The European Commission has found that a loan of €166m granted by Slovakia to ZSSK Cargo does not involve state aid within the meaning of EU rules. The Commission concluded that the state had behaved as a market investor would have in similar circumstances, and thus provided no selective economic advantage to ZSSK Cargo. The Commission said there were similar indicative bank offers made at the same time; the interest charged was broadly in-line with rates paid by companies in a comparable financial situation; and the loan was granted based on a study showing that ZSSK Cargo would be able to reimburse the loan, and proposing restructuring measures that would restore the viability of the company.
Canadian Pacific Railway has announced Q2 revenues of C$1·75bn, an increase of 7% from last year. Revenue tonne-km increased 4% and carloads 2%. Operating ratio was 64·2, an increase of 140 basis points compared to last year's restated operating ratio of 62·8. ‘Overall, it was a good quarter that sets the franchise up well for the remainder of 2018 and beyond‘, said President & CEO Keith Creel.
Union Pacific Corp has reported Q2 2018 net income of US$1·5bn, a second quarter record US$1·98 per diluted share. This compares to US$1·2bn, or US$1·45 per diluted share in Q2 2017. Operating revenue of $5·7bn was up 8% and carloads 4% year-on-year, with volume increases in industrial and premium goods more than offsetting declines in agricultural products and energy. The operating ratio increased 1·1 points to 63·0. ‘Overall, I am pleased with the effort put forth by the entire Union Pacific team, however, I recognise the results could have been better’, said Chairman, President & CEO Lance Fritz on July 19.
Property company Harworth Group has submitted an outline planning application for the development of a ‘rail-connected hub serving the North of England’ on the site of a former Gascoigne Wood colliery in North Yorkshire. This would include the existing 124-acre Sherburn Rail Freight Terminal. ‘The site represents a great opportunity for Selby to leverage its unique locational advantages to create thousands of new rail-connected jobs’, said Tim Love, Director of Strategic Land at Harworth.
Transforwarding has completed a project to deliver 16 Sinara Transport Machines TGM8KM locomotives in two shipments from St Petersburg in Russia to Hai Phong port in the Cuban capital Habana. The locos will be used by Antillana de Acero to haul sugar, gas and containers as part of the Cuban government’s infrastructure development plans.
EBRD is planning to arrange a loan of up to US$30m to support Railport Terminal Isletmeleri with the development of a US$86m inland intermodal logistics terminal in the Kocaeli area of Turkey which would handle domestic and Asia- Europe fright. RTI is owned 66:34 by Turkish port and terminal operator Limar Liman ve Gemi Isletmeleri and Duisburger Hafen AG of Germany.
South Africa’s Transnet Port Terminals has taken over from SAFreight Logistics as the operator of a manganese handling facility at Lohatlha.
On July 18 the TransContainer board approve the establishment of a container transport subsidiary in Mongolia.
A train left Kostanay in Kazakhstan on July 18 with more than 50 wagons carrying 3 300 tonnes of flour for Afghanistan. The trains was scheduled to travel 2 500 km via Bolashak to Serhetabat on the Turkmenistan-Afghanistan border. 'The development of transportation along the new route will increase the transit potential of Kazakhstan, reduce turnover and accelerate the return of rolling stock', said Mukhtar Zhambulov, Deputy General Director for Operations at KTZ-Freight Transportation.