FESCO Transport Group has posted its key operational and financial results for H1 2023.
Commercial Port of Vladivostok, part of the Group, handled 43 thousand TEU during January-June 2023, up 24% year-on-year. General cargo and oil products handling declined by 24% down to 2.3 mn tons.
Intermodal freight traffic was up 25% to 305.7 thousand TEU due to increasing the Group’s container and fitting platform fleets, expanding the geographic scope of services and launching new train services from Vladivostok and St. Petersburg to Chelyabinsk, Krasnoyarsk and Irkutsk.
International sea freight grew by 30% to 198.6 thousand TEU, cabotage traffic increased by 17% to 49.2 thousand TEU.
Despite the declining freight rates, the Group’s revenue increased 9% year-on-year to make 91.7 bn rubles ($981.75 mn). EBITDA was down 7% to 35.3 bn rubles ($377.9 mn).
Photo: FESCO