• 2014 May 30 18:06

    FESCO Q1 revenue slides 11.9% to $242.5 million

    Revenues of FESCO Transportation Group (MOEX: FESH) for the first three month period ended March 31, 2014 declined 11.9% from US$ 275.3 million to US$ 242.5 million. EBITDA dropped by 31.7% to $32.8 million ($48.1), the Group said Friday in its updated report.  

    FESCO Group Highlights:

    • In the short term, the slowdown of economy growth and overall volatile macroeconomic environment caused weakness in the sectors where the Group operates
    • The Group’s revenue declined by 11.9% YoY mostly due to ruble devaluation, which contributed to more than half of the decrease, and continued rail market weakness
    • Significant increase in export volumes in 1Q2014 is seen as a sustained trend for the year
    • The Group’s EBITDA was impacted by mixed divisional profitability and increase in export volumes. EBITDA growth in Port, Bunkering and Shipping Divisions was offset by the results of Rail Division and LLD
    • 1Q2014 Group’s consolidated EBITDA excluding one-offs amounted to $34.5m
    • Despite the market volatility the Group continued to make selective capital investments, mostly in Ports Division, in line with its long term strategy

    About FESCO
    FESCO is one of the leading privately-owned 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. The majority of FESCO’s operations are located in the Russian Far East and the Group benefits from growing trade volumes between Russia and Asian countries.
    FESCO is the leader of container transportation through the Russian Far East via international sea container lines to/from Asian countries, domestic sea container lines and by rail. FESCO is the leading port container operator in the Far East region.
    FESCO controls the Commercial Port of Vladivostok which has throughput capacity of 3.9 million tons of general cargo and oil products, 150,000 vehicles and over 600,000 TEU of containers. In 2013, total container throughput at the Commercial Port of Vladivostok reached 477,000 TEU, including 204,000 TEU of imported cargo.
    FESCO is among the 10 largest Russian private rail operators, providing services under "Transgarant" (100% subsidiary of FESCO) and "Russian Troika" (50% joint venture with JSC Russian Railways) brands. "Transgarant" operates a fleet of 16.1 thousand units of rolling stock, while "Russian Troika" operates a fleet of 1.7 thousand container platforms. FESCO has a fleet of 24 vessels, mostly deployed through own sea service lines, and 4 icebreakers leased under long-term contracts.


2024 April 20

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2024 April 19

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15:40 Port Houston surpasses 1mln TEU mark in Q1 2024
15:29 World's first ammonia dual-fuel Aframaxes to be developed by MISC
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14:06 DNV awards certificates for Fortescue’s dual-fuelled ammonia-powered vessel
13:44 Imoto Lines and Marindows launch next-generation zero-emission container ship project
12:41 The Port of Los Angeles and the Port of Long Beach complete a comprehensive Green and Digital Shipping Corridor study
12:20 Ulsan Port Authority signs MOU with Pacific Environment to decarbonize shipping ports in Singapore
11:50 Cavotec signs USD 5 million shore power order with global shipping company
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2024 April 18

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12:11 Coastal Sustainability Alliance boosts development and adoption of maritime biofuel in Singapore
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11:23 Wartsila cargo handling and fuel gas supply systems selected for three new Very Large Ethane Gas Carriers
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2024 April 17

18:03 Australia and Singapore partner in a $20 million initiative to help reduce emissions in the maritime sector
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17:03 HD Hyundai, Scottish firms to cooperate on offshore wind power
16:16 Hanwha Ocean wins 176.4 bln-won order for 1 LPG carrier
15:46 Maritime Book and Claim System advances pilot study to support first movers in zero-emissions shipping
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14:47 DOF Rederi AS sells PSV Skandi Gamma
14:24 PIL, CCS partner on alternative fuels and onboard carbon capture and storage
13:44 Total volume of bunker fuel sales at the port of Fujairah increases by 25.2% to 700,918 m3 in March 2023
12:11 Eureka Shipping announces construction of new cement carrier for Great Lakes trade
11:32 MOL to adopt new system to increase capacity and improve operational efficiency of car carriers
11:12 GTT receives an order for the tank design of eight new LNG carriers
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2024 April 16

18:04 HD KSOE attains 73% of annual order target in 100 days
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17:06 Navig8 takes delivery of the second of six newbuild MRs with emission reducing technology
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14:13 Asyad Shipping and OQ8 successfully complete first-of-its-kind blended crude oil delivery from Mina Al Fahal to Duqm Refinery
13:54 Hapag-Lloyd unveils its new Strategy 2030
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12:43 Trafigura to commercially deploy Daphne Technology’s PureMetrics on LNG carrier for precise MRV and optimisation of GHG emissions
12:15 All 12 people rescued from fire on board Tanzanian-flagged cargo ship in Singapore waters
11:49 Drydocks World steel cutting ceremony marks start of UK Norfolk Vanguard Offshore Wind Platforms project
11:23 North Pacific Green Corridor Consortium aims to decarbonize transportation corridor between Canada, Japan and South Korea
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09:58 Kalypso Offshore Energy signs LOI with Royal IHC

2024 April 15

18:04 Container shipping costs of S. Korea-EU route surge 40 pct amid Red Sea crisis
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