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One of the latest, most important, events in the Russian transport sector was the adoption of the Federal Target Programme “Russian Transport System Development in 2010-2015”. It was signed by Vladimir Putin, Russia’s Prime Minister, in May. Its distinguishing features included enormous financing – more than RUR 13 trillion (USD 550 billion) and a new approach to development of such documents. What are the other peculiarities of the new programme?
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[DETAIL_TEXT] => New Programme for a New Age
The Federal Target Programme “Modernisation of Russian Transport System in 2002-2010”, which is the basic instrument of state policy in the transport sector, has played its role. But, in the words of Alexander Misharin, Deputy Transport Minister of Russia, the achieved results do not meet all the requirements and prospects for the RF economy’s development. Limited investment caused poor coordination of projects to develop different transport modes, so their expansion is uneven. Also, the transit potential of Russia is not exploited properly.
Specialists say that the differences in financing caused a significant worsening of the state of the motorways. For example, in the last decade, car use grew by 85%, but the length of roads increased by 10% only. On the railway network there are also limiting sectors, which make up approximately 30% of lines servicing ore mineral resource fields and industrial areas.
Moreover, lately there were significant changes in the relations of the transport market players, the business and consumers of transport services, and in competition development, which had not been envisaged by previous programme documents. All this became the grounds for developing a new version of the Federal Target Programme that has a different name, priorities, terms and results.
Investments to Reach the Target
The Federal Target Programme “Russian Transport System Development in 2010-2015” is to provide a coordinated development of transport infrastructure objects and to improve the technical and economic parameters of the Russian transport sector. First of all, the new programme is targeted at synchronising transport modes in complex transport junctions, creating new transport corridors, realising innovative projects, strengthening transport infrastructure in the Asian part of Russia and implementing efficient transport technologies. The document consists of six sub-programmes, five of which are targeted at developing sectoral priorities (roads, civil aviation, railways, sea and river transport). The sixth sub-programme is “Development of Export Transport Services”. The new programme is created on the principles of project financing, the volume and sources of which are defined as definite investment projects. One of its priorities is combined development of all transport modes on the basis of territorial planning schemes envisaged by federal development programmes.
After the Federal Target Programme is carried out, people’s transport mobility is to increase by 1.3 times (in comparison with 2009) due to construction of faster and high-speed railways, building and reconstruction of 29 federal airports and 87 regional ones. In fact, a new route network will be created. It will replace the existing one, where 70% of air transportation goes via Moscow. Due to an envisaged project to build hard-surface roads, more than 8,000 rural settlements will be accessible all year round (nowadays 40,000 such settlements have no transport communication throughout the year).
The volume of transport services exports is to double to USD 23 billion and the volume of transit transportation via Russia is to increase by 1.4 times. Moreover, container transportation via the main transport corridors is to grow by 2.5 times. These results are to be reached due to development of the corridors and creation of large transport junctions, mainline centres and airport hubs.
RUR 13.484 trillion is to be invested to carry out the programme, of which RUR 4.651 trillion will be from the federal budget, RUR 614.6 billion from the budgets of RF subjects, and RUR 8.218 trillion from non-budget sources.
More Good Roads
The basic sub-programme “Development of Export of Transport Services” is formed according to a functional principle. It envisages measures for complex development of transport infrastructure on public-private partnership terms. It includes basic logistics junctions, transport services and corridors.
The state and investors are expected to invest RUR 753.1 billion to carry it out. The other five sub-programmes are based on a traditional principle.
The sub-programme for railways is the largest one. OAO RZD is to invest RUR 5.7 trillion out of the RUR 6.2 trillion to be spent to carry out the sub-programme.
The share of the length of railway sectors with limited capacity is to fall from 7.5% (in 2009) to 0.5% (by 2015). The current ratio of transportation by different transport modes is to be kept to prevent the situation that took place in Europe, where the share of railways declined to 10%.
The sub-programme envisages construction of 3,100 km of new railway lines as well as 3,200 km of additional major tracks. Also, 2,700 km of railways will be electrified. By 2015, the speed of freight delivery will be 305 km per day, and the speed of transit container transportation will increase to 950 km per day. According to the estimations of the RF Ministry of Transport, the volume of transit container transportation is to grow to 520,000 TEU.
Specialists at the Transport Ministry consider that the sub-programme of motorway network development is the most important. According to the sub-programme, the length of federal motorways, where capacity limitations are to be removed, is to increase by 6,200 km. In addition, 1,900 km of toll roads and high-speed motorways are to be built and reconstructed. On joint financing terms, 10,000 km of roads of regional and inter-city importance will be constructed and modernised using means from the federal budget. Compared to the forecasted figures of 2009, the share of roads that are up to standard is to grow two-fold, and the length of overloaded motorways will fall by 7%.
To each the targets, RUR 3.2 trillion will be invested from the federal budget, RUR 325.3 billion will be given from regional budgets, and private investments will make up RUR 694 billion .
Safety Most Important
Due to the measures envisaged by the “Sea Transport” sub-programme (an investment worth RUR 630.7 billion), the total capacity of Russian ports will grow two-fold, i.e. by 450 million tons. Thus, the Ministry of Transport plan is to become free from the need to use the ports of neighbouring states. It is expected that by 2015 the total tonnage of sea fleet controlled by the Russian Federation will increase by 2.2 times. All in all, over 6.1 million deadweight-tons will be added to the sea transport fleet. Transport support fleet is also to be renewed. The state takes upon itself responsibility to carry out the measures for improving navigation safety, which was not envisaged by the previous programme.
The period 2009-2015 will be an important stage for river transport development (see interview on the theme). The relative sub-programme of the new Federal Target Programme states that the volume of cargo and passenger transportation via Russia’s single deep-water system is to grow by 100-150%, and its prime cost is to fall by 25-30%. The length of sectors restraining carrying capacity in the European part of Russia is to decrease by 4,000 km. Safety and reliability of navigable hydraulic facilities will improve – by 2015 the problems at all the facilities are to be removed. RUR 206.3 billion is to be spent to carry out these works.
After realisation of the national airport network development sub-programme (the planned investment volume is RUR 1.25 trillion), the aviation mobility of the Russian people is to rise by 56%. Nowadays, the figure is 0.27 in Russia, while in the USA it amounts to 27. Passenger turnover on international air lines will increase by 38%, the number of transfer air passengers will grow by 20.8 times to more than 3 million people per annum. 103 runways will be put into operation after reconstruction, the park of federal and regional aircraft will be renewed, in particular, 678 planes made in Russia are to be purchased.
by Olga Gorbunova
Viewpoint
Oleg Dunaev,
Professor at the RF Government Financial Academy, Vice President of International Transport Academy, doctorate in economics:
– The offered Federal Target Programme (FTP) as well as the previous one covers the targets of partial improvement, but will prevent the Russian transport system from reaching the international competition level. The programme is aimed at state management of transport complex development by means of a state policy of investment, and this is its advantage. But under conditions of an innovative economy, the programme must be targeted at regulation of the transport services market and transport and logistics infrastructure development. The state must act as a market economy agent, creating conditions and unveiling the projects into which businesses can invest to solve public problems. From this standpoint, neither high-speed railways nor highways are defined as one of the main priorities of the new FTP.
Evgeny Kazantsev,
Vice President of the Russian Transporters Union:
– The major difference with the new programme of RF transport system development is that finance is given not for realisation of the whole programme, but for carrying out certain projects for transport sector development in the regions. Meanwhile, no direct incentives are given to investors. There may be just incentives for certain infrastructure objects. For instance, if an airport builds a runway, the land tax may be smaller.
Interview
River transport leaves shallow water
The new federal target programme “Russian Transport System Development in 2010-2015” pays special attention to the key problems of river transport. First of all, the document is aimed at improving safety in inner waterways while enlarging their carrying capacity. Oleg Shahmardanov, deputy head of the Federal Agency for Sea and River Transport, the RF Ministry of Transport talks about it in his interview with The RZD-Partner International.
– Mr Shahmardanov, to what degree will the realisation of these projects and others envisaged by the new federal target programme (FTP) reduce the amount of bottlenecks in the single deep-water system? What will be their real carrying capacity in the mid-term?
– Measures for infrastructure development envisaged by the FTP will reduce the share of inner waterways that limit the carrying capacity of the single deep-water system in the European part of the Russian Federation from 4,900 km (75%) in 2010 to 900 km (14%) in 2015, as well as unifying the dimensions of the rivers considered waterways of international importance. As a result, the carrying capacity of the single deep-water system will grow to 30-33 million tons.
On the whole, 10 projects are to be developed and carried out to make the Russian transport system safer and more stable. They envisage complex reconstruction of the hydraulic facilities in various basins. After the projects are carried out and the technical condition of the hydraulic facilities is improved, the following results will be reached: the technical condition of shipping hydraulic constructions will be considered “efficient”, their safety level will be “normal” and the possibility of emergency will fall to an acceptable level.
– What are the projects you are talking about?
– In the near future it is necessary to carry out projects to enlarge the carrying capacity of inner waterways, including modernisation of the Volga-Don canal and the Volga-Baltic Waterway. In order to develop modern and efficient transport infrastructure that provides faster goods flows and cuts transport expenses in the economy, the sectors limiting the carrying capacity of the single deep-water system in the European part of Russia must be removed.
For more than 25 years, a large sector in the middle of Russia’s main waterway – the Volga – has limited navigation of heavy-tonnage and modern passenger vessels. It is located near Nizhny Novgorod. Because the depth is not enough there, it takes vessels 2-3 days to pass the sector. The real depth of the navigable pass there is 2.4 metres, and it will decrease to 2 metres by 2014. And this may spell the end of transit navigation from the Caspian to the Black Sea basin to the Baltic Sea and the White Sea. The realisation of the project of a hydrosystem construction there will provide safe navigation.
The second large investment project is “Development of the Volga-Baltic Waterway Infrastructure to Provide Its Stable Functioning and Increase the Carrying Capacity after Construction of the Second Lane of the Nizhne-Svirsky Hydraulic Structure Lock”. The Volga-Baltic Waterway is an important part of the single deep-water system, its length is 857 km, guaranteed depth – 4 metres, and maximum capacity achieved in 2004 – 18.5 million tons. The Volga-Baltic Waterway has 9 shipping single-lane locks, providing floating of 5,000-ton dwt vessels.
In the past two years, the throughput of the Volga-Baltic Waterway fell to 17.8 million tons, which is significantly smaller than the demands of carriers and cargo owners. According to forecasts, the shortage of carrying capacity in this waterway will only increase, and in 2012 it will be able to fulfill just 68% of the demand for transportation, in 2020 – 49%, and in 2026 – 43%.
The realisation of the Nizhne-Svirsky hydraulic structure development project, together with reconstruction and capital repair of shipping hydraulic facilities and canal way, will increase the carrying capacity of the Volga-Baltic Waterway by 50%-100%, and provide safe navigation in the region.
Interviewed by Nadezhda Vtorushina
[~DETAIL_TEXT] => New Programme for a New Age
The Federal Target Programme “Modernisation of Russian Transport System in 2002-2010”, which is the basic instrument of state policy in the transport sector, has played its role. But, in the words of Alexander Misharin, Deputy Transport Minister of Russia, the achieved results do not meet all the requirements and prospects for the RF economy’s development. Limited investment caused poor coordination of projects to develop different transport modes, so their expansion is uneven. Also, the transit potential of Russia is not exploited properly.
Specialists say that the differences in financing caused a significant worsening of the state of the motorways. For example, in the last decade, car use grew by 85%, but the length of roads increased by 10% only. On the railway network there are also limiting sectors, which make up approximately 30% of lines servicing ore mineral resource fields and industrial areas.
Moreover, lately there were significant changes in the relations of the transport market players, the business and consumers of transport services, and in competition development, which had not been envisaged by previous programme documents. All this became the grounds for developing a new version of the Federal Target Programme that has a different name, priorities, terms and results.
Investments to Reach the Target
The Federal Target Programme “Russian Transport System Development in 2010-2015” is to provide a coordinated development of transport infrastructure objects and to improve the technical and economic parameters of the Russian transport sector. First of all, the new programme is targeted at synchronising transport modes in complex transport junctions, creating new transport corridors, realising innovative projects, strengthening transport infrastructure in the Asian part of Russia and implementing efficient transport technologies. The document consists of six sub-programmes, five of which are targeted at developing sectoral priorities (roads, civil aviation, railways, sea and river transport). The sixth sub-programme is “Development of Export Transport Services”. The new programme is created on the principles of project financing, the volume and sources of which are defined as definite investment projects. One of its priorities is combined development of all transport modes on the basis of territorial planning schemes envisaged by federal development programmes.
After the Federal Target Programme is carried out, people’s transport mobility is to increase by 1.3 times (in comparison with 2009) due to construction of faster and high-speed railways, building and reconstruction of 29 federal airports and 87 regional ones. In fact, a new route network will be created. It will replace the existing one, where 70% of air transportation goes via Moscow. Due to an envisaged project to build hard-surface roads, more than 8,000 rural settlements will be accessible all year round (nowadays 40,000 such settlements have no transport communication throughout the year).
The volume of transport services exports is to double to USD 23 billion and the volume of transit transportation via Russia is to increase by 1.4 times. Moreover, container transportation via the main transport corridors is to grow by 2.5 times. These results are to be reached due to development of the corridors and creation of large transport junctions, mainline centres and airport hubs.
RUR 13.484 trillion is to be invested to carry out the programme, of which RUR 4.651 trillion will be from the federal budget, RUR 614.6 billion from the budgets of RF subjects, and RUR 8.218 trillion from non-budget sources.
More Good Roads
The basic sub-programme “Development of Export of Transport Services” is formed according to a functional principle. It envisages measures for complex development of transport infrastructure on public-private partnership terms. It includes basic logistics junctions, transport services and corridors.
The state and investors are expected to invest RUR 753.1 billion to carry it out. The other five sub-programmes are based on a traditional principle.
The sub-programme for railways is the largest one. OAO RZD is to invest RUR 5.7 trillion out of the RUR 6.2 trillion to be spent to carry out the sub-programme.
The share of the length of railway sectors with limited capacity is to fall from 7.5% (in 2009) to 0.5% (by 2015). The current ratio of transportation by different transport modes is to be kept to prevent the situation that took place in Europe, where the share of railways declined to 10%.
The sub-programme envisages construction of 3,100 km of new railway lines as well as 3,200 km of additional major tracks. Also, 2,700 km of railways will be electrified. By 2015, the speed of freight delivery will be 305 km per day, and the speed of transit container transportation will increase to 950 km per day. According to the estimations of the RF Ministry of Transport, the volume of transit container transportation is to grow to 520,000 TEU.
Specialists at the Transport Ministry consider that the sub-programme of motorway network development is the most important. According to the sub-programme, the length of federal motorways, where capacity limitations are to be removed, is to increase by 6,200 km. In addition, 1,900 km of toll roads and high-speed motorways are to be built and reconstructed. On joint financing terms, 10,000 km of roads of regional and inter-city importance will be constructed and modernised using means from the federal budget. Compared to the forecasted figures of 2009, the share of roads that are up to standard is to grow two-fold, and the length of overloaded motorways will fall by 7%.
To each the targets, RUR 3.2 trillion will be invested from the federal budget, RUR 325.3 billion will be given from regional budgets, and private investments will make up RUR 694 billion .
Safety Most Important
Due to the measures envisaged by the “Sea Transport” sub-programme (an investment worth RUR 630.7 billion), the total capacity of Russian ports will grow two-fold, i.e. by 450 million tons. Thus, the Ministry of Transport plan is to become free from the need to use the ports of neighbouring states. It is expected that by 2015 the total tonnage of sea fleet controlled by the Russian Federation will increase by 2.2 times. All in all, over 6.1 million deadweight-tons will be added to the sea transport fleet. Transport support fleet is also to be renewed. The state takes upon itself responsibility to carry out the measures for improving navigation safety, which was not envisaged by the previous programme.
The period 2009-2015 will be an important stage for river transport development (see interview on the theme). The relative sub-programme of the new Federal Target Programme states that the volume of cargo and passenger transportation via Russia’s single deep-water system is to grow by 100-150%, and its prime cost is to fall by 25-30%. The length of sectors restraining carrying capacity in the European part of Russia is to decrease by 4,000 km. Safety and reliability of navigable hydraulic facilities will improve – by 2015 the problems at all the facilities are to be removed. RUR 206.3 billion is to be spent to carry out these works.
After realisation of the national airport network development sub-programme (the planned investment volume is RUR 1.25 trillion), the aviation mobility of the Russian people is to rise by 56%. Nowadays, the figure is 0.27 in Russia, while in the USA it amounts to 27. Passenger turnover on international air lines will increase by 38%, the number of transfer air passengers will grow by 20.8 times to more than 3 million people per annum. 103 runways will be put into operation after reconstruction, the park of federal and regional aircraft will be renewed, in particular, 678 planes made in Russia are to be purchased.
by Olga Gorbunova
Viewpoint
Oleg Dunaev,
Professor at the RF Government Financial Academy, Vice President of International Transport Academy, doctorate in economics:
– The offered Federal Target Programme (FTP) as well as the previous one covers the targets of partial improvement, but will prevent the Russian transport system from reaching the international competition level. The programme is aimed at state management of transport complex development by means of a state policy of investment, and this is its advantage. But under conditions of an innovative economy, the programme must be targeted at regulation of the transport services market and transport and logistics infrastructure development. The state must act as a market economy agent, creating conditions and unveiling the projects into which businesses can invest to solve public problems. From this standpoint, neither high-speed railways nor highways are defined as one of the main priorities of the new FTP.
Evgeny Kazantsev,
Vice President of the Russian Transporters Union:
– The major difference with the new programme of RF transport system development is that finance is given not for realisation of the whole programme, but for carrying out certain projects for transport sector development in the regions. Meanwhile, no direct incentives are given to investors. There may be just incentives for certain infrastructure objects. For instance, if an airport builds a runway, the land tax may be smaller.
Interview
River transport leaves shallow water
The new federal target programme “Russian Transport System Development in 2010-2015” pays special attention to the key problems of river transport. First of all, the document is aimed at improving safety in inner waterways while enlarging their carrying capacity. Oleg Shahmardanov, deputy head of the Federal Agency for Sea and River Transport, the RF Ministry of Transport talks about it in his interview with The RZD-Partner International.
– Mr Shahmardanov, to what degree will the realisation of these projects and others envisaged by the new federal target programme (FTP) reduce the amount of bottlenecks in the single deep-water system? What will be their real carrying capacity in the mid-term?
– Measures for infrastructure development envisaged by the FTP will reduce the share of inner waterways that limit the carrying capacity of the single deep-water system in the European part of the Russian Federation from 4,900 km (75%) in 2010 to 900 km (14%) in 2015, as well as unifying the dimensions of the rivers considered waterways of international importance. As a result, the carrying capacity of the single deep-water system will grow to 30-33 million tons.
On the whole, 10 projects are to be developed and carried out to make the Russian transport system safer and more stable. They envisage complex reconstruction of the hydraulic facilities in various basins. After the projects are carried out and the technical condition of the hydraulic facilities is improved, the following results will be reached: the technical condition of shipping hydraulic constructions will be considered “efficient”, their safety level will be “normal” and the possibility of emergency will fall to an acceptable level.
– What are the projects you are talking about?
– In the near future it is necessary to carry out projects to enlarge the carrying capacity of inner waterways, including modernisation of the Volga-Don canal and the Volga-Baltic Waterway. In order to develop modern and efficient transport infrastructure that provides faster goods flows and cuts transport expenses in the economy, the sectors limiting the carrying capacity of the single deep-water system in the European part of Russia must be removed.
For more than 25 years, a large sector in the middle of Russia’s main waterway – the Volga – has limited navigation of heavy-tonnage and modern passenger vessels. It is located near Nizhny Novgorod. Because the depth is not enough there, it takes vessels 2-3 days to pass the sector. The real depth of the navigable pass there is 2.4 metres, and it will decrease to 2 metres by 2014. And this may spell the end of transit navigation from the Caspian to the Black Sea basin to the Baltic Sea and the White Sea. The realisation of the project of a hydrosystem construction there will provide safe navigation.
The second large investment project is “Development of the Volga-Baltic Waterway Infrastructure to Provide Its Stable Functioning and Increase the Carrying Capacity after Construction of the Second Lane of the Nizhne-Svirsky Hydraulic Structure Lock”. The Volga-Baltic Waterway is an important part of the single deep-water system, its length is 857 km, guaranteed depth – 4 metres, and maximum capacity achieved in 2004 – 18.5 million tons. The Volga-Baltic Waterway has 9 shipping single-lane locks, providing floating of 5,000-ton dwt vessels.
In the past two years, the throughput of the Volga-Baltic Waterway fell to 17.8 million tons, which is significantly smaller than the demands of carriers and cargo owners. According to forecasts, the shortage of carrying capacity in this waterway will only increase, and in 2012 it will be able to fulfill just 68% of the demand for transportation, in 2020 – 49%, and in 2026 – 43%.
The realisation of the Nizhne-Svirsky hydraulic structure development project, together with reconstruction and capital repair of shipping hydraulic facilities and canal way, will increase the carrying capacity of the Volga-Baltic Waterway by 50%-100%, and provide safe navigation in the region.
Interviewed by Nadezhda Vtorushina
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[SECTION_META_TITLE] => Russian Transport System in 2010-2015: Priorities Changed
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[SECTION_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/12.jpg" border="1" alt=" " hspace="3" vspace="3" width="131" height="160" align="left" />One of the latest, most important, events in the Russian transport sector was the adoption of the Federal Target Programme “Russian Transport System Development in 2010-2015”. It was signed by Vladimir Putin, Russia’s Prime Minister, in May. Its distinguishing features included enormous financing – more than RUR 13 trillion (USD 550 billion) and a new approach to development of such documents. What are the other peculiarities of the new programme?
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[ELEMENT_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/12.jpg" border="1" alt=" " hspace="3" vspace="3" width="131" height="160" align="left" />One of the latest, most important, events in the Russian transport sector was the adoption of the Federal Target Programme “Russian Transport System Development in 2010-2015”. It was signed by Vladimir Putin, Russia’s Prime Minister, in May. Its distinguishing features included enormous financing – more than RUR 13 trillion (USD 550 billion) and a new approach to development of such documents. What are the other peculiarities of the new programme?
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[DETAIL_TEXT] => New Programme for a New Age
The Federal Target Programme “Modernisation of Russian Transport System in 2002-2010”, which is the basic instrument of state policy in the transport sector, has played its role. But, in the words of Alexander Misharin, Deputy Transport Minister of Russia, the achieved results do not meet all the requirements and prospects for the RF economy’s development. Limited investment caused poor coordination of projects to develop different transport modes, so their expansion is uneven. Also, the transit potential of Russia is not exploited properly.
Specialists say that the differences in financing caused a significant worsening of the state of the motorways. For example, in the last decade, car use grew by 85%, but the length of roads increased by 10% only. On the railway network there are also limiting sectors, which make up approximately 30% of lines servicing ore mineral resource fields and industrial areas.
Moreover, lately there were significant changes in the relations of the transport market players, the business and consumers of transport services, and in competition development, which had not been envisaged by previous programme documents. All this became the grounds for developing a new version of the Federal Target Programme that has a different name, priorities, terms and results.
Investments to Reach the Target
The Federal Target Programme “Russian Transport System Development in 2010-2015” is to provide a coordinated development of transport infrastructure objects and to improve the technical and economic parameters of the Russian transport sector. First of all, the new programme is targeted at synchronising transport modes in complex transport junctions, creating new transport corridors, realising innovative projects, strengthening transport infrastructure in the Asian part of Russia and implementing efficient transport technologies. The document consists of six sub-programmes, five of which are targeted at developing sectoral priorities (roads, civil aviation, railways, sea and river transport). The sixth sub-programme is “Development of Export Transport Services”. The new programme is created on the principles of project financing, the volume and sources of which are defined as definite investment projects. One of its priorities is combined development of all transport modes on the basis of territorial planning schemes envisaged by federal development programmes.
After the Federal Target Programme is carried out, people’s transport mobility is to increase by 1.3 times (in comparison with 2009) due to construction of faster and high-speed railways, building and reconstruction of 29 federal airports and 87 regional ones. In fact, a new route network will be created. It will replace the existing one, where 70% of air transportation goes via Moscow. Due to an envisaged project to build hard-surface roads, more than 8,000 rural settlements will be accessible all year round (nowadays 40,000 such settlements have no transport communication throughout the year).
The volume of transport services exports is to double to USD 23 billion and the volume of transit transportation via Russia is to increase by 1.4 times. Moreover, container transportation via the main transport corridors is to grow by 2.5 times. These results are to be reached due to development of the corridors and creation of large transport junctions, mainline centres and airport hubs.
RUR 13.484 trillion is to be invested to carry out the programme, of which RUR 4.651 trillion will be from the federal budget, RUR 614.6 billion from the budgets of RF subjects, and RUR 8.218 trillion from non-budget sources.
More Good Roads
The basic sub-programme “Development of Export of Transport Services” is formed according to a functional principle. It envisages measures for complex development of transport infrastructure on public-private partnership terms. It includes basic logistics junctions, transport services and corridors.
The state and investors are expected to invest RUR 753.1 billion to carry it out. The other five sub-programmes are based on a traditional principle.
The sub-programme for railways is the largest one. OAO RZD is to invest RUR 5.7 trillion out of the RUR 6.2 trillion to be spent to carry out the sub-programme.
The share of the length of railway sectors with limited capacity is to fall from 7.5% (in 2009) to 0.5% (by 2015). The current ratio of transportation by different transport modes is to be kept to prevent the situation that took place in Europe, where the share of railways declined to 10%.
The sub-programme envisages construction of 3,100 km of new railway lines as well as 3,200 km of additional major tracks. Also, 2,700 km of railways will be electrified. By 2015, the speed of freight delivery will be 305 km per day, and the speed of transit container transportation will increase to 950 km per day. According to the estimations of the RF Ministry of Transport, the volume of transit container transportation is to grow to 520,000 TEU.
Specialists at the Transport Ministry consider that the sub-programme of motorway network development is the most important. According to the sub-programme, the length of federal motorways, where capacity limitations are to be removed, is to increase by 6,200 km. In addition, 1,900 km of toll roads and high-speed motorways are to be built and reconstructed. On joint financing terms, 10,000 km of roads of regional and inter-city importance will be constructed and modernised using means from the federal budget. Compared to the forecasted figures of 2009, the share of roads that are up to standard is to grow two-fold, and the length of overloaded motorways will fall by 7%.
To each the targets, RUR 3.2 trillion will be invested from the federal budget, RUR 325.3 billion will be given from regional budgets, and private investments will make up RUR 694 billion .
Safety Most Important
Due to the measures envisaged by the “Sea Transport” sub-programme (an investment worth RUR 630.7 billion), the total capacity of Russian ports will grow two-fold, i.e. by 450 million tons. Thus, the Ministry of Transport plan is to become free from the need to use the ports of neighbouring states. It is expected that by 2015 the total tonnage of sea fleet controlled by the Russian Federation will increase by 2.2 times. All in all, over 6.1 million deadweight-tons will be added to the sea transport fleet. Transport support fleet is also to be renewed. The state takes upon itself responsibility to carry out the measures for improving navigation safety, which was not envisaged by the previous programme.
