Far East Shipping Company
||It has been suggested that this article be merged into Fesco Transport Group. (Discuss) Proposed since October 2012.|
|Open Joint Stock Company|
|Traded as||MCX: FESH|
The Far-Eastern Shipping Company (FESCO; Russian: Дальневосточное морское пароходство, tr. Dal'nevostochnoye morskoye parokhodstvo) is a Russian ship-owning company and the base company of FESCO Group. Founded in the 19th century in Vladivostok.
On 13 December 2012, Summa Group and GHP Group indirectly acquired 49.99 % and 23.75 % of the shares of FESCO, respectively. The acquisition was funded by a mixture of debt and equity. In December 2012, TPG joined in Summa Group's investment in FESCO, as a result of which TPG has certain rights in respect of oversight of the FESCO business and an indirect economic ownership interest of 17.5 % in the Group.
FESCO is publicly traded as MCX: FESH. Current shareholding structure is: Mr. Magomedov (the controlling shareholder of Summa Group) - 32.5 %; entities controlled by Mr. Garber (is one of the controlling shareholders of GHP Group) - 23.8 %, TPG - 17.4 %, other shareholders/Free float - 26.3 %. The Chairman of the Executive Board of FESCO Transportation Group is Alexander Vinokurov, the President is Ruslan Alikhanov.
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 controls the Commercial Port of Vladivostok, which has throughput capacity of 3.9 million tons for general cargo and oil products, 150,000 vehicles and over 600,000 TEU in containers. FESCO is one of Russia’s top 10 private railcar operators providing services under the Transgarant (100%) and Russkaya Troika (50% JV with Russian Railways) brands. The Group owns a fleet of vessels mostly deployed through own line and logistics operations. In 2012, revenue of FESCO Group reached USD 1,197 million.
Icebreaker Kapitan Khlebnikov
- MV Lyubov Orlova - ghost ship formerly owned by FESC.
- "Far Eastern Shipping Co". Bloomberg. Retrieved 4 April 2013.