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Fesco posts 5.5% lower bunker sales volume in FY2018 on role change

01 Apr 2019

Russian public transportation and logistics firm Fesco Transportation Group recorded lower bunkering volumes in operations during its financial year (FY) ended 31 December, 2018 due to changes in its role.

“The Group's bunkering operations were optimised to reflect the changes in the Bunkering Division's role, which now mainly revolves around providing bunkering services for the Group’s own fleet,” it states.

The 2018 bunkering volumes amounted to 72,400 metric tonnes (mt), down 5.5% decrease from 76,600 mt 2017.

As a result, revenue from bunkering services decreased by 1.9% year on year (YoY) from RUB 1.04 billion (US $16 million) in FY 2017 to RUB 1.02 billion in FY 2018.

Fesco has a fleet of 21 vessels, mostly deployed through own sea service lines, according to information from its website.

Besides operating in the domestic box shipping sector, its vessels transport containers through the Russian Far East via international sea container lines to/from Asian countries.

Photo credit: FESCO
Published: 1 April, 2019

 

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