TransContainer starts South Korean service
TransContainer, a subsidiary of the Russian Railway, has started service in South Korea to develop new container traffic routes to Russian regions and eastern and western European markets.
'The Russian market offers enormous interest in terms of business development for South Korean companies, whose capital investment in the Russian economy runs into billions of dollars,' said TransContainer General Director Pyotr Baskakov, in a statement.
He noted the traditional way of delivering cargo from South Korea to the central regions of Russia involves substantial time delays and financial setbacks. Cargo owners mostly use sea transport to deliver goods from South Korea to European ports, from where they are delivered by road to recipients in Russia.
'The creation of the subsidiary TransContainer Asia Pacific Ltd. will provide a new impulse to the development of container cargo route from South Korean ports by sea to the Far East ports of Russia, and then via rail into Russia,' Baskakov said. 'The timeframes for delivering cargo will be reduced by 20-25 days compared to traditional sea transport. Moreover, there will be no need to use international trucking companies. Our route is also attractive to cargo owners in financial terms.'