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Romania's TTS launches logistics project enhancing Ukrainian exports

Romania's TTS launches logistics project enhancing Ukrainian exports TTS Operator works in Constanta Port Source: TTS Group FB page

BUCHAREST (Romania), July 4 (SeeNews) - Romanian freight forwarder Transport Trade Services [BSE:TTS] said on Monday it has inaugurated a logistics project dedicated to Ukrainian exports.

The project ensures a significant increase of Ukrainian freight flows from Reni and Ismail ports via the Danube-Black Sea canal to Constanta port, TTS said in a filing to the Bucharest Stock Exchange, BVB.

This is possible by using the TTS buoy terminal in the inner harbour of the port of Constanta, where goods are transshipped directly from barges to seagoing vessels using floating cranes.

"After more than a month of intensive logistical training carried out by TTS together with its Ukrainian partner, a producer and exporter of agricultural products, the first seagoing ship with a capacity of 31,000 tonnes anchored on July 2; the transshipment for the first wheat convoy is already accomplished," TTS said.

TTS, founded in 1997, is the parent company of TTS Group, a provider of integrated logistics services on the Danube. The group is active in nine countries in freight forwarding, inland waterway transport, port operations, as well as other related activities, covering over 100 ports and port terminals.

As at 1442 CET on Monday, TTS shares traded 1.75% higher at 9.82 lei ($2.07/1.99 euro) on the BVB.

Earlier this month, TTS announced it will receive EU co-financing for a 23.88 million lei investment to modernize the infrastructure of the Danube river port of Giurgiu.

(1 euro=4.9448 lei)