessels, on cooperation, from orders before cooperation, with leading world shipbuilding companies. Well, introduction into structure of the Ukrainian export of a bigger share of technological production - business for the country important. It would be quite good that to it attended also the power, and not just the large capital which is actively reviving now ship-building branch.


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