Russia’s United Grain Company (UGC) is also involved in the cooperation,which will see an initial 100,000 tons transported in the first phase.

This could increase to 5m tons to countries like Japan,South Korea, China, and Taiwan.

A new grain terminal is planned at Zarubino.

Fesco has been reducing its dry cargo fleet to focus onboxships, but still has eight bulkers, including four modern supramaxes.

It