FESCO appoints new president

Russia’s Far Eastern Shipping Company (FESCO) has appointed Arkady Korostelev as the new president of the company, effective from September 4.

Korostelev has replaced Maxim Sakharov, who had only been in the position for about six months. Sakharov will continue with the company as first deputy president.

Prior to the appointment, Korostelev was vice president of commerce at FESCO and he previously served several senior roles at LUKoil and Sibur.

In the meantime, the board of FESCO has decided to cooperate with consulting firm Alvarez & Marsal on the development of the company’s medium and long term strategy.

Vladivostok-based FESCO currently owns a fleet of 19 vessels made up of six MPP vessels and 13 containerships.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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