Return to double-digit spot rate gains looms with new FAK hikes and surcharges
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GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
MSC has announced a binding agreement to buy a 50% stake in Italian high-speed passenger rail network Italo, from infrastructure investment fund Global Infrastructure Partners (GIP)
The deal represents further deepening of the relationship between the world’s largest shipping line and GIP, which has a 20% stake in MSC’s port operating arm, Terminal Investment.
Gip will retain its 50% interest in Italo and have joint governance with MSC, along with Allianz Group entities and funds managed by Allianz Capital Partners and other co-investors.
“We strongly believe in the potential of Italo to further strengthen rail connectivity across Italy. Furthermore, today’s agreement also reflects our group’s goal of further developing sustainable modes of transport for both passengers and cargo,” said MSC group president Diego Aponte.
“This aligns with Italy’s efforts to enhance its infrastructure network through new projects outlined in the National Recovery and Resilience Plan to extend high-speed rail services to areas that currently lack access,” he added.
While it is unlikely that this would see containers on Italo wagons – imagine a 44-tonne steel box travelling at over 100kph! – there is an argument that putting more passengers onto high-speed rail services will unlock capacity on traditional rail lines for more freight.
Italo is one of Europe’s leading private high-speed rail operators. Since its launch in 2012, it has grown to operate a fleet of 51 energy-efficient electric trains connecting 51 cities across Italy and serving over 20m passengers a year.
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