Vostochny International Container Services Reports Growth

Volume growth at Vostochny International Container Services (VICS) increased by 48 percent in the first half of 2003. Under the successful joint operating management of CSX World Terminals (CSXWT) and P&O Ports since 1995, the increase in volume is in addition to growth of 145 percent since 1999. Strategically located at the Pacific terminus of the Trans Siberian Railway connecting the Far East to western Russia, CIS, Central Asia and Northern Europe, VICS is Russia's most efficient container terminal. Recent improvements to the Trans Siberian Land Bridge's (TSLB) infrastructure and systems by the Russian Transport and Railway Ministry ensure future growth will continue. "As Russia's Pacific gateway to the Tran Siberian Railway, we must always stay ahead of the region's growing economic demands," said VICS CEO Michal Frydrych. "Already this year we've seen Russia's gross domestic product jump seven percent. In order for us to succeed in today's world market, we as a terminal operator must be dedicated to outstanding quality service." In a joint statement, Alherd Kazura, vice president finance for CSXWT and Bryan Smith, executive director for P&O Ports, commented, "Applying international best practices has increased productivity levels, attracted new cargoes and shipping companies, and diversified the port's service options. Working with Michal Frydrych and the VICS staff enables VICS to improve service to new levels of performance and to keep ahead of the market demand. We are very proud of VICS' recent accomplishments."