MOL, FESCO liquidate agency, but start one with new name

RUSSIA's Far East Shipping Company (FESCO) has announced that is liquidated its joint venture company, the United Orient Shipping & Agency Co, it ran with MOL and Azuma Shipping, but has started a new one under a different name with the same partners.

The Trans-Russia Agency Japan is the new company, according to the Russian Transport Daily Report. It is a joint venture in which FESCO, which owns 50 per cent, MOL, 30 per cent and Azuma Shipping, 20 per cent. The decision to liquidate United Orient Shipping & Agency Co Ltd was taken on March 25.

Source: Transportweekly