The period 2009-2015 will be an important stage for river transport development (see interview on the theme). The relative sub-programme of the new Federal Target Programme states that the volume of cargo and passenger transportation via Russia’s single deep-water system is to grow by 100-150%, and its prime cost is to fall by 25-30%. The length of sectors restraining carrying capacity in the European part of Russia is to decrease by 4,000 km. Safety and reliability of navigable hydraulic facilities will improve – by 2015 the problems at all the facilities are to be removed. RUR 206.3 billion is to be spent to carry out these works.
After realisation of the national airport network development sub-programme (the planned investment volume is RUR 1.25 trillion), the aviation mobility of the Russian people is to rise by 56%. Nowadays, the figure is 0.27 in Russia, while in the USA it amounts to 27. Passenger turnover on international air lines will increase by 38%, the number of transfer air passengers will grow by 20.8 times to more than 3 million people per annum. 103 runways will be put into operation after reconstruction, the park of federal and regional aircraft will be renewed, in particular, 678 planes made in Russia are to be purchased.
by Olga Gorbunova
Viewpoint
Oleg Dunaev,
Professor at the RF Government Financial Academy, Vice President of International Transport Academy, doctorate in economics:
– The offered Federal Target Programme (FTP) as well as the previous one covers the targets of partial improvement, but will prevent the Russian transport system from reaching the international competition level. The programme is aimed at state management of transport complex development by means of a state policy of investment, and this is its advantage. But under conditions of an innovative economy, the programme must be targeted at regulation of the transport services market and transport and logistics infrastructure development. The state must act as a market economy agent, creating conditions and unveiling the projects into which businesses can invest to solve public problems. From this standpoint, neither high-speed railways nor highways are defined as one of the main priorities of the new FTP.
Evgeny Kazantsev,
Vice President of the Russian Transporters Union:
– The major difference with the new programme of RF transport system development is that finance is given not for realisation of the whole programme, but for carrying out certain projects for transport sector development in the regions. Meanwhile, no direct incentives are given to investors. There may be just incentives for certain infrastructure objects. For instance, if an airport builds a runway, the land tax may be smaller.
Interview
River transport leaves shallow water
The new federal target programme “Russian Transport System Development in 2010-2015” pays special attention to the key problems of river transport. First of all, the document is aimed at improving safety in inner waterways while enlarging their carrying capacity. Oleg Shahmardanov, deputy head of the Federal Agency for Sea and River Transport, the RF Ministry of Transport talks about it in his interview with The RZD-Partner International.
– Mr Shahmardanov, to what degree will the realisation of these projects and others envisaged by the new federal target programme (FTP) reduce the amount of bottlenecks in the single deep-water system? What will be their real carrying capacity in the mid-term?
– Measures for infrastructure development envisaged by the FTP will reduce the share of inner waterways that limit the carrying capacity of the single deep-water system in the European part of the Russian Federation from 4,900 km (75%) in 2010 to 900 km (14%) in 2015, as well as unifying the dimensions of the rivers considered waterways of international importance. As a result, the carrying capacity of the single deep-water system will grow to 30-33 million tons.
On the whole, 10 projects are to be developed and carried out to make the Russian transport system safer and more stable. They envisage complex reconstruction of the hydraulic facilities in various basins. After the projects are carried out and the technical condition of the hydraulic facilities is improved, the following results will be reached: the technical condition of shipping hydraulic constructions will be considered “efficient”, their safety level will be “normal” and the possibility of emergency will fall to an acceptable level.
– What are the projects you are talking about?
– In the near future it is necessary to carry out projects to enlarge the carrying capacity of inner waterways, including modernisation of the Volga-Don canal and the Volga-Baltic Waterway. In order to develop modern and efficient transport infrastructure that provides faster goods flows and cuts transport expenses in the economy, the sectors limiting the carrying capacity of the single deep-water system in the European part of Russia must be removed.
For more than 25 years, a large sector in the middle of Russia’s main waterway – the Volga – has limited navigation of heavy-tonnage and modern passenger vessels. It is located near Nizhny Novgorod. Because the depth is not enough there, it takes vessels 2-3 days to pass the sector. The real depth of the navigable pass there is 2.4 metres, and it will decrease to 2 metres by 2014. And this may spell the end of transit navigation from the Caspian to the Black Sea basin to the Baltic Sea and the White Sea. The realisation of the project of a hydrosystem construction there will provide safe navigation.
The second large investment project is “Development of the Volga-Baltic Waterway Infrastructure to Provide Its Stable Functioning and Increase the Carrying Capacity after Construction of the Second Lane of the Nizhne-Svirsky Hydraulic Structure Lock”. The Volga-Baltic Waterway is an important part of the single deep-water system, its length is 857 km, guaranteed depth – 4 metres, and maximum capacity achieved in 2004 – 18.5 million tons. The Volga-Baltic Waterway has 9 shipping single-lane locks, providing floating of 5,000-ton dwt vessels.
In the past two years, the throughput of the Volga-Baltic Waterway fell to 17.8 million tons, which is significantly smaller than the demands of carriers and cargo owners. According to forecasts, the shortage of carrying capacity in this waterway will only increase, and in 2012 it will be able to fulfill just 68% of the demand for transportation, in 2020 – 49%, and in 2026 – 43%.
The realisation of the Nizhne-Svirsky hydraulic structure development project, together with reconstruction and capital repair of shipping hydraulic facilities and canal way, will increase the carrying capacity of the Volga-Baltic Waterway by 50%-100%, and provide safe navigation in the region.
Interviewed by Nadezhda Vtorushina
[~DETAIL_TEXT] => New Programme for a New Age
The Federal Target Programme “Modernisation of Russian Transport System in 2002-2010”, which is the basic instrument of state policy in the transport sector, has played its role. But, in the words of Alexander Misharin, Deputy Transport Minister of Russia, the achieved results do not meet all the requirements and prospects for the RF economy’s development. Limited investment caused poor coordination of projects to develop different transport modes, so their expansion is uneven. Also, the transit potential of Russia is not exploited properly.
Specialists say that the differences in financing caused a significant worsening of the state of the motorways. For example, in the last decade, car use grew by 85%, but the length of roads increased by 10% only. On the railway network there are also limiting sectors, which make up approximately 30% of lines servicing ore mineral resource fields and industrial areas.
Moreover, lately there were significant changes in the relations of the transport market players, the business and consumers of transport services, and in competition development, which had not been envisaged by previous programme documents. All this became the grounds for developing a new version of the Federal Target Programme that has a different name, priorities, terms and results.
Investments to Reach the Target
The Federal Target Programme “Russian Transport System Development in 2010-2015” is to provide a coordinated development of transport infrastructure objects and to improve the technical and economic parameters of the Russian transport sector. First of all, the new programme is targeted at synchronising transport modes in complex transport junctions, creating new transport corridors, realising innovative projects, strengthening transport infrastructure in the Asian part of Russia and implementing efficient transport technologies. The document consists of six sub-programmes, five of which are targeted at developing sectoral priorities (roads, civil aviation, railways, sea and river transport). The sixth sub-programme is “Development of Export Transport Services”. The new programme is created on the principles of project financing, the volume and sources of which are defined as definite investment projects. One of its priorities is combined development of all transport modes on the basis of territorial planning schemes envisaged by federal development programmes.
After the Federal Target Programme is carried out, people’s transport mobility is to increase by 1.3 times (in comparison with 2009) due to construction of faster and high-speed railways, building and reconstruction of 29 federal airports and 87 regional ones. In fact, a new route network will be created. It will replace the existing one, where 70% of air transportation goes via Moscow. Due to an envisaged project to build hard-surface roads, more than 8,000 rural settlements will be accessible all year round (nowadays 40,000 such settlements have no transport communication throughout the year).
The volume of transport services exports is to double to USD 23 billion and the volume of transit transportation via Russia is to increase by 1.4 times. Moreover, container transportation via the main transport corridors is to grow by 2.5 times. These results are to be reached due to development of the corridors and creation of large transport junctions, mainline centres and airport hubs.
RUR 13.484 trillion is to be invested to carry out the programme, of which RUR 4.651 trillion will be from the federal budget, RUR 614.6 billion from the budgets of RF subjects, and RUR 8.218 trillion from non-budget sources.
More Good Roads
The basic sub-programme “Development of Export of Transport Services” is formed according to a functional principle. It envisages measures for complex development of transport infrastructure on public-private partnership terms. It includes basic logistics junctions, transport services and corridors.
The state and investors are expected to invest RUR 753.1 billion to carry it out. The other five sub-programmes are based on a traditional principle.
The sub-programme for railways is the largest one. OAO RZD is to invest RUR 5.7 trillion out of the RUR 6.2 trillion to be spent to carry out the sub-programme.
The share of the length of railway sectors with limited capacity is to fall from 7.5% (in 2009) to 0.5% (by 2015). The current ratio of transportation by different transport modes is to be kept to prevent the situation that took place in Europe, where the share of railways declined to 10%.
The sub-programme envisages construction of 3,100 km of new railway lines as well as 3,200 km of additional major tracks. Also, 2,700 km of railways will be electrified. By 2015, the speed of freight delivery will be 305 km per day, and the speed of transit container transportation will increase to 950 km per day. According to the estimations of the RF Ministry of Transport, the volume of transit container transportation is to grow to 520,000 TEU.
Specialists at the Transport Ministry consider that the sub-programme of motorway network development is the most important. According to the sub-programme, the length of federal motorways, where capacity limitations are to be removed, is to increase by 6,200 km. In addition, 1,900 km of toll roads and high-speed motorways are to be built and reconstructed. On joint financing terms, 10,000 km of roads of regional and inter-city importance will be constructed and modernised using means from the federal budget. Compared to the forecasted figures of 2009, the share of roads that are up to standard is to grow two-fold, and the length of overloaded motorways will fall by 7%.
To each the targets, RUR 3.2 trillion will be invested from the federal budget, RUR 325.3 billion will be given from regional budgets, and private investments will make up RUR 694 billion .
Safety Most Important
Due to the measures envisaged by the “Sea Transport” sub-programme (an investment worth RUR 630.7 billion), the total capacity of Russian ports will grow two-fold, i.e. by 450 million tons. Thus, the Ministry of Transport plan is to become free from the need to use the ports of neighbouring states. It is expected that by 2015 the total tonnage of sea fleet controlled by the Russian Federation will increase by 2.2 times. All in all, over 6.1 million deadweight-tons will be added to the sea transport fleet. Transport support fleet is also to be renewed. The state takes upon itself responsibility to carry out the measures for improving navigation safety, which was not envisaged by the previous programme.
The period 2009-2015 will be an important stage for river transport development (see interview on the theme). The relative sub-programme of the new Federal Target Programme states that the volume of cargo and passenger transportation via Russia’s single deep-water system is to grow by 100-150%, and its prime cost is to fall by 25-30%. The length of sectors restraining carrying capacity in the European part of Russia is to decrease by 4,000 km. Safety and reliability of navigable hydraulic facilities will improve – by 2015 the problems at all the facilities are to be removed. RUR 206.3 billion is to be spent to carry out these works.
After realisation of the national airport network development sub-programme (the planned investment volume is RUR 1.25 trillion), the aviation mobility of the Russian people is to rise by 56%. Nowadays, the figure is 0.27 in Russia, while in the USA it amounts to 27. Passenger turnover on international air lines will increase by 38%, the number of transfer air passengers will grow by 20.8 times to more than 3 million people per annum. 103 runways will be put into operation after reconstruction, the park of federal and regional aircraft will be renewed, in particular, 678 planes made in Russia are to be purchased.
by Olga Gorbunova
Viewpoint
Oleg Dunaev,
Professor at the RF Government Financial Academy, Vice President of International Transport Academy, doctorate in economics:
– The offered Federal Target Programme (FTP) as well as the previous one covers the targets of partial improvement, but will prevent the Russian transport system from reaching the international competition level. The programme is aimed at state management of transport complex development by means of a state policy of investment, and this is its advantage. But under conditions of an innovative economy, the programme must be targeted at regulation of the transport services market and transport and logistics infrastructure development. The state must act as a market economy agent, creating conditions and unveiling the projects into which businesses can invest to solve public problems. From this standpoint, neither high-speed railways nor highways are defined as one of the main priorities of the new FTP.
Evgeny Kazantsev,
Vice President of the Russian Transporters Union:
– The major difference with the new programme of RF transport system development is that finance is given not for realisation of the whole programme, but for carrying out certain projects for transport sector development in the regions. Meanwhile, no direct incentives are given to investors. There may be just incentives for certain infrastructure objects. For instance, if an airport builds a runway, the land tax may be smaller.
Interview
River transport leaves shallow water
The new federal target programme “Russian Transport System Development in 2010-2015” pays special attention to the key problems of river transport. First of all, the document is aimed at improving safety in inner waterways while enlarging their carrying capacity. Oleg Shahmardanov, deputy head of the Federal Agency for Sea and River Transport, the RF Ministry of Transport talks about it in his interview with The RZD-Partner International.
– Mr Shahmardanov, to what degree will the realisation of these projects and others envisaged by the new federal target programme (FTP) reduce the amount of bottlenecks in the single deep-water system? What will be their real carrying capacity in the mid-term?
– Measures for infrastructure development envisaged by the FTP will reduce the share of inner waterways that limit the carrying capacity of the single deep-water system in the European part of the Russian Federation from 4,900 km (75%) in 2010 to 900 km (14%) in 2015, as well as unifying the dimensions of the rivers considered waterways of international importance. As a result, the carrying capacity of the single deep-water system will grow to 30-33 million tons.
