FESCO launches LCL service from China to Russia

17 April Interfax
Far East Shipping company (FESCO) (MOEX: FESH), the parent company of the FESCO Transport Group, is beginning regular service for shipment of less than a container load (LCL) from China to Russia, the company said in a statement.

The LCL shipments will be made weekly on the basis of existing FESCO services via PJSC Vladivostok Commercial Sea Port (MOEX: VMTP), a FESCO company.

The service covers shipment of LCL from warehouse to warehouse, delivery by sea, rail and truck, customs formalities, insurance, storage and shipment tracking. The minimum cargo volume is 50 kg.

The LCL service provides a substantial reduction in the cost of shipment, since small lots of goods from several clients can be shipped in the same container, at a cost proportional to the space they occupy.

FESCO Group is one of the largest owners and operators of port infrastructure in Russia. It is an intermodal operator that manages marine, railway, and automobile transport capacities and stevedoring services at its own terminals at Russian and CIS ports. Ziyavudin Magomedov's Summa Group owns 32.5% of FESCO, GHP Group owns 23.8%, TPG holds 17.4% and East Capital owns 4.9%.

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