FESCO Transportation Group (“FESCO”, the “Group”) and Intership Navigation (member of Hartmann Group) have agreed to cooperate in the technical management of vessels. The agreement was signed by the parties at the International Economic Forum in St. Petersburg.According to the agreement, FESCO is planning to use the experiences and competence of Hartmann Group to perform the dock and general repairs and further maintenance of the Group’s vessels. Moreover, the parties are planning to cooperate in the realm of vessel acquisition.
“Our cooperation with Hartmann Group will allow us to conduct the maintenance of FESCO’s fleet therewith reducing the usage of our own resources on the one hand, and to actively work on investment projects for the development of FESCO’s maritime division on the other hand. We are indeed very glad to partner with Hartmann Group on such mutually advantageous terms, and we hope that our cooperation will help us to react to the market’s needs and introduce new products and services even faster,” noted Arkady Korostelev, President of FESCO Group.