Russian Railways cuts cargo handling growth forecast.

By bne IntelliNews February 21, 2013
Russian Railways cuts railway cargo transportation growth from previous 2.4%-2.5% to 0.7% in 2013 due to signs of economic slowdown, head of the company Vladimir Yakunin told the press. He added, however, that these were preliminary expectations and final target will be set in March. Reuters reminds that railway transportation is one of the main indicators of real sector's activity, as most of the cargo is transported this way. As reported this week, industrial output in January 2013 declined by 0.8% y/y, posting y/y decline for the first time in more than three years. Weak industrial output data was confirmed by transportation: it was 0.7% y/y smaller in January, with railroad transportation down by 7.3% y/y, according to RosStat. In 2012 railway transportation went up by 2.4% y/y to 1.27bn tonnes, still below pre-crisis 1.35bn tonnes seen in 2007.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    25 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    30 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss