Two of Russia’s biggest container transport providers, Fesco and Transcontainer are planning to merge their businesses in a bid to move cargo between the docks and hinterland, and thereby provide benefits to both entities.
According to the Journal of Commerce, a 24.1% stake in Transcontainer is currently owned by Fesco.
Russian financial conglomerate, the Summa Group currently own a 32.5% stake in Fesco, with Russian rail company RZD owning a 51% stake in Transcontainer.
Read a Technical Paper by Dr Daria Gritsenko, Researcher at the University of Helsinki on LNG facilities in the Baltic region.
Both companies are said to be in talks to merge, which is anticipated to complete by 2016.
Transcontainer recently saw its revenue slipping by 1.8% year-over-year to $150 million, with year-over-year profit declining in H1, 2015 to US$57 million.
As a country, Russia is planning to build an almost $1 billion port between Lithuania, Poland and the Baltic Sea, situated in Kalingrad.
This new port comes amid projections that the Baltic sea region is expecting to see cargo increases of 15% annually until 2018.