Freight results of LDz Cargo, subsidiary of Latvijas dzelzceļš (LDz) in January are better than expected. The volume of cargos has decreased only by 6% despite the most optimistic forecast of 10% fall.
In the first month of this year LDz Cargo has carried in total 4.59 million tons of freight, which is 6% less than in January 2009. The volume of domestic and export rail transportations grew by 2.1% and 40.1%, respectively, showing positive tendency. In its turn import transportations fell by 7.7% comparing to January 2009.
“Although total freight volume has slightly decreased, the results in January are better than expected, showing stable dynamics of rail freight transportations of LDz Cargo and other rail carriers. We can be glad that Latvian companies start to consider advantages of railway in domestic traffic, and develop their export potential choosing Latvijas dzelzceļš as their partner,” comments LDz Chairman of the Board Uģis Magonis.
In January 2010 there was an increase in transportation of ferrous metals, timber products, grain and flour products by 64.9%, 37.9% and 51.6%, respectively. “Prices of raw materials and other products in world market significantly influence performance of LDz Cargo. Tendency of growing volume of particular product groups influences the company positively, thus, freight results in January have been better than planned,” comments LDz Cargo Ltd Chairman of the Board Guntis Mačs.
The biggest proportion of cargos carried by rail in January 2010: 1.98 million tons of oil products and 1.28 million tons of coal, which is 4.8% and 30.3% less than in January 2009.
LDz Cargo Ltd. is the largest rail freight carrier in the Baltic States and the fifth largest among the EU member states.
Concern Latvijas dzelzce ļš comprises the holding company SJSC Latvijas dzelzceļš and four subsidiaries – LDz Cargo Ltd., a rail freight carrier;LDz infrastruktūra Ltd., a company providing infrastructure construction and maintenance works; LDz ritošā sastāva serviss Ltd., a company providing rolling stock repairs and maintenance works, and LDz Apsardze Ltd., a security company.
Prepared by LDz Public Relations Department.