Korostelev replaced Maxim Sakharov, who was in the role for just about six months. Sakharov will continue as first vice president with the group.

Prior to the appointment, Korostelev was FESCO's Vice President of Commerce and had held many senior positions at LUKoil and Sibur beforehand.

Meanwhile, FESCO's board has agreed to cooperate with consulting firm Alvarez & Marsal on establishing the medium- and long-term plan of the organization.

FESCO based in Vladivostok currently operates a fleet of 19 vessels consisting of six MPP vessels and 13 containerships.

Maritime Business World