China’s Goto Shipping has sold two cargo ships to FESCO amid fears from the West that Turkey and the UAE are the main offenders aiding Russia in evading sanctions, as reported by The Loadstar.
Is it profitable?
The 2,471 teu Kapitan Shchetinina, which will join the maxi-Bangkokmax Moskva on a route connecting St. Petersburg to the Chinese ports of Rizhao, Lianyungang, Ningbo, Shanghai, and Yantian, was delivered to the Russian vessel operator this week, according to Alphaliner.
The service, which is run solely by these two ships, offers monthly sailings. According to Alphaliner, such a small-scale long-haul operation would scarcely be profitable under “normal” conditions.
The analyst continued, “But sanctions and embargoes on Russia have changed the fundamentals, pushing importers to choose alternative solutions.”
A good business opportunity
A month ago, the UK Financial Times reported that Turkey, the UAE, and Central Asian nations were thought to be the main offenders in the sanctions-busting scandal.
The Loadstar reported this week that a Turkish forwarder saw a “good business opportunity” in the situation in Russia, and Southwind Airlines was founded last year to promote aerial trade between the two nations.
A growth in trade along the International North-South Trade Corridor, which connects Bandar Abbas in Iran and Mumbai in India via Central Asia, is strengthening connections to and from Russia.
The two new FESCO vessels will add another connection, boosting the cargo volume even more. There are only 15 ships of this type in the entire world fleet, and they are the largest Bangkokmax vessels. They were created by the Chinese CIMC Design and Research Institute.
Did you subscribe to our newsletter?
It’s free! Click here to subscribe!
Source: The Loadstar
