Efficiency of Governance Model and Ownership Structure of Ukrainian Seaports

The purpose of this study is to examine the differences and efficiency in governance style of public and private owned seaports in Ukraine. Observation and comparative analysis of models of public and private seaports ownership in the Ukrainian context, considering the experience of other countries, conclude that a private ownership model for seaports is more flexible in conditions of modern political and economic transformations in Ukraine. Private seaports have higher levels of investment attraction and better financial results than public seaports. Worldwide experience in port infrastructure privatization demonstrates that seaports governed according to private ownership models are predominantly much more effective than public-owned seaports particularly in style of cooperation with investors and possibility of rapid development due to investment attraction. However, the current Ukrainian legislature predominantly considers seaports as the objects for concession in order to save public ownership of seaports. This investigation attempts to contribute to future studies that relate to an important issue such as efficiency of Ukrainian seaports in global economic development.