FESCO increased international cargo shipping in H1’2023 by 30% to 199 thousand TEU
Container handling at CPV rose by 24%
In the first half of 2023, FESCO Transportation Group increased its international cargo shipping by 30%, year-on-year, to 199 thousand TEU; intermodal transportation – by 25% to 306 thousand tonnes TEU; coastal shipping — by 17% to 49.2 thousand TEU; container handling at Commrcial Port of Vladivostok PJSC (CPV) – by 24% to 430 thousand TEU, according to the group’s report on operational and financial performance in January-July 2023.
The growth of CPV container throughput is explained by the increase of the Group’s own intermodal services and attraction of Asian operators of sea lines. Meanwhile, handling of general cargo and oil products at CPV fell by 24% to 2.3 million tonnes.
The growth of intermodal cargo transportation was driven by the increase of construction equipment and the number of container platforms, expansion of the geographic footprint and launching of new services to Chelyabinsk, Krasnoyarsk and Irkutsk from Vladivostok and Saint-Petersburg.
To expand the geography of transportation, the fleet of the Group was increased with four units including two new ships for deep sea routes. Container fleet managed by the Group was increased to 150 thousand tonnes TEU.
FESCO’s revenue in H1’2023 rose by 9% to RUB 91.7 billion “despite the remaining trend towards freight rates decrease on foreign trade services, due to normalization of supply chains and creation of sufficient level of line equipment in Russia”, says the company.
EBITDA fell by 7% to RUB 35.28 billion, EBITDA margin fell by 7 percent points to 38%. Net debt as of 30 June 2023 compared to 2022 increased from RUB 2.63 billion to RUB 13.34 billion.
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, Vladivostok and Tomsk. FESCO operates over 150,000 containers and about 10,000 container platforms. FESCO’s fleet exceeds 30 vessels deployed primarily on its own sea service lines.
