How Afex Investments Limited became the offshore gateway for Ukrainian trader Dmitry Kovalenko to lock in discounted state port tariffs

Granova, owned by businessman Dmitry Kovalenko, gained anti-competitive advantages in grain transshipment at Chornomorsk port with the backing of state enterprise director Vyacheslav Bezruk, a former customs officer.

As previously reported, Chornomorsk port signed a cooperation memorandum planning to transship over 1 million tons of grain during the 2025–2026 marketing year.

The transshipment tariff granted to Granova is extremely favorable — four times lower than the market rate. While companies such as Risoil, TBT, and IZT pay around $10 per ton for transshipment, Granova received preferential terms at $2.5 per ton, with the possibility of a further reduction.

Granova Group is owned by the Kovalenko family, which accumulated significant capital through trade in Russian coal with Russian companies. Kovalenko continued purchasing coal from Russian suppliers at least until August 2022. His Swiss company Adelon AG alone bought more than $87 million worth of Russian coal from MelTEK, and more than $100 million in total.

To operate at the port, Dmitry Kovalenko acquired the Kyiv-based company Overfood (formerly Ingrin-Ltd) and re-registered it in Chornomorsk at 14-a Transportna Street, office 614. This took place in mid-2024. Kovalenko designated his son, Daniil Kovalenko, as the beneficiary, renamed the company Granova Logistic, and set its capital at 150,000 hryvnias. Since July this year, the company’s director has been Valentin Valerievich Litvin.

The firm is owned by the Cyprus offshore Afex Investments Limited. According to its official profile, the offshore company was established in 2023 and positions itself as an investor in various emerging sectors in Europe, including window manufacturing and ceramic blocks.