Russia's FESCO sets up subsidiary in Vietnam for container transportation

MOSCOW. Dec 18 (Interfax) - FESCO Transportation Group, the flagship of which is the Far Eastern Shipping Company (FESCO) , has opened a subsidiary enterprise in Vietnam to develop maritime and intermodal container transportation in Southeast Asian countries, the company said.

DBF Logistics Vietnam will ensure the smooth operation and development of the group's services in Vietnam, including the regular FESCO Vietnam Direct Line which connects Vladivostok with the ports of Haiphong and Ho Chi Minh City, as well as the direct FESCO Intra Asia Service between Ho Chi Minh City and Port Klang in Malaysia.

The subsidiary has two offices in Ho Chi Minh City and Haiphong, as well as a commercial representative office in the Vietnamese capital, Hanoi.

"The opening of a subsidiary in Vietnam is part of FESCO's strategy to expand its presence in the growing Southeast Asian transportation market and overall in the countries of the Global South. This direction is one of the key [areas] for the development of our group," the vice president for FESCO's line and logistics division German Maslov was quoted as saying.

FESCO, which is under the Rosatom state corporation's control, owns assets in the port, railway and integrated logistics business. FESCO owns PJSC Commercial Port of Vladivostok , the Fesco Integrated Transport intermodal operator, the Dalreftrans refrigerated container operator, as well as the Transgarant and Fesco Trans companies.

The group manages terminal complexes in Novosibirsk, Khabarovsk, Tomsk and Vladivostok. It oversees a container fleet of more than 180,000 TEU and nearly 15,000 flatcars. Its fleet includes over 30 vessels which primarily operate on its own shipping lines. In November 2023, a 92.5% controlling stake in FESCO was transferred to Rosatom by presidential decree.