P&O Maritime Ukraine at the centre of investigation

The Economic Security Bureau of Ukraine (ESB) is investigating P&O Maritime Ukraine. The reason is alleged tax evasion amounting to 30 million hryvnia.

How the investigation began

A criminal case was opened in December 2023 by the Security Service of Ukraine (SSU). Investigators identified potential tax violations during the import of tugboats. However, in January 2025, the case was transferred The essence of the charges

According to the investigation, company representatives undervalued the cost of the tugboats P&O Balqis (IMO 9517812) and P&O Star (IMO 9517800) during their customs clearance under the "temporary import" regime.

The vessels were brought into Ukraine in 2018 under a bareboat charter agreement – the lease of a vessel without a crew. Their owners are companies based in Dubai (UAE), while the lessee is the Ukrainian limited liability company "P and O Maritime Ukraine".

The initial valuation of the tugboats was US$1.195 million per unit, but a new expert assessment in June 2023 showed that their actual value was three times higher – US$3.2 million. As a result, the state failed to collect 30 million hryvnia in taxes.

Who is behind P&O Maritime Ukraine

P&O Maritime Ukraine is a subsidiary of P&O Maritime, which is part of the global holding DP World (UAE). In 2018, it acquired the Ukrainian tugboat company LB Shipping, which subsequently changed its name to P&O Maritime Ukraine.

The deal was carried out with the participation of investment company SD Capital, founded by Andrei Stavnytsier and Philip Grushko. Among the founders was also Yehor Hrebennikov, Stavnytsier's brother, although both brothers later withdrew from the ownership structure.

Persons involved in the case

The investigation also involved Mikhail Sokolov – the former head of the Odesa branch of the Administration of Marine Ports of Ukraine (AMP), who currently heads P&O Maritime Ukraine. According to the investigation, he is one of the suspects in the case.