Русский
Rosatom CEO Alexei Likhachev has stated that its subsidiary FESCO transport group will form an alliance with the United Arab Emirates’ DP World, the Emirates largest port operator. He was speaking at the International Transport and Logistics Forum.
Likachev said that “We are creating this alliance with DP World, with them participating in developing the Northern Sea Route (NSR), we well as the Trans-Arctic Transport Corridor. This is a significant addition to their business. We receive not only investment, but also port technologies and the efficient operation of stevedores, which should allow us to reach a new level.”
Rosatom and DP World agreed to establish a new joint venture, last month, which would include the FESCO Transportation Group. Parties to the deal include Rosatom subsidiary Global Logistics LLC, DP World Russia FZE, and PJSC Far East Shipping Company (FESCO), FESCO’s parent company.
Rosatom confirmed to the publication that they had filed a petition with the FAS and agreed on the key parameters of the future agreement. The agreement envisages establishing a joint venture based on Global Logistics, in which the Russian side would hold a 51% stake. Rosatom’s contribution will be FESCO – the state corporation owns 92.5% of the shares of the group’s parent company, PJSC FESCO – while DP World’s contribution will be in cash. The Russian government commission overseeing foreign investment must approve the deal.
Rosatom will offer its entire stake in FESCO as its contribution to the joint venture. Rosatom said that “The amount of DP World’s contribution will correspond to the market value of the FESCO shareholding, as determined by an independent appraiser.”
Owned by the UAE government, DP World is one of the world’s largest port operators, managing over 60 terminals. The company manages major ports, terminals, industrial parks, and logistics and economic hubs with combined throughput capacity of over 90 million TEU containers.
FESCO is an intermodal transport operator, offering a full range of logistics services, which include marine shipping and roll-on/roll-off vessel services, rail and road transport for domestic and international cargo, port operations and container terminal services, integrated logistics solutions, including warehousing and door-to-door delivery, bunkering and vessel operation support.
The company focuses heavily on the Russian Far East, leveraging its position to facilitate trade between Russia and Asia. Key port assets include Vladivostok Port, with an annual cargo throughput of 13 million tons and over 878,000 TEU of containerized cargo. FESCO also operates container terminal complexes in Vladivostok, Novosibirsk, Khabarovsk, and Tomsk, along with management of the Kaliningrad Sea Fishing Port. Its fleet includes over 30 transport vessels, more than 350 trucks, and 15,000 fitting platforms. The alliance emphasises the fact that global logistics dynamics are rapidly changing on a massive scale, both as a result of sanctions and global conflicts such as Iran. The FESCO-DP World alliance will create an Asia-Eurasian behemoth dwarfing any other global operator. To compare, Denmark’s Maersk, one of the world’s largest shipping companies, own 4.1 million TEU yet are avoiding Russian ports due to sanctions.
