FESCO TO ENTER ATLANTIC TRADE

FESCO TO ENTER ATLANTIC TRADE    Far Eastern Shipping Co. will enter the transatlantic container trade for the first time during the first quarter.
   The Vladivostok-based shipping line is finalizing a joint service agreement with fellow Russian non-conference carrier BOLT on the Europe/Canada route.
   BOLT, which currently operates a northern Europe/Montreal service with two 824-TEU vessels, will add a third ship to the operation at the end of January. Morline, the U.K. agent for BOLT, said that FESCO may operate the third ship.
   BOLT had withdrawn one of its three 824-TEU ships from the service last summer, causing the schedule frequency to fall from about once a week to every 10 days. The reinstatement of the third ship will restore the former frequency of seven/eight days.
   For FESCO, the entry into the Atlantic trade represents a moderate expansion move to add to its existing services in the transpacific and U.S./Australasia trades. FESCO recently cut back capacity on the transpacific route.