5 Dec 2023 16:06

FESCO to increase presence in Vietnamese market, opening office in Ho Chi Minh City

MOSCOW. Dec 5 (Interfax) - The FESCO transport group (whose parent company is PJSC Far Eastern Shipping Company ) is expanding its Vietnamese business and increasing its presence in the container transportation market between Russia and Southeast Asia (SEA), and has recently announced the opening of its office in Ho Chi Minh City, Vietnam, the company said.

The group agreed to expand cooperation in the field of container transportation between Russia and Southeast Asia with the SP-ITC sea container terminal (Ho Chi Minh City port). The parties intend to increase container shipments through the SP-ITC terminal both from Vietnam and from Thailand, Malaysia, Myanmar and other countries in the region, as well as back to Southeast Asia from Russia, the announcement said.

FESCO and SP-ITC started working together in the spring of 2022, when a regular sea line was launched connecting Vladivostok with ports in Vietnam. The service currently serves three of the group's container ships, and frequency of shipments has increased from monthly to weekly.

Since the launch of the line, FESCO has already transported more than 30,000 TEU between Russia and Vietnam, of which import cargo is about 16,500 TEU, and export 13,500 TEU. In addition, FESCO organized a regional hub at the terminal for the transshipment of containers, which are delivered by feeder lines from various Southeast Asian countries for further shipment to Russia.

The FESCO transport group owns assets in the port, railway and integrated logistics business. FESCO owns the Vladivostok Sea Trade Port , the intermodal operator Fesco Integrated Transport, the operator of refrigerated containers Dalreftrans, as well as the companies Transgarant and Fesco Trans. The group operates terminal complexes in Novosibirsk, Khabarovsk, Tomsk and Vladivostok. It manages a container fleet of more than 170,000 TEU in capacity, and a fleet of over 11,000 flatbed railcars. The group's fleet comprises 35 vessels, operated mainly on its own shipping lines.