On the whole, 10 projects are to be developed and carried out to make the Russian transport system safer and more stable. They envisage complex reconstruction of the hydraulic facilities in various basins. After the projects are carried out and the technical condition of the hydraulic facilities is improved, the following results will be reached: the technical condition of shipping hydraulic constructions will be considered “efficient”, their safety level will be “normal” and the possibility of emergency will fall to an acceptable level.
– What are the projects you are talking about?
– In the near future it is necessary to carry out projects to enlarge the carrying capacity of inner waterways, including modernisation of the Volga-Don canal and the Volga-Baltic Waterway. In order to develop modern and efficient transport infrastructure that provides faster goods flows and cuts transport expenses in the economy, the sectors limiting the carrying capacity of the single deep-water system in the European part of Russia must be removed.
For more than 25 years, a large sector in the middle of Russia’s main waterway – the Volga – has limited navigation of heavy-tonnage and modern passenger vessels. It is located near Nizhny Novgorod. Because the depth is not enough there, it takes vessels 2-3 days to pass the sector. The real depth of the navigable pass there is 2.4 metres, and it will decrease to 2 metres by 2014. And this may spell the end of transit navigation from the Caspian to the Black Sea basin to the Baltic Sea and the White Sea. The realisation of the project of a hydrosystem construction there will provide safe navigation.
The second large investment project is “Development of the Volga-Baltic Waterway Infrastructure to Provide Its Stable Functioning and Increase the Carrying Capacity after Construction of the Second Lane of the Nizhne-Svirsky Hydraulic Structure Lock”. The Volga-Baltic Waterway is an important part of the single deep-water system, its length is 857 km, guaranteed depth – 4 metres, and maximum capacity achieved in 2004 – 18.5 million tons. The Volga-Baltic Waterway has 9 shipping single-lane locks, providing floating of 5,000-ton dwt vessels.
In the past two years, the throughput of the Volga-Baltic Waterway fell to 17.8 million tons, which is significantly smaller than the demands of carriers and cargo owners. According to forecasts, the shortage of carrying capacity in this waterway will only increase, and in 2012 it will be able to fulfill just 68% of the demand for transportation, in 2020 – 49%, and in 2026 – 43%.
The realisation of the Nizhne-Svirsky hydraulic structure development project, together with reconstruction and capital repair of shipping hydraulic facilities and canal way, will increase the carrying capacity of the Volga-Baltic Waterway by 50%-100%, and provide safe navigation in the region.
Interviewed by Nadezhda Vtorushina
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[PREVIEW_TEXT] => One of the latest, most important, events in the Russian transport sector was the adoption of the Federal Target Programme “Russian Transport System Development in 2010-2015”. It was signed by Vladimir Putin, Russia’s Prime Minister, in May. Its distinguishing features included enormous financing – more than RUR 13 trillion (USD 550 billion) and a new approach to development of such documents. What are the other peculiarities of the new programme?
[~PREVIEW_TEXT] => One of the latest, most important, events in the Russian transport sector was the adoption of the Federal Target Programme “Russian Transport System Development in 2010-2015”. It was signed by Vladimir Putin, Russia’s Prime Minister, in May. Its distinguishing features included enormous financing – more than RUR 13 trillion (USD 550 billion) and a new approach to development of such documents. What are the other peculiarities of the new programme?
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[SECTION_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/12.jpg" border="1" alt=" " hspace="3" vspace="3" width="131" height="160" align="left" />One of the latest, most important, events in the Russian transport sector was the adoption of the Federal Target Programme “Russian Transport System Development in 2010-2015”. It was signed by Vladimir Putin, Russia’s Prime Minister, in May. Its distinguishing features included enormous financing – more than RUR 13 trillion (USD 550 billion) and a new approach to development of such documents. What are the other peculiarities of the new programme?
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[DETAIL_TEXT] => Contract for the Lease of Rail Infrastructure on Tumangan and Rajin Stretch Concluded
On August 6 in Pyongyang, OAO RZD signed a 49-year contract for the lease of rail infrastructure on the stretch between Tumangan and Rajin and concluded an agreement to start reconstruction of the railways and the building of a container terminal at the port of Rajin. This followed talks on August 5-6 in Pyongyang between Russian Railways, the Russian-Korean joint venture RasonKonTrans and the Railway Transport Company Tonhe from North Korea’s Ministry of Railways.
The parties agreed to organise a ceremony on the commencement of work on the reconstruction of the railway line between Tumangan - Rajin and the construction of the Rajin terminal before the end of 2008.
It was also agreed to explore the possibility of reconstructing the railway line in North Korea between Rajin and Namyan on the border with China in order to organise the transit of freight with China. The parties consider this area to be very promising and it could become the next phase in the implementation of the Khassan - Rajin project.
As a result of the negotiations, a Board of Directors of the joint venture RasonKonTrans was formed and held its first meeting, during which senior officials were elected to the Board Council and topical issues agreed relating to the organisation and management of the joint venture.
TransCreditBank and Transstroy Sign a Cooperation Agreement
On May 23, 2008, Yury Reilyan CEO of Transstroi Design and Construction Company LLC and Sergey Pushkin, President of JSC TransCreditBank signed a cooperation agreement providing long-term relations between the company and the bank. The document was executed and delivered during International Transport Forum “Russia’s Transport - 2008” in Sochi.
Pursuant to this agreement the parties will focus on implementation of infrastructure projects under programs endorsed by the RF’s Ministry of Transport and Ministry for Regional Development.
TransCreditBank is to provide loans of different tenure, issue bank guarantees to Transstroi for fulfillment of building contracts, and support bidding at tenders, auctions and competitions. The parties will jointly develop and implement project finance schemes for capital-intensive projects including those based on concession laws. In the interests of its partner the bank will finance delivery of equipment, machinery and vehicles on leasing terms, including raising funds on the international markets against ECA guarantees. The parties also plan to cooperate in other areas of mutual interest.
To quote Mr Reilyan, CEO of Transstroi: “The agreement is a framework agreement intended to raise funds for development of infrastructure across the whole of Russia. Proceeds are to be used to upgrade the existing network and to create new infrastructure – motorways, railroads, waterworks and airports.”
To quote the President of TransCreditBank, Mr Pushkin: “We are sure that the cooperation will be long-term and mutually beneficial. We are grateful for assistance in development of our cooperation to the Ministry of Transport of the Russian Federation with which we have a Strategic Partnership Agreement for implementation of various projects in the transport industry.”
EBRD Picks up Stake in FESCO
The European Bank for Reconstruction and Development has acquired a 3.8% stake in Far East Shipping Company for $120 million. EBRD acted as one of the co-investors with which FESCO placed additional shares equal to 20% of its charter capital. FESCO’s issue was fully subscribed, current shareholders bought back 44% of shares while Industrial Investors Group retained its controlling stake in FESCO. The share placement price was valued at $1.07 a share, which means the company raised more than $630 million from the placement of 590 million shares. EBRD also expects that participation in FESCO’s capital will improve the company’s corporate governance structure and expand the range of environmental procedures preparing the company for an equity offering abroad.
FESCO plans to invest the earned funds into realisation of its Strategic Development Programme to 2015. In particular, the company plans to use the money for concluding future contracts. For instance, a part of it was spent on purchasing 50% of OOO Vladivostok Container Terminal from N-Trans Group of companies.
FESCO has not published its investment programme to 2015, but the sum to be invested to 2011 is USD 1.3 billion, including USD 200-300 million for construction of railway container terminals.
Grain Operator Comes to Russian Railways
The Board of Directors of OAO RZD approved the participation of OAO The First Cargo Company in the establishment of ZAO Rusagrotrans.
Rusagrotrans is launched to organise effective railway transportation of grain. Nowadays, approximately 22 million tons of grain is carried by railway, equivalent to 30% of the harvest.
The main activity of ZAO Rusagrotrans will be transportation of grain in its own railcars. Additional services provided by the company will include reception, preparation and loading of grain at the terminal elevators to be created by ZAO Rusagrotrans.
The founders of ZAO Rusagrotrans will be OAO The First Cargo Company and OOO Russian Transport Company (OOO Rustranscom). The authorised capital of the new company will exceed RUR 7.5 billion. It will be formed at the expense of OAO The First Cargo Company’s property – 7,997 wagons for grain transportation for the total sum of RUR 3.8 billion and the monetary funds of OOO Rustranscom (approximately RUR 3.7 billion).
The shareholdings of The First Cargo Company and Rustranscom will be 51% and 49% respectively.
The strategy of ZAO Rusagrotrans envisages defining the areas of the freight railway transport market where route trains may be put into operation.
The activity of the new company will aim to reach the following targets:
- development of a network for grain transportation by route trains from where large volume of the cargo is dispatched (more than 1 million tons per annum) to a destination point;
- consolidation of grain loading in several departure points. Five new modern terminal elevators are to be built on the sites where mass loading of grain onto trains takes place;
- participation in modernisation of the infrastructure of 17 existing elevators at the North-Caucasus, South-Eastern, Moscow and October railways to form route trains of 50-75 wagons loaded with grain. Moves to register trains in under a day;
- optimisation of the rolling stock given to the company’s authorised capital as well as new assets.
Russia and Byelorussia Aspire To a Single Transport System
The RF Ministry of Transport and the Ministry of Transport and Communication of Byelorussia plan to sign a document on the establishment of a single market for road transport services.
Vladimir Sosnovsky, Byelorussian Minister of Transport and Communication, said at a meeting of the Coordinating Committee to form and support a unified transport system of the Union State, “We have synchronised transport systems, especially on the railways, and before the end of the year we are going to sign a document to establish a single road transport services market.”
The final result of the joint work of Byelorussian and Russian transport ministries must be the creation of a single transport system in Russia and the Republic of Belarus, he added.
He emphasised that the efforts of the two states must focus on improving the efficiency of rolling stock as well as the level of transport services in the framework of the Union State. “An important part of our work was adoption of the plan of measures to form the united transport system in the Union State,” said Mr Sosnovsky. Intergovernmental agreements on a single price policy on the railways were also signed.
Igor Levitin, Russian Transport Minister, stated that the committee would pay special attention to border crossings. He said that, by 2015, the Brest-Moscow transport corridor (M1 motorway) will be one of the most safe and effective for road transportation.
“We are close to creation of a single transport system of the Union State, but it is not us who define the tax and the customs policies, which slow down its establishment. We are going to apply to the Government of the Union State to solve the problem,” highlighted Mr Sosnovsky.
Direct Line from Russia to Turkmenistan
“An agreement on the launch of railway and ferry communication via the port of Astrakhan water transport junction to Turkmenistan is being prepared,” said Dmitry Medvedev, the RF President, after negotiations with the Turkmen President in early July.
In his turn, Gurbanguly Berdymuhammedov, President of Turkmenistan thanked the Russian party for supporting the Turkmen initiative to construct a railway Kazakhstan – Turkmenistan – Iran with a route out to the ports of the Persian Gulf and southern Europe.
New Tariffs Come in Force
By decree of the Federal Tariff Service of the Russian Federation, tariffs on railway freight transportation increased by 8% from July 1, 2008.
Considering the process of tariff unification, the tariff on export cargo transportation to Russian ports increased by 10%. The tariffs on cargo transportation via onland border crossings remained the same as well as the acting privileged tariffs on fuel oil and thermal coal transportation to enterprises in the Far East and Arkhangelsk region.
The ratio of growth of tariffs on railway transportation is falling behind the increase in prices in the industry, which in 2003-2007 stipulated the decline of the transport constituent level from 18.2% to 13.4% on average.
The RF Government Asks Banks to Manage Transport Projects
The Russian Ministry of Transport has given financial institutions, in particular banks, the opportunity to take upon themselves management of infrastructure projects, said Igor Levitin, the RF Transport Minister, at the XII International Saint Petersburg Economic Forum. He noted that to put this offer into practice, amendments to legislation were necessary. Meanwhile, such a mechanism will provide stable project financing, which requires significant long-term loans.
For instance, if banks participate more actively in infrastructure construction, it will be possible to pay a contractor the whole sum necessary to fulfill works.
Mr Levitin highlighted that the federal target programme “Russian Transport System Development in 2010-2015” gives investors and the industry clear indications of the sums and the projects into which the state is going to invest.
[~DETAIL_TEXT] => Contract for the Lease of Rail Infrastructure on Tumangan and Rajin Stretch Concluded
On August 6 in Pyongyang, OAO RZD signed a 49-year contract for the lease of rail infrastructure on the stretch between Tumangan and Rajin and concluded an agreement to start reconstruction of the railways and the building of a container terminal at the port of Rajin. This followed talks on August 5-6 in Pyongyang between Russian Railways, the Russian-Korean joint venture RasonKonTrans and the Railway Transport Company Tonhe from North Korea’s Ministry of Railways.
The parties agreed to organise a ceremony on the commencement of work on the reconstruction of the railway line between Tumangan - Rajin and the construction of the Rajin terminal before the end of 2008.
It was also agreed to explore the possibility of reconstructing the railway line in North Korea between Rajin and Namyan on the border with China in order to organise the transit of freight with China. The parties consider this area to be very promising and it could become the next phase in the implementation of the Khassan - Rajin project.
As a result of the negotiations, a Board of Directors of the joint venture RasonKonTrans was formed and held its first meeting, during which senior officials were elected to the Board Council and topical issues agreed relating to the organisation and management of the joint venture.
TransCreditBank and Transstroy Sign a Cooperation Agreement
On May 23, 2008, Yury Reilyan CEO of Transstroi Design and Construction Company LLC and Sergey Pushkin, President of JSC TransCreditBank signed a cooperation agreement providing long-term relations between the company and the bank. The document was executed and delivered during International Transport Forum “Russia’s Transport - 2008” in Sochi.
