FESCO expands the network of its agents.

14 October 2004
PLC FESCO concluded a deal on purchasing of 49% of shareholdings of “Transorient Shipping Co. Ltd.” which is FESCO general agent on line Vostochny/Vladivostok – South Koreaт ports.

This deal was concluded in accordance with «Strategy of line container service development» approved by FESCO Board of Directors.

FESCO President Evgeniy Ambrosov states that «the deal allows to expand sufficiently our participation in Russian export-import traffic and greatly enforce the position of the shipping company not only on the Korean market, but in Asian-Pacific region in a whole».

The line KSDL is the main container transporter between Korea and Russia. The joint annual volume of container carriage on this line totals 90 thousand TEU.

The next step in development of the network of FESCO agent companies will be establishment of the Agent Company in China. The Shipping Company has already begun the reorganization of its representative office into the full-scale Agent Company, which will begin to work next year.

At the present time FESCO has own Agent Companies in Australia, New Zealand, the USA, Canada, Hong Kong and joint company in Japan besides mentioned above.