The share of investments of the FSA participants in the renewal of the fleet exceeded 60%

March 1st, 2023

The FOR Group companies became members of the Fishery Shipowners Association (FSA).

The FOR Group operates in the Northern Fisheries Basin and in the conventional areas of the world's oceans, fishes in the Atlantic Ocean and the Barents Sea, annually providing about 170 thousand tons of aquatic biological resources. For the FOR Group, under the investment quota program, a series of three processor trawlers with a length of over 80 meters is being built, the first of which was handed over to the customer in early February of this year. With the commissioning of the new vessel, the current fleet is 14 large and medium-sized vessels.

“Our association brings together the largest investors in the construction of the Russian fishing fleet, among which is the FOR Group. Taking into account the group's projects, the investments of FSA participants exceed 60% of the all-Russian investments under the investment quota program. We welcome the new member and are ready to work together to improve the efficiency and sustainability of the fishery,” commented Alexei Osintsev, President of the FSA.

“The FOR Group is focused on long-term development, including through the construction of new vessels that replace obsolete facilities. With the support of the FSA, we intend to promote initiatives that stimulate investment in the industry, work to remove barriers to its intensive and sustainable development, based on the common interests of all members of the fishing community,” said Pavel Balon, General Director of the MC FOR LLC.