Type Group of companies Industry Transportation Operating income Founded 1880 | Traded as MCX: FESH Revenue US$ 800.6 mln (2010) Headquarters Russia Number of employees 5,000 | |
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Key people Ruslan Alikhanov (President & CEO) Stock price FESH (MCX) RUB 3.30 -0.03 (-1.02%)10 Mar, 6:45 PM GMT+3 - Disclaimer Subsidiaries Dexter Air Taxi, Jsc Transcontainer-slovakia | ||
FESCO Transportation Group (Russian: Fesco, FESCO Group) is the largest intermodal transport operator in Russia, which provides services, including marine shipping, rail transportation and port handling via more than 70 sales offices located around the world. The base company of FESCO Group is FESCO Shipping Company. FESCO Group is headquartered in Moscow.
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Share capital and management
The base company of the group is the Far-Eastern Shipping Company (FESCO; Russian: Дальневосточное морское пароходство, tr. Dal'nevostochnoye morskoye parokhodstvo). The company was founded in Vladivostok during the nineteenth century.
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.
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.
Business description
FESCO Group has four operational divisions: Shipping, Liner and Logistics, Rail Services and Ports.
Shipping. The Shipping Division is involved in ship ownership, ship management, chartering out and provision of vessel agency services. The vessels operated by the Shipping Division are largely container, bulk carriers and Ro-Ro vessels. FESCO owns a fleet of 50 vessels, totaling 880 thsd DWT, including 25 containerships and 12 bulkers
Liner and Logistics. The "Liner and Logistics" Division operates sea liner services and provides freight forwarding, sea, intermodal, rail and trucking services both for containers and break-bulk cargoes. The Marine transportations are carried out on a cabotage and import-export basis
The capacity of port container and break-bulk facilities in Russian Far East totals 430,000 TEU and 5 mln tons respectively. FESCO also has at its disposal inland terminal facilities in Khabarovsk and launched a new container terminal project in Moscow region, which is now under construction
Rail Services. FESCO Group operates over 19,000 units of diversified rolling stock. The Rail Division provides services both as an operator of railcars and rail agent. When acting as an operator, it renders transportation services for containerized and bulk cargoes using both locomotives and rail cars of various types owned or leased by the Rail Division.
Ports. The Ports Division owns and operates port facilities and container terminals in Russia and provides stevedoring, storage and other related port services and facilities. One of the core assets of the Group is Vladivostok port (VMTP), which is an important transportation hub in the Russian Pacific coast. FESCO has full operational and strategic control over VMTP, and intends to fully consolidate the ownership before the end of 2011.
Operational and financial highlights
For the period of January–September 2011, FESCO bilateral sea container trade reached 282,359 TEU. At the same time, domestic sea container trade volume amounted to 45,830 TEU and intermodal transportation rose to 52,269 TEU. As of 9M2011 rail container volumes amounted to 185,788 TEU.
In 2010, FESCO consolidated revenue amounted to $800.6mln, operating profit stood at $256.4mln, while net profit reached $455.9mln.