FESCO 1H 2011 Operational results: 46% YoY boost on container liner trade.

15 July 2011
FESCO Transportation Group (RTS/MICEX: FESH/FESHG) publishes its operational results for the first 6 months of 2011.

The best performance was demonstrated by the Group’s container business. Container sea trade in 1H 2011 saw a significant 46% increase to reach 214,000 TEUs compared to 146,000 TEUs in 1H 2010.

Rail container volumes were 116,000 TEUs, or 24% higher than in the previous year.

The volumes of freight forwarding and intermodal services grew more than 1.5-fold, with the total of 91,000 TEUs, versus 54,000 TEUs achieved in the first six months of 2010.

Vladivostok Container Terminal (VCT) handled in 1H in total about 140,000 TEUs, compared to 134,000 TEUs the year before. Vladivostok Commercial Sea Port (VMTP) handled 3 mln 132 thousand tons, a 7,3% decrease over 6 months 2010. VMTP’s proper container handling volumes (besides VCT) however grew to reach 55,500 TEUs.

Non-container rail loading volumes of FESCO Rail Business unit (Transgarant Group) in January-June 2011 reached 12.8 mln tons, with cargo turnover of 17.3 bln ton-kilometers, growing year-on-year by 4% and 1% respectively on virtually the same railcar fleet.

«We are happy with our operational performance in the first half of 2011. The impressive growth of container business volumes is a clear sign of steady recovery of the Russian economy and domestic consumption levels. At the same time, this is in many ways the result of FESCO team’s coordinated efforts to promote integrated container solutions”, said Sergey Generalov, FESCO President and CEO.