Containers throughput of CPV fell by 5% due to withdrawal of major international line operators from Russian market – FESCO

Aug 29, 2022

In January-June, container handling in Commercial Port of Vladivostok PJSC (CPV, a company of FESCO Transportation Group) fell by 5%, year-on-year, to 345.5 thousand TEU. The decrease is attributed to withdrawal of major international line operators from the Russian market, according to FESCO’s financial and operating report for H1’22.


Handling of general cargo and oil products also fell by 5%, year-on-year, to 3.01 million tonnes. Intermodal transportations  rose by 10% to 244.8 thousand TEU due to development of geography of transportations, increase of container fleet and fitting platforms. International marine transportations also increased by 10%, year-on-year, to 151.1 thousand TEU, coastal shipments ‒ by 9% to 42.1 thousand TEU.


In the reported period, FESCO achieved record traffic volumes of 144 thousand TEU on international lines from countries of Southeast Asia to the Far East. Cumulative increase compared to 2021 is 22%. Total volume of refrigerated cargo transportations amounted to 19 thousand TEU, which is 35% higher than in 2021.


The Group’s revenue surged by 75%, year-on-year, to RUB 84.34 billion, EBITDA ‒ by 125% to RUB 37.96 billion. Net debt as of June 30, 2022 decreased to 9,259 million rubles from 22,942 million rubles as of end of 2021.


The Group’s container fleet in operation has been increased by 3,184 units; the fleet of fitting platforms has been replenished with 1,723 units of 80-ft platforms.


FESCO Transportation Group is one of the leading public transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide door-to-door logistics solutions and control almost all steps of the intermodal transportation value chain. FESCO controls the Commercial Port of Vladivostok, rail operators Transgarant and Dalreftrans, operator of container platforms Russkaya Troyka, dry terminal facilities in Novosibirsk, Khabarovsk and Tomsk. FESCO operates over 100,000 containers and over 10,000 container platforms. FESCO’s fleet numbers 22 vessels deployed primarily on its own sea service lines.


Key shareholders of FESCO with direct or indirect ownership are Andrey Severilov – 23.8% of shares, Mikhail Rabinovich – 26.5%, Ziyavudin Magomedov – 32.5%. About 17% of shares are in free circulation or held by other shareholders.


Source: Port News