FESCO threatens court action over

FESCO threatens court action over 'pure calumny'

Russian shipping firm issues strongly worded statement on rumours of takeover and involvement in Moby Dick terminal rumours.

In an official company statement FESCO asserted that it has never considered, discussed or made any public statements whatsoever about its intention to acquire Containerships and/or its container terminal Moby Dick.

Recent Russian press publications about the alleged interest on behalf of FESCO Group to acquire Containerships or its container terminal Moby Dick are purely and solely a guess-work of individual journalists, said the statement, and have no relevance to the company’s plans related to acquisition of new assets.

In its official statement made during FESCO’s Annual Press Conference held in Moscow on April 23, 2007 the company’s senior management disclosed its interest in considering the acquisition of container terminal assets in one of the EU countries.

"It is obvious that Moby Dick container terminal, located in St.-Petersburg region – definitely not a EU territory – could not be meant in such statements." the company said.

The statement went further and included a warning to Containerships:

"All allegations, contained in the statement by Containerships Group’s Managing Director Mr. Sigurjon Markusson about the connection of either FESCO Group or any of its affiliates with the problematic situation around Moby Dick terminal, are absolutely groundless, represent pure calumny and damage the company’s business reputation. FESCO Group management insists upon the immediate official refutation by Containerships of the previously made statement. Shall Containerships fail to do so FESCO intends to seek the defence of its damaged reputation in court."

Earlier Containerships' managing director Sigurjon Markusson, had issued a statement after speculation in some parts of the Russian press:

"We have seen statements from FESCO in the Russian press to the effect that they intend to buy Containerships Group. I would like to emphasize that neither Containerships Group nor Eimskip has had any discussions with FESCO and we have no intention of having any discussions with them".

"Containerships Group is embarked on a strategic growth plan which is already delivering increased volumes across all our trades, and we intend to carry out the plan and stand as a leading independent operator in the Baltic area"

He then went on to speculate "... perhaps the statements by FESCO could be linked as part of pressure to get the investors in what are a successful terminal and a successful line serving Russia to sell out,"

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