The company was re-established on 13 June 1922 as Black Sea - Azov Sea Shipping by the Council of Labour and Defence as part of the People's Commissariat of Communication Routes and administered by the Central Administration of State Merchant Fleet (Gostorgflot).
With the fall of the Soviet Union, the company was passed from the Ministry of Sea Fleet of the Soviet Union as a state company of Ukraine and later registered with the State Property Fund of Ukraine.
On 13 August 1993, President Leonid Kravchuk issued the Decree #303,[1] creating the state conglomeration "Blasko" based on "Black Sea Shipping Company".
Speaking in 2013, Kravchuk accepted his blame for decisions leading to ruining of the "Black Sea Shipping Company".
And most of tonnage of cargо passed via Constellation of the Black Sea basin - Odessa, Chornomorsk, Yuzhne ports.