FESCO to spend US$500 million on new vessels

2008-4-4

The FESCO Transport Group, a logistics operator involved in sea, road and rail freight in Russia and the CIS, plans to purchase seven containerships.

Three of the vessels will be constructed at the Szczecin shipyard in Poland with a capacity of 1,730 TEU and the other four vessels of 3,091 TEU each.

The new ships will raise FESCO's container capacity to 43,000 TEU once they begin operation, a report by dars.ru, the Russian Transport Daily said.

It said the newbuilding order is part of a plan by the group to invest US$500 million in a fleet expansion programme over the next three years.

Source: Schednet
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