Far Eastern Shipping Company reduces its own fleet
Far Eastern Shipping Company (FESCO OJSC) reduces its own fleet, the company’s press center refers to the results of the Board meeting.
In December 2012, FESCO sold 21 vessels with aggregate displacement of 622,986 tons. Besides, the Group continues to reduce its own fleet having preserved the focus on servicing the operation of the linear-logistic division and a number of other niche markets.
Aleksandr Vinokurov, President of Summa Group, was elected the Chairman of the Board of Directors. Besides, the meeting approved the audit, staff and remuneration committees.
OJSC Far Eastern Shipping Company is the basic company of FESCO Transportation Group. It specializes in transportation of dry bulk and general cargo. The company’s fleet transports cargo all over the seven seas. Summa and GHP Groups indirectly own 49.99% and 23.75% of FESCO shares.