Pursuant to this agreement the parties will focus on implementation of infrastructure projects under programs endorsed by the RF’s Ministry of Transport and Ministry for Regional Development.
TransCreditBank is to provide loans of different tenure, issue bank guarantees to Transstroi for fulfillment of building contracts, and support bidding at tenders, auctions and competitions. The parties will jointly develop and implement project finance schemes for capital-intensive projects including those based on concession laws. In the interests of its partner the bank will finance delivery of equipment, machinery and vehicles on leasing terms, including raising funds on the international markets against ECA guarantees. The parties also plan to cooperate in other areas of mutual interest.
To quote Mr Reilyan, CEO of Transstroi: “The agreement is a framework agreement intended to raise funds for development of infrastructure across the whole of Russia. Proceeds are to be used to upgrade the existing network and to create new infrastructure – motorways, railroads, waterworks and airports.”
To quote the President of TransCreditBank, Mr Pushkin: “We are sure that the cooperation will be long-term and mutually beneficial. We are grateful for assistance in development of our cooperation to the Ministry of Transport of the Russian Federation with which we have a Strategic Partnership Agreement for implementation of various projects in the transport industry.”
EBRD Picks up Stake in FESCO
The European Bank for Reconstruction and Development has acquired a 3.8% stake in Far East Shipping Company for $120 million. EBRD acted as one of the co-investors with which FESCO placed additional shares equal to 20% of its charter capital. FESCO’s issue was fully subscribed, current shareholders bought back 44% of shares while Industrial Investors Group retained its controlling stake in FESCO. The share placement price was valued at $1.07 a share, which means the company raised more than $630 million from the placement of 590 million shares. EBRD also expects that participation in FESCO’s capital will improve the company’s corporate governance structure and expand the range of environmental procedures preparing the company for an equity offering abroad.
FESCO plans to invest the earned funds into realisation of its Strategic Development Programme to 2015. In particular, the company plans to use the money for concluding future contracts. For instance, a part of it was spent on purchasing 50% of OOO Vladivostok Container Terminal from N-Trans Group of companies.
FESCO has not published its investment programme to 2015, but the sum to be invested to 2011 is USD 1.3 billion, including USD 200-300 million for construction of railway container terminals.
Grain Operator Comes to Russian Railways
The Board of Directors of OAO RZD approved the participation of OAO The First Cargo Company in the establishment of ZAO Rusagrotrans.
Rusagrotrans is launched to organise effective railway transportation of grain. Nowadays, approximately 22 million tons of grain is carried by railway, equivalent to 30% of the harvest.
The main activity of ZAO Rusagrotrans will be transportation of grain in its own railcars. Additional services provided by the company will include reception, preparation and loading of grain at the terminal elevators to be created by ZAO Rusagrotrans.
The founders of ZAO Rusagrotrans will be OAO The First Cargo Company and OOO Russian Transport Company (OOO Rustranscom). The authorised capital of the new company will exceed RUR 7.5 billion. It will be formed at the expense of OAO The First Cargo Company’s property – 7,997 wagons for grain transportation for the total sum of RUR 3.8 billion and the monetary funds of OOO Rustranscom (approximately RUR 3.7 billion).
The shareholdings of The First Cargo Company and Rustranscom will be 51% and 49% respectively.
The strategy of ZAO Rusagrotrans envisages defining the areas of the freight railway transport market where route trains may be put into operation.
The activity of the new company will aim to reach the following targets:
- development of a network for grain transportation by route trains from where large volume of the cargo is dispatched (more than 1 million tons per annum) to a destination point;
- consolidation of grain loading in several departure points. Five new modern terminal elevators are to be built on the sites where mass loading of grain onto trains takes place;
- participation in modernisation of the infrastructure of 17 existing elevators at the North-Caucasus, South-Eastern, Moscow and October railways to form route trains of 50-75 wagons loaded with grain. Moves to register trains in under a day;
- optimisation of the rolling stock given to the company’s authorised capital as well as new assets.
Russia and Byelorussia Aspire To a Single Transport System
The RF Ministry of Transport and the Ministry of Transport and Communication of Byelorussia plan to sign a document on the establishment of a single market for road transport services.
Vladimir Sosnovsky, Byelorussian Minister of Transport and Communication, said at a meeting of the Coordinating Committee to form and support a unified transport system of the Union State, “We have synchronised transport systems, especially on the railways, and before the end of the year we are going to sign a document to establish a single road transport services market.”
The final result of the joint work of Byelorussian and Russian transport ministries must be the creation of a single transport system in Russia and the Republic of Belarus, he added.
He emphasised that the efforts of the two states must focus on improving the efficiency of rolling stock as well as the level of transport services in the framework of the Union State. “An important part of our work was adoption of the plan of measures to form the united transport system in the Union State,” said Mr Sosnovsky. Intergovernmental agreements on a single price policy on the railways were also signed.
Igor Levitin, Russian Transport Minister, stated that the committee would pay special attention to border crossings. He said that, by 2015, the Brest-Moscow transport corridor (M1 motorway) will be one of the most safe and effective for road transportation.
“We are close to creation of a single transport system of the Union State, but it is not us who define the tax and the customs policies, which slow down its establishment. We are going to apply to the Government of the Union State to solve the problem,” highlighted Mr Sosnovsky.
Direct Line from Russia to Turkmenistan
“An agreement on the launch of railway and ferry communication via the port of Astrakhan water transport junction to Turkmenistan is being prepared,” said Dmitry Medvedev, the RF President, after negotiations with the Turkmen President in early July.
In his turn, Gurbanguly Berdymuhammedov, President of Turkmenistan thanked the Russian party for supporting the Turkmen initiative to construct a railway Kazakhstan – Turkmenistan – Iran with a route out to the ports of the Persian Gulf and southern Europe.
New Tariffs Come in Force
By decree of the Federal Tariff Service of the Russian Federation, tariffs on railway freight transportation increased by 8% from July 1, 2008.
Considering the process of tariff unification, the tariff on export cargo transportation to Russian ports increased by 10%. The tariffs on cargo transportation via onland border crossings remained the same as well as the acting privileged tariffs on fuel oil and thermal coal transportation to enterprises in the Far East and Arkhangelsk region.
The ratio of growth of tariffs on railway transportation is falling behind the increase in prices in the industry, which in 2003-2007 stipulated the decline of the transport constituent level from 18.2% to 13.4% on average.
The RF Government Asks Banks to Manage Transport Projects
The Russian Ministry of Transport has given financial institutions, in particular banks, the opportunity to take upon themselves management of infrastructure projects, said Igor Levitin, the RF Transport Minister, at the XII International Saint Petersburg Economic Forum. He noted that to put this offer into practice, amendments to legislation were necessary. Meanwhile, such a mechanism will provide stable project financing, which requires significant long-term loans.
For instance, if banks participate more actively in infrastructure construction, it will be possible to pay a contractor the whole sum necessary to fulfill works.
Mr Levitin highlighted that the federal target programme “Russian Transport System Development in 2010-2015” gives investors and the industry clear indications of the sums and the projects into which the state is going to invest.
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[DETAIL_TEXT] => Contract for the Lease of Rail Infrastructure on Tumangan and Rajin Stretch Concluded
On August 6 in Pyongyang, OAO RZD signed a 49-year contract for the lease of rail infrastructure on the stretch between Tumangan and Rajin and concluded an agreement to start reconstruction of the railways and the building of a container terminal at the port of Rajin. This followed talks on August 5-6 in Pyongyang between Russian Railways, the Russian-Korean joint venture RasonKonTrans and the Railway Transport Company Tonhe from North Korea’s Ministry of Railways.
The parties agreed to organise a ceremony on the commencement of work on the reconstruction of the railway line between Tumangan - Rajin and the construction of the Rajin terminal before the end of 2008.
It was also agreed to explore the possibility of reconstructing the railway line in North Korea between Rajin and Namyan on the border with China in order to organise the transit of freight with China. The parties consider this area to be very promising and it could become the next phase in the implementation of the Khassan - Rajin project.
As a result of the negotiations, a Board of Directors of the joint venture RasonKonTrans was formed and held its first meeting, during which senior officials were elected to the Board Council and topical issues agreed relating to the organisation and management of the joint venture.
TransCreditBank and Transstroy Sign a Cooperation Agreement
On May 23, 2008, Yury Reilyan CEO of Transstroi Design and Construction Company LLC and Sergey Pushkin, President of JSC TransCreditBank signed a cooperation agreement providing long-term relations between the company and the bank. The document was executed and delivered during International Transport Forum “Russia’s Transport - 2008” in Sochi.
Pursuant to this agreement the parties will focus on implementation of infrastructure projects under programs endorsed by the RF’s Ministry of Transport and Ministry for Regional Development.
TransCreditBank is to provide loans of different tenure, issue bank guarantees to Transstroi for fulfillment of building contracts, and support bidding at tenders, auctions and competitions. The parties will jointly develop and implement project finance schemes for capital-intensive projects including those based on concession laws. In the interests of its partner the bank will finance delivery of equipment, machinery and vehicles on leasing terms, including raising funds on the international markets against ECA guarantees. The parties also plan to cooperate in other areas of mutual interest.
To quote Mr Reilyan, CEO of Transstroi: “The agreement is a framework agreement intended to raise funds for development of infrastructure across the whole of Russia. Proceeds are to be used to upgrade the existing network and to create new infrastructure – motorways, railroads, waterworks and airports.”
To quote the President of TransCreditBank, Mr Pushkin: “We are sure that the cooperation will be long-term and mutually beneficial. We are grateful for assistance in development of our cooperation to the Ministry of Transport of the Russian Federation with which we have a Strategic Partnership Agreement for implementation of various projects in the transport industry.”
EBRD Picks up Stake in FESCO
The European Bank for Reconstruction and Development has acquired a 3.8% stake in Far East Shipping Company for $120 million. EBRD acted as one of the co-investors with which FESCO placed additional shares equal to 20% of its charter capital. FESCO’s issue was fully subscribed, current shareholders bought back 44% of shares while Industrial Investors Group retained its controlling stake in FESCO. The share placement price was valued at $1.07 a share, which means the company raised more than $630 million from the placement of 590 million shares. EBRD also expects that participation in FESCO’s capital will improve the company’s corporate governance structure and expand the range of environmental procedures preparing the company for an equity offering abroad.
FESCO plans to invest the earned funds into realisation of its Strategic Development Programme to 2015. In particular, the company plans to use the money for concluding future contracts. For instance, a part of it was spent on purchasing 50% of OOO Vladivostok Container Terminal from N-Trans Group of companies.
FESCO has not published its investment programme to 2015, but the sum to be invested to 2011 is USD 1.3 billion, including USD 200-300 million for construction of railway container terminals.
Grain Operator Comes to Russian Railways
The Board of Directors of OAO RZD approved the participation of OAO The First Cargo Company in the establishment of ZAO Rusagrotrans.
Rusagrotrans is launched to organise effective railway transportation of grain. Nowadays, approximately 22 million tons of grain is carried by railway, equivalent to 30% of the harvest.
The main activity of ZAO Rusagrotrans will be transportation of grain in its own railcars. Additional services provided by the company will include reception, preparation and loading of grain at the terminal elevators to be created by ZAO Rusagrotrans.
The founders of ZAO Rusagrotrans will be OAO The First Cargo Company and OOO Russian Transport Company (OOO Rustranscom). The authorised capital of the new company will exceed RUR 7.5 billion. It will be formed at the expense of OAO The First Cargo Company’s property – 7,997 wagons for grain transportation for the total sum of RUR 3.8 billion and the monetary funds of OOO Rustranscom (approximately RUR 3.7 billion).
The shareholdings of The First Cargo Company and Rustranscom will be 51% and 49% respectively.
The strategy of ZAO Rusagrotrans envisages defining the areas of the freight railway transport market where route trains may be put into operation.
The activity of the new company will aim to reach the following targets:
- development of a network for grain transportation by route trains from where large volume of the cargo is dispatched (more than 1 million tons per annum) to a destination point;
- consolidation of grain loading in several departure points. Five new modern terminal elevators are to be built on the sites where mass loading of grain onto trains takes place;
- participation in modernisation of the infrastructure of 17 existing elevators at the North-Caucasus, South-Eastern, Moscow and October railways to form route trains of 50-75 wagons loaded with grain. Moves to register trains in under a day;
- optimisation of the rolling stock given to the company’s authorised capital as well as new assets.
Russia and Byelorussia Aspire To a Single Transport System
The RF Ministry of Transport and the Ministry of Transport and Communication of Byelorussia plan to sign a document on the establishment of a single market for road transport services.
Vladimir Sosnovsky, Byelorussian Minister of Transport and Communication, said at a meeting of the Coordinating Committee to form and support a unified transport system of the Union State, “We have synchronised transport systems, especially on the railways, and before the end of the year we are going to sign a document to establish a single road transport services market.”
The final result of the joint work of Byelorussian and Russian transport ministries must be the creation of a single transport system in Russia and the Republic of Belarus, he added.
He emphasised that the efforts of the two states must focus on improving the efficiency of rolling stock as well as the level of transport services in the framework of the Union State. “An important part of our work was adoption of the plan of measures to form the united transport system in the Union State,” said Mr Sosnovsky. Intergovernmental agreements on a single price policy on the railways were also signed.
Igor Levitin, Russian Transport Minister, stated that the committee would pay special attention to border crossings. He said that, by 2015, the Brest-Moscow transport corridor (M1 motorway) will be one of the most safe and effective for road transportation.
“We are close to creation of a single transport system of the Union State, but it is not us who define the tax and the customs policies, which slow down its establishment. We are going to apply to the Government of the Union State to solve the problem,” highlighted Mr Sosnovsky.
