Key developments

FESCO improved its key operating indicators, in particular, reached an all-time high cargo handling volume of 13.3 million tonnes at VMTP, including a record container handling of 757 thousand TEU.

FESCO refinanced its debt to VTB Bank with regular annual repayments until 2027 and changed the currency composition of the debt in favour of roubles.

In the result of improved operational and financial performance, Fitch Ratings upgraded FESCO’s long-term credit rating from CCC to B+ with a stable outlook.

FESCO launched new intermodal transit and rail domestic services, including:

• FESCO Chita Shuttle from Moscow to Chita;
• FESCO Neva Baikal Shuttle from St Petersburg to Irkutsk;
• FESCO Rostov Shuttle from Vladivostok to Rostov-on-Don.

FESCO increased the number of containers it operates to a record value of 109 thousand TEU.

FESCO continued building up its supply chain management in 3PL and 4PL segments, having significantly grown its order portfolio.

FESCO acquired three new vessels: FESCO Olga multi-purpose vessel, FESCO Yanina and FESCO Sofia container vessels.

As part of the terminal network development, FESCO acquired Gaydamak Port in Vladivostok to build grain-handling facilities, including elevators.

FESCO has entered into a new five-year agreement with the National Centre for Polar and Ocean Research under the Ministry of Earth Sciences of India to provide supplies to the Indian research stations in Antarctica.

FESCO joined the Eurasian Union of Rail Freight Transport Participants, the association of Russia’s major container operators.