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HomeNewsroomNewsFESCO Transportation Group and Korea Marine Transport Co., Ltd. signed Memorandum of Understanding

FESCO Transportation Group and Korea Marine Transport Co., Ltd. signed Memorandum of Understanding

President of FESCO  Transportation Group R. Alikhanov and President of Korea Marine Transport Co., Ltd. (KMTC) J.S Park have signed Memorandum of Understanding.

The purpose of this Memorandum of Understanding was to determine the main principles of joint work, terms and conditions of long-term cooperation for the time period through 31 December 2016. Commercial Port of Vladivostok, being part of FESCO Transportation Group, will start accommodating KMTC vessels in October 2013.

The Parties have also signed the Contract and Tariff and Service Appendix for rendering stevedoring services and cargo storage in the port. The above documents as well as other terms and conditions of cooperation will be agreed by the parties on a yearly basis.

"Long-term mutually advantageous cooperation between FESCO and KMTC will boost containerized cargo volumes destined to East-West route. We are confident that partnership relations of Russian and Korean transport companies based on their commitment to strictly perform obligations will make it possible to exploit the transit opportunities of our country more efficiently and develop the Russian Far East," said President of FESCO Transportation Group Ruslan Alikhanov.

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