Direct Line from Russia to Turkmenistan
“An agreement on the launch of railway and ferry communication via the port of Astrakhan water transport junction to Turkmenistan is being prepared,” said Dmitry Medvedev, the RF President, after negotiations with the Turkmen President in early July.
In his turn, Gurbanguly Berdymuhammedov, President of Turkmenistan thanked the Russian party for supporting the Turkmen initiative to construct a railway Kazakhstan – Turkmenistan – Iran with a route out to the ports of the Persian Gulf and southern Europe.
New Tariffs Come in Force
By decree of the Federal Tariff Service of the Russian Federation, tariffs on railway freight transportation increased by 8% from July 1, 2008.
Considering the process of tariff unification, the tariff on export cargo transportation to Russian ports increased by 10%. The tariffs on cargo transportation via onland border crossings remained the same as well as the acting privileged tariffs on fuel oil and thermal coal transportation to enterprises in the Far East and Arkhangelsk region.
The ratio of growth of tariffs on railway transportation is falling behind the increase in prices in the industry, which in 2003-2007 stipulated the decline of the transport constituent level from 18.2% to 13.4% on average.
The RF Government Asks Banks to Manage Transport Projects
The Russian Ministry of Transport has given financial institutions, in particular banks, the opportunity to take upon themselves management of infrastructure projects, said Igor Levitin, the RF Transport Minister, at the XII International Saint Petersburg Economic Forum. He noted that to put this offer into practice, amendments to legislation were necessary. Meanwhile, such a mechanism will provide stable project financing, which requires significant long-term loans.
For instance, if banks participate more actively in infrastructure construction, it will be possible to pay a contractor the whole sum necessary to fulfill works.
Mr Levitin highlighted that the federal target programme “Russian Transport System Development in 2010-2015” gives investors and the industry clear indications of the sums and the projects into which the state is going to invest.
[~DETAIL_TEXT] => Contract for the Lease of Rail Infrastructure on Tumangan and Rajin Stretch Concluded
On August 6 in Pyongyang, OAO RZD signed a 49-year contract for the lease of rail infrastructure on the stretch between Tumangan and Rajin and concluded an agreement to start reconstruction of the railways and the building of a container terminal at the port of Rajin. This followed talks on August 5-6 in Pyongyang between Russian Railways, the Russian-Korean joint venture RasonKonTrans and the Railway Transport Company Tonhe from North Korea’s Ministry of Railways.
The parties agreed to organise a ceremony on the commencement of work on the reconstruction of the railway line between Tumangan - Rajin and the construction of the Rajin terminal before the end of 2008.
It was also agreed to explore the possibility of reconstructing the railway line in North Korea between Rajin and Namyan on the border with China in order to organise the transit of freight with China. The parties consider this area to be very promising and it could become the next phase in the implementation of the Khassan - Rajin project.
As a result of the negotiations, a Board of Directors of the joint venture RasonKonTrans was formed and held its first meeting, during which senior officials were elected to the Board Council and topical issues agreed relating to the organisation and management of the joint venture.
TransCreditBank and Transstroy Sign a Cooperation Agreement
On May 23, 2008, Yury Reilyan CEO of Transstroi Design and Construction Company LLC and Sergey Pushkin, President of JSC TransCreditBank signed a cooperation agreement providing long-term relations between the company and the bank. The document was executed and delivered during International Transport Forum “Russia’s Transport - 2008” in Sochi.
Pursuant to this agreement the parties will focus on implementation of infrastructure projects under programs endorsed by the RF’s Ministry of Transport and Ministry for Regional Development.
TransCreditBank is to provide loans of different tenure, issue bank guarantees to Transstroi for fulfillment of building contracts, and support bidding at tenders, auctions and competitions. The parties will jointly develop and implement project finance schemes for capital-intensive projects including those based on concession laws. In the interests of its partner the bank will finance delivery of equipment, machinery and vehicles on leasing terms, including raising funds on the international markets against ECA guarantees. The parties also plan to cooperate in other areas of mutual interest.
To quote Mr Reilyan, CEO of Transstroi: “The agreement is a framework agreement intended to raise funds for development of infrastructure across the whole of Russia. Proceeds are to be used to upgrade the existing network and to create new infrastructure – motorways, railroads, waterworks and airports.”
To quote the President of TransCreditBank, Mr Pushkin: “We are sure that the cooperation will be long-term and mutually beneficial. We are grateful for assistance in development of our cooperation to the Ministry of Transport of the Russian Federation with which we have a Strategic Partnership Agreement for implementation of various projects in the transport industry.”
EBRD Picks up Stake in FESCO
The European Bank for Reconstruction and Development has acquired a 3.8% stake in Far East Shipping Company for $120 million. EBRD acted as one of the co-investors with which FESCO placed additional shares equal to 20% of its charter capital. FESCO’s issue was fully subscribed, current shareholders bought back 44% of shares while Industrial Investors Group retained its controlling stake in FESCO. The share placement price was valued at $1.07 a share, which means the company raised more than $630 million from the placement of 590 million shares. EBRD also expects that participation in FESCO’s capital will improve the company’s corporate governance structure and expand the range of environmental procedures preparing the company for an equity offering abroad.
FESCO plans to invest the earned funds into realisation of its Strategic Development Programme to 2015. In particular, the company plans to use the money for concluding future contracts. For instance, a part of it was spent on purchasing 50% of OOO Vladivostok Container Terminal from N-Trans Group of companies.
FESCO has not published its investment programme to 2015, but the sum to be invested to 2011 is USD 1.3 billion, including USD 200-300 million for construction of railway container terminals.
Grain Operator Comes to Russian Railways
The Board of Directors of OAO RZD approved the participation of OAO The First Cargo Company in the establishment of ZAO Rusagrotrans.
Rusagrotrans is launched to organise effective railway transportation of grain. Nowadays, approximately 22 million tons of grain is carried by railway, equivalent to 30% of the harvest.
The main activity of ZAO Rusagrotrans will be transportation of grain in its own railcars. Additional services provided by the company will include reception, preparation and loading of grain at the terminal elevators to be created by ZAO Rusagrotrans.
The founders of ZAO Rusagrotrans will be OAO The First Cargo Company and OOO Russian Transport Company (OOO Rustranscom). The authorised capital of the new company will exceed RUR 7.5 billion. It will be formed at the expense of OAO The First Cargo Company’s property – 7,997 wagons for grain transportation for the total sum of RUR 3.8 billion and the monetary funds of OOO Rustranscom (approximately RUR 3.7 billion).
The shareholdings of The First Cargo Company and Rustranscom will be 51% and 49% respectively.
The strategy of ZAO Rusagrotrans envisages defining the areas of the freight railway transport market where route trains may be put into operation.
The activity of the new company will aim to reach the following targets:
- development of a network for grain transportation by route trains from where large volume of the cargo is dispatched (more than 1 million tons per annum) to a destination point;
- consolidation of grain loading in several departure points. Five new modern terminal elevators are to be built on the sites where mass loading of grain onto trains takes place;
- participation in modernisation of the infrastructure of 17 existing elevators at the North-Caucasus, South-Eastern, Moscow and October railways to form route trains of 50-75 wagons loaded with grain. Moves to register trains in under a day;
- optimisation of the rolling stock given to the company’s authorised capital as well as new assets.
Russia and Byelorussia Aspire To a Single Transport System
The RF Ministry of Transport and the Ministry of Transport and Communication of Byelorussia plan to sign a document on the establishment of a single market for road transport services.
Vladimir Sosnovsky, Byelorussian Minister of Transport and Communication, said at a meeting of the Coordinating Committee to form and support a unified transport system of the Union State, “We have synchronised transport systems, especially on the railways, and before the end of the year we are going to sign a document to establish a single road transport services market.”
The final result of the joint work of Byelorussian and Russian transport ministries must be the creation of a single transport system in Russia and the Republic of Belarus, he added.
He emphasised that the efforts of the two states must focus on improving the efficiency of rolling stock as well as the level of transport services in the framework of the Union State. “An important part of our work was adoption of the plan of measures to form the united transport system in the Union State,” said Mr Sosnovsky. Intergovernmental agreements on a single price policy on the railways were also signed.
Igor Levitin, Russian Transport Minister, stated that the committee would pay special attention to border crossings. He said that, by 2015, the Brest-Moscow transport corridor (M1 motorway) will be one of the most safe and effective for road transportation.
“We are close to creation of a single transport system of the Union State, but it is not us who define the tax and the customs policies, which slow down its establishment. We are going to apply to the Government of the Union State to solve the problem,” highlighted Mr Sosnovsky.
Direct Line from Russia to Turkmenistan
“An agreement on the launch of railway and ferry communication via the port of Astrakhan water transport junction to Turkmenistan is being prepared,” said Dmitry Medvedev, the RF President, after negotiations with the Turkmen President in early July.
In his turn, Gurbanguly Berdymuhammedov, President of Turkmenistan thanked the Russian party for supporting the Turkmen initiative to construct a railway Kazakhstan – Turkmenistan – Iran with a route out to the ports of the Persian Gulf and southern Europe.
New Tariffs Come in Force
By decree of the Federal Tariff Service of the Russian Federation, tariffs on railway freight transportation increased by 8% from July 1, 2008.
Considering the process of tariff unification, the tariff on export cargo transportation to Russian ports increased by 10%. The tariffs on cargo transportation via onland border crossings remained the same as well as the acting privileged tariffs on fuel oil and thermal coal transportation to enterprises in the Far East and Arkhangelsk region.
The ratio of growth of tariffs on railway transportation is falling behind the increase in prices in the industry, which in 2003-2007 stipulated the decline of the transport constituent level from 18.2% to 13.4% on average.
The RF Government Asks Banks to Manage Transport Projects
The Russian Ministry of Transport has given financial institutions, in particular banks, the opportunity to take upon themselves management of infrastructure projects, said Igor Levitin, the RF Transport Minister, at the XII International Saint Petersburg Economic Forum. He noted that to put this offer into practice, amendments to legislation were necessary. Meanwhile, such a mechanism will provide stable project financing, which requires significant long-term loans.
For instance, if banks participate more actively in infrastructure construction, it will be possible to pay a contractor the whole sum necessary to fulfill works.
Mr Levitin highlighted that the federal target programme “Russian Transport System Development in 2010-2015” gives investors and the industry clear indications of the sums and the projects into which the state is going to invest.
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The recent IPO of the largest private rail operator in Russia, Globaltrans Investment Ltd, has been widely accepted as a successful one. No doubt it will be followed by others who would like to get additional funds from stock markets in London or Moscow. Mr Henry Posner III, Chairman of U.S. – based Railroad Development Corp (www.rrdc.com) and a former owner of Estonian Railways, shares his view on the situation.Array
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[DETAIL_TEXT] => – Mr Posner, the Globaltrans’ IPO was pretty successful, say industry experts. But happened, when the threat of a recession was making managers in banks and investment funds avoid spending money as they had done before. How can you explain the success of Globaltrans?
– With regard to the recent listing of Globaltrans, it is noteworthy that a company whose profile is relatively low in the West, and on whom there is limited information in the English language press, would attract so much attention. This suggests an appetite in the capital markets for both increased exposure to the Russian economy and exposure to the commodities markets: both have performed exceptionally well in the last few years. This also comes at a time when these shares of Western transportation companies are at an all-time high. All of this suggests that Globaltrans’ listing is well-timed.
– It is generally accepted that the strongly regulated rail industry in Russia provides rather little freedom for private operators, but gives a lot of risks. So, are investors ready to take such risks nowadays?
– My impression of the railway restructuring and regulatory environment in Russia is that the economic potential of a company which relies on RZD for use of its infrastructure will be subject to risks (and rewards!) of an unknown nature as the environment evolves. An additional consideration is how to value a company whose characteristics are more like a forwarder than an equipment leasing company or a vertically-integrated railway company: Pacer is one example of such a company in the USA, as a listed, asset-based forwarder (in other words an owner of its equipment). However, Pacer’s market is containers as opposed to the diversified, bulk traffic base that Globaltrans enjoys: in this respect it could be argued that Globaltrans’ franchise is the stronger of the two.
– In other words, it would be easier for operators to get funds if the environment was more transparent, with, say, one infrastructure owner (for example, RZD) and a few freight rail carriers competing with each other just like we see in Europe?
– While my comments might be taken by advocates of open access to mean that RZD’s current structure, which for the most part represents a vertically-integrated model, is in need of reform, I am not suggesting this at all. Rather, my impression is that the restructuring of RZD is being taken carefully and based on the experience of other environments such as North America and Western Europe…as it should be! I of course will advocate for the vertically-integrated North American model, but I also recognize that I am but one voice and perhaps more importantly am commenting from half a world away.
Interviewed by Ivan Stupachenko
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– It is generally accepted that the strongly regulated rail industry in Russia provides rather little freedom for private operators, but gives a lot of risks. So, are investors ready to take such risks nowadays?
– My impression of the railway restructuring and regulatory environment in Russia is that the economic potential of a company which relies on RZD for use of its infrastructure will be subject to risks (and rewards!) of an unknown nature as the environment evolves. An additional consideration is how to value a company whose characteristics are more like a forwarder than an equipment leasing company or a vertically-integrated railway company: Pacer is one example of such a company in the USA, as a listed, asset-based forwarder (in other words an owner of its equipment). However, Pacer’s market is containers as opposed to the diversified, bulk traffic base that Globaltrans enjoys: in this respect it could be argued that Globaltrans’ franchise is the stronger of the two.
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– While my comments might be taken by advocates of open access to mean that RZD’s current structure, which for the most part represents a vertically-integrated model, is in need of reform, I am not suggesting this at all. Rather, my impression is that the restructuring of RZD is being taken carefully and based on the experience of other environments such as North America and Western Europe…as it should be! I of course will advocate for the vertically-integrated North American model, but I also recognize that I am but one voice and perhaps more importantly am commenting from half a world away.
