After leaving the Ukrainian terminal: DP World may join a project with Rosatom
8 April 14:58
The Federal Antimonopoly Service of Russia has approved an agreement to establish a joint venture between Rosatom and the global port operator DP World.
This was reported by the Russian propaganda outlet Izvestia, citing a source close to the parties involved in the deal.
The plan involves creating a joint entity based on the FESCO transport group, which is part of Rosatom.
How the shares will be distributed
Under the preliminary plan:
- the Russian side will retain a controlling stake—51%;
- DP World will receive 49%.
The foreign partner is also expected to invest in the development of container shipping in Russia’s Far East.
The project is currently under review by the Russian government’s commission for foreign investment control, and details have not been officially disclosed.
What is known about the parties to the agreement
DP World
DP World is one of the largest port operators in the world.
The company:
- manages ports, logistics centers, and industrial zones;
- operates in more than 50 countries;
- has a total throughput capacity of over 90 million TEU containers.
FESCO
FESCO controls:
- Vladivostok Commercial Sea Port;
- a fleet of over 30 vessels;
- a container fleet of more than 200,000 TEU.
Focus on the Northern Sea Route
Moscow expects that the partnership will facilitate the development of shipping via the Northern Sea Route.
Russia positions this route as an alternative to maritime transit through the Suez Canal.
According to the Russian side’s plan, the Arctic route could:
- reduce delivery times between Asia and Europe;
- increase container transit;
- strengthen the role of Russian ports in global logistics.
Exit from the Ukrainian terminal
DP World recently sold a 51% stake in the container terminal at the Ukrainian port of Pivdennyi.
The stake was acquired by the Ukrainian logistics group TIS Group, which also regained control of the P&O Maritime Ukraine tugboat business.
