21 Sep 2023 19:16

FESCO interested in Latin America transport and logistics hub project

ST. PETERSBURG. Sept 21 (Interfax) - The FESCO transport group, whose parent company is PJSC Far Eastern Shipping Company , is discussing the possible creation of a transport and logistics hub in Latin America, Chairman of the Board of Directors of FESCO Andrey Severilov told reporters on the sidelines of the Neva-2023 international exhibition and conference in St. Petersburg.

"Yes, we are discussing this possibility with the Ministry of Industry and Trade. Russian companies need support in the region, and FESCO needs new markets," Severilov said.

After the Russia-Africa forum, a decision was made to create two hubs in East Africa and Egypt, he said. "There is an idea, as I understand it, to do the same in Latin America. We are potentially interested in this," he said.

FESCO previously considered launching a "banana" service from Ecuador to the ports of northwestern Russia. "We also continue to be interested in the project for the export of goods from Latin America, primarily bananas. My colleagues and I may have now found a potential return cargo, Severilov said.

The FESCO transport group is a large Russian port operator with railway and logistics businesses. The company manages a container fleet with a capacity of over 150,000 TEU and over 10,000 flatbed cars. The group's fleet includes more than 30 vessels, operated primarily on its own shipping lines.