Interviewed by Ivan Stupachenko
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[DETAIL_TEXT] => – Mr Posner, the Globaltrans’ IPO was pretty successful, say industry experts. But happened, when the threat of a recession was making managers in banks and investment funds avoid spending money as they had done before. How can you explain the success of Globaltrans?
– With regard to the recent listing of Globaltrans, it is noteworthy that a company whose profile is relatively low in the West, and on whom there is limited information in the English language press, would attract so much attention. This suggests an appetite in the capital markets for both increased exposure to the Russian economy and exposure to the commodities markets: both have performed exceptionally well in the last few years. This also comes at a time when these shares of Western transportation companies are at an all-time high. All of this suggests that Globaltrans’ listing is well-timed.
– It is generally accepted that the strongly regulated rail industry in Russia provides rather little freedom for private operators, but gives a lot of risks. So, are investors ready to take such risks nowadays?
– My impression of the railway restructuring and regulatory environment in Russia is that the economic potential of a company which relies on RZD for use of its infrastructure will be subject to risks (and rewards!) of an unknown nature as the environment evolves. An additional consideration is how to value a company whose characteristics are more like a forwarder than an equipment leasing company or a vertically-integrated railway company: Pacer is one example of such a company in the USA, as a listed, asset-based forwarder (in other words an owner of its equipment). However, Pacer’s market is containers as opposed to the diversified, bulk traffic base that Globaltrans enjoys: in this respect it could be argued that Globaltrans’ franchise is the stronger of the two.
– In other words, it would be easier for operators to get funds if the environment was more transparent, with, say, one infrastructure owner (for example, RZD) and a few freight rail carriers competing with each other just like we see in Europe?
– While my comments might be taken by advocates of open access to mean that RZD’s current structure, which for the most part represents a vertically-integrated model, is in need of reform, I am not suggesting this at all. Rather, my impression is that the restructuring of RZD is being taken carefully and based on the experience of other environments such as North America and Western Europe…as it should be! I of course will advocate for the vertically-integrated North American model, but I also recognize that I am but one voice and perhaps more importantly am commenting from half a world away.
Interviewed by Ivan Stupachenko
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– It is generally accepted that the strongly regulated rail industry in Russia provides rather little freedom for private operators, but gives a lot of risks. So, are investors ready to take such risks nowadays?
– My impression of the railway restructuring and regulatory environment in Russia is that the economic potential of a company which relies on RZD for use of its infrastructure will be subject to risks (and rewards!) of an unknown nature as the environment evolves. An additional consideration is how to value a company whose characteristics are more like a forwarder than an equipment leasing company or a vertically-integrated railway company: Pacer is one example of such a company in the USA, as a listed, asset-based forwarder (in other words an owner of its equipment). However, Pacer’s market is containers as opposed to the diversified, bulk traffic base that Globaltrans enjoys: in this respect it could be argued that Globaltrans’ franchise is the stronger of the two.
– In other words, it would be easier for operators to get funds if the environment was more transparent, with, say, one infrastructure owner (for example, RZD) and a few freight rail carriers competing with each other just like we see in Europe?
– While my comments might be taken by advocates of open access to mean that RZD’s current structure, which for the most part represents a vertically-integrated model, is in need of reform, I am not suggesting this at all. Rather, my impression is that the restructuring of RZD is being taken carefully and based on the experience of other environments such as North America and Western Europe…as it should be! I of course will advocate for the vertically-integrated North American model, but I also recognize that I am but one voice and perhaps more importantly am commenting from half a world away.
Interviewed by Ivan Stupachenko
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A highly regulated industry with a low level of transparency in a country described in the Western press as a cradle of excessive bureaucracy and corruption. Add to this the ongoing global financial crisis and you will see the reason why a parade of IPOs of Russian rail operators suddenly looks a bit of unlikely. Despite all the problems RZD’s subsidiaries and independent companies are going to pull money from stock exchanges and some of them have already handled the task successfully.Array
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[DETAIL_TEXT] => Globaltrans: Financial Loco of Rail IPO Process
An analyst who I mentioned in the editorial said he had been recommending his clients buy shares in Globaltrans Investment Plc (see the company profile in the reference). The result has shown the recommendation was useful: the issue got them USD 449,5 million, thus becoming the leader among Russian IPOs this year.
What is incredible about this is that many buyers came not from Russia, but from several countries such as Switzerland, Great Britain, and the USA, says the head of Morgan Stanley’s Russian office, Yan Tarvonsky, who added that there were “195 meetings with investors.” Not surprisingly, the European bank for reconstruction and development acquired a 2-3% stake, this financial institution has been working in Russia for years, and through its participation in the equity capital of TransContainer has a good picture of what is going on in the country’s rail sector; but what about western investors that are not familiar with the industry?
It’s a field where even complain of a lack of sufficient information and sustainability, where private business emerged only recently, and where its major player, OAO RZD, had been a government body in the guise of Ministry of Railways until 2003.
Another important fact to be considered: Globaltrans announced its IPO only a month before selling its shares. Probably, the company held negotiations with investor to hear their opinions and intentions and the “primaries” obviously showed that they were ready to bring money.
Analysts say that the IPO’s results were influenced by several factors that helped the issuer raise large funds. In the light of the US mortgage crisis investors became very cautious in spending money, but they needed to spend nonetheless. All the more, some money withdrawn from shares and commodities, was turned into cash which meant their devaluation because of inflation.
Since stock markets are suffering from unsustainability and unpredictability, commodities are overpriced and also don’t promise a calm future, so hedge funds, banks and others are forced to seek new niches and markets.
A continuous economic growth in Russia, one of the leading global suppliers of oil, gas, coal and metals, means that cargo flows are not likely to suffer. Another factor is a very small choice of what to buy. Thus Globaltrans in May 2008 was the best answer for investors to two questions: where and what. A third question, “how much?” was negotiated with the issuer and bankers and as we can see the answer was satisfactory for all parties.
Mikhail Sayno, an analyst with BrokerCreditService, says that investors paid attention to the financial and operating results of Globaltrans which are improving further, and not to risks common to rail operators due to poor legislation. Evgeny Shago, the head of the analytical department of investment company Ingosstrah-Investments says that “there was nothing more to buy, therefore there were those who wanted to buy Globaltrans’ shares. Another factor here is that rail operators have strength in the rail sector which stimulates their growth further.”
For those thinking of buying shares in rail operators in Russia the most important conclusion from this story is that the private sector has always been drawn to the industry and even strong regulation as well as a trend towards an increase in state activity in the national economy cannot do anything about it. Nowadays operators own more than one third of wagons in the country, so their business cannot be stopped or even severely damaged. This is a strength to be reckoned with, this movement is becoming increasingly powerful and profitable, so it is believed to be in the long term.
Who is next?
To return to the markets. They are falling, oil prices are not stable the Federal Reserve is showing signs of alarm, and the answers “where to buy?” and “what to buy?” are still unanswered. Managing directors of investment funds are in a difficult situation, trying to understand how to spend lenders’ money without running the risk of being fired. At the same, time Globaltrans gave a sign to its colleagues that the path to the London Stock Exchange is not very scary, and that investors are friendly, though they ask many questions, so funds to develop businesses can be raised fairly easily.
OAO TransContainer, a subsidiary of RZD, a leading supplier of container transportation in Russia’s railways plans to go to the exchange this autumn. In 2007, the company already sold a 9% stake to the European bank for reconstruction and development for almost USD 220 million (at current rates) and 6% to other investors through a private deal. A representative of the bank said that the deal was “the best we could do.” Interestingly, the EBRD was not very fast to agree to buy: Vladimir Yakunin, President of RZD, said he had had to spend much time and effort to convince the bankers of the necessity of the deal.
In the second stage, TransContainer is planning an IPO to offer a stake of 15%, and RZD hopes to get as much as USD 356 million for it. Another 19% will be sold through a secondary public offering.
While the issuer itself has entered “a period of silence,” analysts are ready to comment that the planned IPO will be successful. “The Russian rail sector is rather well known among investors through Globaltrans’ IPO and the sale of Transcontainer’s shares. “Rising oil prices are leading to increasing incomes for Russian transport companies, says Mikhail Lyamin, an analyst with The Bank of Moscow.
And there are more would-be issuers from the railway sector to come. Sergey Kirsanov, the head of economics and finance at RailTransAuto, (a joint venture of TransGroup AS and RZD, which specializes in transportation of cars) said that his company is considering the possibility of an IPO. ”We will do it because we see good prospects in this market,” – he said.
The First Cargo Company, another subsidiary of RZD, was initially thought up in 2006 and created in 2007 with plans of sell some of its shares publicly. According to the first deputy general of director of the FCC, Alexey Taycher, the company is planning an IPO at the end of 2009 (see his words in the sidebar in this article). Russian Minister of Transport Igor Levitin announced that the Second Cargo company, a “sister” of the FCC, may be created already in 2009, so its IPO may come already in 2011 or sometime later.
On the whole, RZD plans to raise USD 6 billion till 2010 through IPOs of its subsidiaries.
RZD Needs Funds. Why Not With The Help Of An IPO?
In May this year, a theme of lending money from stocks attracted new interest. The vice president for finance of RZD Fyodor Andreev announced that the company was also considering IPOs, and even concrete parameters were already under discussion: the carrier may sell a 25% stake. A possible price varies but it would be reasonable to refer to a value given by Mr Andreev: 25% of RZD for USD 25 billion.
The subject was under intense discussion at the 3rd International railway business-forum Strategic Partnership 1520 where president of RZD Mr Yakunin asked analysts’ opinions on the matter. A common thesis for all comments was that the carrier’s shares would undoubtedly be sold out, and that investors would be eager to buy.
Nowadays this idea seems to be little strange, and, to a large extent, impossible. RZD’s developments are regulated by the government, each step the company makes must be signed off by the Prime Minister or the President. Assets are not allowed to be privatised and sold.
The railways in Russia are of strategic importance, including in terms of national security. But from the other side there are a few serious factors to be considered. The most important of them is the Strategy of the Development of Railways in the Russian Federation to 2030. The policy envisages that about USD 520 billon is to be invested. USD 240 billion of that is a share of RZD. The company can undoubtedly borrow fund from debts markets by issuing bonds and going to banks. This way has proved efficient, which is not surprising for a company that has credit ratings higher than those of the country. But why not sell shares in a situation where the papers are guaranteed to be bought?
“The company is the biggest transport operator in the world, it holds almost a monopolistic position on one of the fastest growing markets with great potential,” – says Mr Lyamin from The Bank of Moscow. Mr Sayno notes that nowadays the price of USD 100 billion is fairly reasonable, but it’s difficult to forecast what the climate will be like in three years.
Resume
Russia’s rail sector is increasingly opening up to the international investment community in an attempt to secure funds for development. A healthy situation in the domestic economy as well as soaring prices for commodities exported from Russia are making stocks and bonds of transport companies attractive. Operators will be followed by service and construction rail-related businesses, which are undoubtedly profitable assets in the light of the growing domestic market and a lack of high quality services and infrastructure
by Ivan Stupachenko
Reference
Globaltrans Investment Plc amalgamates the assets of N-Trans Group: railway operator JSC Novaya Perevozochnaya Kompaniya (NPK) and rolling equipment owner JSC Sevtekhnotrance. The Cyprian Transportation Investment Holdings Limited owns 70% of Globaltrans; the former is controlled by N-Trans owners pari passu - Konstantin Nikolaev, Nikita Mishin and Andrey Filatov. Envesta Investment owns another 30%, which belongs Globaltrans director general Sergey Maltsev (51%) and the chairman of directors’ board Alexander Eliseev (49%). In 2007 Globaltrans earnings totaled USD 548,9 million, EBITDA - USD 157,4 million, net income - USD 78,5 million.
[~DETAIL_TEXT] => Globaltrans: Financial Loco of Rail IPO Process
An analyst who I mentioned in the editorial said he had been recommending his clients buy shares in Globaltrans Investment Plc (see the company profile in the reference). The result has shown the recommendation was useful: the issue got them USD 449,5 million, thus becoming the leader among Russian IPOs this year.
What is incredible about this is that many buyers came not from Russia, but from several countries such as Switzerland, Great Britain, and the USA, says the head of Morgan Stanley’s Russian office, Yan Tarvonsky, who added that there were “195 meetings with investors.” Not surprisingly, the European bank for reconstruction and development acquired a 2-3% stake, this financial institution has been working in Russia for years, and through its participation in the equity capital of TransContainer has a good picture of what is going on in the country’s rail sector; but what about western investors that are not familiar with the industry?
It’s a field where even complain of a lack of sufficient information and sustainability, where private business emerged only recently, and where its major player, OAO RZD, had been a government body in the guise of Ministry of Railways until 2003.
Another important fact to be considered: Globaltrans announced its IPO only a month before selling its shares. Probably, the company held negotiations with investor to hear their opinions and intentions and the “primaries” obviously showed that they were ready to bring money.
Analysts say that the IPO’s results were influenced by several factors that helped the issuer raise large funds. In the light of the US mortgage crisis investors became very cautious in spending money, but they needed to spend nonetheless. All the more, some money withdrawn from shares and commodities, was turned into cash which meant their devaluation because of inflation.
Since stock markets are suffering from unsustainability and unpredictability, commodities are overpriced and also don’t promise a calm future, so hedge funds, banks and others are forced to seek new niches and markets.
A continuous economic growth in Russia, one of the leading global suppliers of oil, gas, coal and metals, means that cargo flows are not likely to suffer. Another factor is a very small choice of what to buy. Thus Globaltrans in May 2008 was the best answer for investors to two questions: where and what. A third question, “how much?” was negotiated with the issuer and bankers and as we can see the answer was satisfactory for all parties.
