FESCO Transportation Group (FESCO) and DP World Russia have agreed on strategic cooperation to further develop projects at the Commercial Port of Vladivostok (CPV).
At the initial stage, the parties will create a working group to prepare proposals for effective development and utilisation of capacities of Commercial Port of Vladivostok.
Group Chairman and CEO of DP World Sultan Ahmed Bin Sulayem said DP World supports President Vladimir Putin’s vision for the Northern Sea Route, to which the CEO argued was “one of the last great trading routes in the world to be developed.”
In April 2021 PTI spoke to some of the world’s largest shipping stakeholders on whether the Arctic could be a viable alternative shipping route to the Suez Canal following the Ever Given crisis.
“Opening up an alternative route to the Suez Canal between East and West will increase the resilience of world trade,” Sulayem continued.
“It has great potential to develop economic activity and prosperity in Russia’s far north. It must be done sustainably to protect the pristine waters of the Arctic.”
Andrey Severilov, Chairman of the Board of Directors of FESCO, added, “DP World is one of the largest port operators in the world, cooperation with it will allow to integrate best practices of stevedoring asset management in CPV, which is especially important against the background of growing cargo traffic and the leading role of our port in transportations via the Far East of Russia.
“We expect that joint efforts will not only help develop the existing business, but will also contribute to implementation of strategic transport projects in which FESCO participates,”
