Russian shipper demand for rail freight services keeps rates on the rails
Russian shippers’ demand for rail services has prevented a collapse of China-Europe rates as Chinese ...
December 15, 2021
Russian Railways Holding, CER Cargo Holding (Hungary) and Rail Cargo Group (Austria) signed documents on the establishment of a joint venture in the field of logistics
On December 14th in Budapest Chairman of the Board of CER Cargo Holding SE (Hungary) Laszlo Horvath, CEO of Rail Cargo Group (Austria) Clemens Foerst and CEO of JSC RZD Logistics (Russia, a subsidiary ofJSC Russian Railways) Dmitry Murev signed documents on the establishment of a trilateral rail freight joint venture. The event was attended by Deputy Minister of Transport of the Russian Federation Vladimir Tokarev, First Deputy CEO of JSC Russian Railways Sergey Pavlov, Deputy Prime Minister of Hungary, Minister of Finance of Hungary Mihaly Varga and Minister of Innovation and Technology of Hungary Laszlo Palkovics.
Taking into account sustainable growth in trade between China and Europe the establishment of the joint venture will allow to provide competitive and reliable services for cargo transportation between China, CIS and EU.
The newly created joint venture will act as freight-forwarder and logistics coordinator of cargo transportation from Chinese provinces to South Europe and Balkan countries through Russia and Hungary and backwards.
The establishing of joint-venture with Hungarian and Austrian partners has been conducted with support of the Ministry of Transport of Russian Federation and acts as one of the elements of JSC Russian Railways’ foreign business strategy.