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New Business
Following the conquest of its local markets, the Far
East Marine Company is seeking to support new forms of business
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| Shelf life: FEMCO is known for
its drilling work off Vietnam |
Nowadays, in the age of globalisation, the attention
of the whole world is trained on transnational companies. However, shipping
activities and the field of carriage by sea still involve a variety of
players. Turning the pages of the professional press, one may notice the
existence of numerous companies in small niches, successfully achieving
their philosophies without pressing towards global markets.
Until recently the Far East Marine Company (FEMCO) was
one of those companies, content working within local markets. Changing
situations and markets, however, have brought about a transformation in
the company, and FEMCO is no longer an ordinary regional shipping company.
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| Out of the ordinary: FEMCO is
no longer an ordinary regional shipping company |
Twenty-five years of growth
Established 25 years ago, FEMCO’s aim was to put into practise the
exploration-drilling programme of the Sakhalin Shelf. The programme consisted
of four jack-up drilling rigs and special supply vessels. The company’s
fleet, along with its goals and vision, have been continually growing
for the last 25 years. Well-known in South-East Asia as the drilling contractor
of the Vietnam Shelf, FEMCO was also able to tap into the Persian Gulf
several years ago. This year FEMCO was the first to support the offshore
drilling rig on the Chukotka Shelf, according to the Schlumberger Company
project.
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| FEMCO’s fleet, goals and
vision have been continually growing for 25 years |
New forms of business
Since the company’s founding it has been constantly seeking to support
new forms of business, including the well-known semi-submersible ship
Transhelf, and palletised timber carrier Anatoly Torchinov – which
still provides transportation from Russia to South-East Asia in spite
of the timber market recession. For three years the company has been engaged
in the transportation of bulk oil cargoes, and therefore has gained much
experience in this area. Additionally, it is worth noting that FEMCO’s
vessel Vikhr-6 provides duty rescue voyages for possible oil spillage
liquidation, and that FEMCO offers agent services in the ports of Sakhalin
Island with the help of its marine agency Sakhalin Shelf-Flot.
Main goals
FEMCO continues to seek new opportunities and the implementation of existing
ones. Its two main goals for the future are:
- the realisation of drilling projects on the shelf of Russian seas;
and
- the transportation of cargoes for the Sakhalin Shelf projects development.
The first goal is included in FEMCO’s long-term development
programme while the latter relates to a short-term project in which it
intends to use Anatoly Torchinov as well as vessels of FEMCO’s joint
project with Workships.
Website: www.femco.ru
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