The Bankruptcy of the River Shipping Company Marks the Effective Disappearance of belarus’ River Fleet

The bankruptcy proceedings initiated against the state-owned River Shipping Company has formally confirmed that belarus’ national river fleet has effectively ceased to exist. The company, which operated more than 160 motor ships and barges and five ports in the Dnieper-Bug basin, has proved unable to meet even its basic financial obligations.

As of December 1, 2025, the company’s total debt reached 18.5 million belarusian rubles, equivalent to approximately $6.36 million. Of this amount, 9.3 million belarusian rubles (approximately $3.2 million) are already in enforcement proceedings. At this, the company had only 35,000 belarusian rubles, or about $12,000, left in its accounts, which made it impossible to pay salaries to nearly 400 employees and make mandatory payments.

Under the current political and economic conditions, there are no prospects for the revival of the river fleet in belarus. A combination of management decisions, infrastructure losses, and restrictions formed during lukashenko’s rule has led to the destruction of the industry, and its recovery under this regime seems unlikely.