Mikhail Sayno, an analyst with BrokerCreditService, says that investors paid attention to the financial and operating results of Globaltrans which are improving further, and not to risks common to rail operators due to poor legislation. Evgeny Shago, the head of the analytical department of investment company Ingosstrah-Investments says that “there was nothing more to buy, therefore there were those who wanted to buy Globaltrans’ shares. Another factor here is that rail operators have strength in the rail sector which stimulates their growth further.”
For those thinking of buying shares in rail operators in Russia the most important conclusion from this story is that the private sector has always been drawn to the industry and even strong regulation as well as a trend towards an increase in state activity in the national economy cannot do anything about it. Nowadays operators own more than one third of wagons in the country, so their business cannot be stopped or even severely damaged. This is a strength to be reckoned with, this movement is becoming increasingly powerful and profitable, so it is believed to be in the long term.
Who is next?
To return to the markets. They are falling, oil prices are not stable the Federal Reserve is showing signs of alarm, and the answers “where to buy?” and “what to buy?” are still unanswered. Managing directors of investment funds are in a difficult situation, trying to understand how to spend lenders’ money without running the risk of being fired. At the same, time Globaltrans gave a sign to its colleagues that the path to the London Stock Exchange is not very scary, and that investors are friendly, though they ask many questions, so funds to develop businesses can be raised fairly easily.
OAO TransContainer, a subsidiary of RZD, a leading supplier of container transportation in Russia’s railways plans to go to the exchange this autumn. In 2007, the company already sold a 9% stake to the European bank for reconstruction and development for almost USD 220 million (at current rates) and 6% to other investors through a private deal. A representative of the bank said that the deal was “the best we could do.” Interestingly, the EBRD was not very fast to agree to buy: Vladimir Yakunin, President of RZD, said he had had to spend much time and effort to convince the bankers of the necessity of the deal.
In the second stage, TransContainer is planning an IPO to offer a stake of 15%, and RZD hopes to get as much as USD 356 million for it. Another 19% will be sold through a secondary public offering.
While the issuer itself has entered “a period of silence,” analysts are ready to comment that the planned IPO will be successful. “The Russian rail sector is rather well known among investors through Globaltrans’ IPO and the sale of Transcontainer’s shares. “Rising oil prices are leading to increasing incomes for Russian transport companies, says Mikhail Lyamin, an analyst with The Bank of Moscow.
And there are more would-be issuers from the railway sector to come. Sergey Kirsanov, the head of economics and finance at RailTransAuto, (a joint venture of TransGroup AS and RZD, which specializes in transportation of cars) said that his company is considering the possibility of an IPO. ”We will do it because we see good prospects in this market,” – he said.
The First Cargo Company, another subsidiary of RZD, was initially thought up in 2006 and created in 2007 with plans of sell some of its shares publicly. According to the first deputy general of director of the FCC, Alexey Taycher, the company is planning an IPO at the end of 2009 (see his words in the sidebar in this article). Russian Minister of Transport Igor Levitin announced that the Second Cargo company, a “sister” of the FCC, may be created already in 2009, so its IPO may come already in 2011 or sometime later.
On the whole, RZD plans to raise USD 6 billion till 2010 through IPOs of its subsidiaries.
RZD Needs Funds. Why Not With The Help Of An IPO?
In May this year, a theme of lending money from stocks attracted new interest. The vice president for finance of RZD Fyodor Andreev announced that the company was also considering IPOs, and even concrete parameters were already under discussion: the carrier may sell a 25% stake. A possible price varies but it would be reasonable to refer to a value given by Mr Andreev: 25% of RZD for USD 25 billion.
The subject was under intense discussion at the 3rd International railway business-forum Strategic Partnership 1520 where president of RZD Mr Yakunin asked analysts’ opinions on the matter. A common thesis for all comments was that the carrier’s shares would undoubtedly be sold out, and that investors would be eager to buy.
Nowadays this idea seems to be little strange, and, to a large extent, impossible. RZD’s developments are regulated by the government, each step the company makes must be signed off by the Prime Minister or the President. Assets are not allowed to be privatised and sold.
The railways in Russia are of strategic importance, including in terms of national security. But from the other side there are a few serious factors to be considered. The most important of them is the Strategy of the Development of Railways in the Russian Federation to 2030. The policy envisages that about USD 520 billon is to be invested. USD 240 billion of that is a share of RZD. The company can undoubtedly borrow fund from debts markets by issuing bonds and going to banks. This way has proved efficient, which is not surprising for a company that has credit ratings higher than those of the country. But why not sell shares in a situation where the papers are guaranteed to be bought?
“The company is the biggest transport operator in the world, it holds almost a monopolistic position on one of the fastest growing markets with great potential,” – says Mr Lyamin from The Bank of Moscow. Mr Sayno notes that nowadays the price of USD 100 billion is fairly reasonable, but it’s difficult to forecast what the climate will be like in three years.
Resume
Russia’s rail sector is increasingly opening up to the international investment community in an attempt to secure funds for development. A healthy situation in the domestic economy as well as soaring prices for commodities exported from Russia are making stocks and bonds of transport companies attractive. Operators will be followed by service and construction rail-related businesses, which are undoubtedly profitable assets in the light of the growing domestic market and a lack of high quality services and infrastructure
by Ivan Stupachenko
Reference
Globaltrans Investment Plc amalgamates the assets of N-Trans Group: railway operator JSC Novaya Perevozochnaya Kompaniya (NPK) and rolling equipment owner JSC Sevtekhnotrance. The Cyprian Transportation Investment Holdings Limited owns 70% of Globaltrans; the former is controlled by N-Trans owners pari passu - Konstantin Nikolaev, Nikita Mishin and Andrey Filatov. Envesta Investment owns another 30%, which belongs Globaltrans director general Sergey Maltsev (51%) and the chairman of directors’ board Alexander Eliseev (49%). In 2007 Globaltrans earnings totaled USD 548,9 million, EBITDA - USD 157,4 million, net income - USD 78,5 million.
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[DETAIL_TEXT] => Globaltrans: Financial Loco of Rail IPO Process
An analyst who I mentioned in the editorial said he had been recommending his clients buy shares in Globaltrans Investment Plc (see the company profile in the reference). The result has shown the recommendation was useful: the issue got them USD 449,5 million, thus becoming the leader among Russian IPOs this year.
What is incredible about this is that many buyers came not from Russia, but from several countries such as Switzerland, Great Britain, and the USA, says the head of Morgan Stanley’s Russian office, Yan Tarvonsky, who added that there were “195 meetings with investors.” Not surprisingly, the European bank for reconstruction and development acquired a 2-3% stake, this financial institution has been working in Russia for years, and through its participation in the equity capital of TransContainer has a good picture of what is going on in the country’s rail sector; but what about western investors that are not familiar with the industry?
It’s a field where even complain of a lack of sufficient information and sustainability, where private business emerged only recently, and where its major player, OAO RZD, had been a government body in the guise of Ministry of Railways until 2003.
Another important fact to be considered: Globaltrans announced its IPO only a month before selling its shares. Probably, the company held negotiations with investor to hear their opinions and intentions and the “primaries” obviously showed that they were ready to bring money.
Analysts say that the IPO’s results were influenced by several factors that helped the issuer raise large funds. In the light of the US mortgage crisis investors became very cautious in spending money, but they needed to spend nonetheless. All the more, some money withdrawn from shares and commodities, was turned into cash which meant their devaluation because of inflation.
Since stock markets are suffering from unsustainability and unpredictability, commodities are overpriced and also don’t promise a calm future, so hedge funds, banks and others are forced to seek new niches and markets.
A continuous economic growth in Russia, one of the leading global suppliers of oil, gas, coal and metals, means that cargo flows are not likely to suffer. Another factor is a very small choice of what to buy. Thus Globaltrans in May 2008 was the best answer for investors to two questions: where and what. A third question, “how much?” was negotiated with the issuer and bankers and as we can see the answer was satisfactory for all parties.
Mikhail Sayno, an analyst with BrokerCreditService, says that investors paid attention to the financial and operating results of Globaltrans which are improving further, and not to risks common to rail operators due to poor legislation. Evgeny Shago, the head of the analytical department of investment company Ingosstrah-Investments says that “there was nothing more to buy, therefore there were those who wanted to buy Globaltrans’ shares. Another factor here is that rail operators have strength in the rail sector which stimulates their growth further.”
For those thinking of buying shares in rail operators in Russia the most important conclusion from this story is that the private sector has always been drawn to the industry and even strong regulation as well as a trend towards an increase in state activity in the national economy cannot do anything about it. Nowadays operators own more than one third of wagons in the country, so their business cannot be stopped or even severely damaged. This is a strength to be reckoned with, this movement is becoming increasingly powerful and profitable, so it is believed to be in the long term.
Who is next?
To return to the markets. They are falling, oil prices are not stable the Federal Reserve is showing signs of alarm, and the answers “where to buy?” and “what to buy?” are still unanswered. Managing directors of investment funds are in a difficult situation, trying to understand how to spend lenders’ money without running the risk of being fired. At the same, time Globaltrans gave a sign to its colleagues that the path to the London Stock Exchange is not very scary, and that investors are friendly, though they ask many questions, so funds to develop businesses can be raised fairly easily.
OAO TransContainer, a subsidiary of RZD, a leading supplier of container transportation in Russia’s railways plans to go to the exchange this autumn. In 2007, the company already sold a 9% stake to the European bank for reconstruction and development for almost USD 220 million (at current rates) and 6% to other investors through a private deal. A representative of the bank said that the deal was “the best we could do.” Interestingly, the EBRD was not very fast to agree to buy: Vladimir Yakunin, President of RZD, said he had had to spend much time and effort to convince the bankers of the necessity of the deal.
In the second stage, TransContainer is planning an IPO to offer a stake of 15%, and RZD hopes to get as much as USD 356 million for it. Another 19% will be sold through a secondary public offering.
While the issuer itself has entered “a period of silence,” analysts are ready to comment that the planned IPO will be successful. “The Russian rail sector is rather well known among investors through Globaltrans’ IPO and the sale of Transcontainer’s shares. “Rising oil prices are leading to increasing incomes for Russian transport companies, says Mikhail Lyamin, an analyst with The Bank of Moscow.
And there are more would-be issuers from the railway sector to come. Sergey Kirsanov, the head of economics and finance at RailTransAuto, (a joint venture of TransGroup AS and RZD, which specializes in transportation of cars) said that his company is considering the possibility of an IPO. ”We will do it because we see good prospects in this market,” – he said.
The First Cargo Company, another subsidiary of RZD, was initially thought up in 2006 and created in 2007 with plans of sell some of its shares publicly. According to the first deputy general of director of the FCC, Alexey Taycher, the company is planning an IPO at the end of 2009 (see his words in the sidebar in this article). Russian Minister of Transport Igor Levitin announced that the Second Cargo company, a “sister” of the FCC, may be created already in 2009, so its IPO may come already in 2011 or sometime later.
On the whole, RZD plans to raise USD 6 billion till 2010 through IPOs of its subsidiaries.
RZD Needs Funds. Why Not With The Help Of An IPO?
In May this year, a theme of lending money from stocks attracted new interest. The vice president for finance of RZD Fyodor Andreev announced that the company was also considering IPOs, and even concrete parameters were already under discussion: the carrier may sell a 25% stake. A possible price varies but it would be reasonable to refer to a value given by Mr Andreev: 25% of RZD for USD 25 billion.
The subject was under intense discussion at the 3rd International railway business-forum Strategic Partnership 1520 where president of RZD Mr Yakunin asked analysts’ opinions on the matter. A common thesis for all comments was that the carrier’s shares would undoubtedly be sold out, and that investors would be eager to buy.
Nowadays this idea seems to be little strange, and, to a large extent, impossible. RZD’s developments are regulated by the government, each step the company makes must be signed off by the Prime Minister or the President. Assets are not allowed to be privatised and sold.
The railways in Russia are of strategic importance, including in terms of national security. But from the other side there are a few serious factors to be considered. The most important of them is the Strategy of the Development of Railways in the Russian Federation to 2030. The policy envisages that about USD 520 billon is to be invested. USD 240 billion of that is a share of RZD. The company can undoubtedly borrow fund from debts markets by issuing bonds and going to banks. This way has proved efficient, which is not surprising for a company that has credit ratings higher than those of the country. But why not sell shares in a situation where the papers are guaranteed to be bought?
“The company is the biggest transport operator in the world, it holds almost a monopolistic position on one of the fastest growing markets with great potential,” – says Mr Lyamin from The Bank of Moscow. Mr Sayno notes that nowadays the price of USD 100 billion is fairly reasonable, but it’s difficult to forecast what the climate will be like in three years.
Resume
Russia’s rail sector is increasingly opening up to the international investment community in an attempt to secure funds for development. A healthy situation in the domestic economy as well as soaring prices for commodities exported from Russia are making stocks and bonds of transport companies attractive. Operators will be followed by service and construction rail-related businesses, which are undoubtedly profitable assets in the light of the growing domestic market and a lack of high quality services and infrastructure
by Ivan Stupachenko
Reference
Globaltrans Investment Plc amalgamates the assets of N-Trans Group: railway operator JSC Novaya Perevozochnaya Kompaniya (NPK) and rolling equipment owner JSC Sevtekhnotrance. The Cyprian Transportation Investment Holdings Limited owns 70% of Globaltrans; the former is controlled by N-Trans owners pari passu - Konstantin Nikolaev, Nikita Mishin and Andrey Filatov. Envesta Investment owns another 30%, which belongs Globaltrans director general Sergey Maltsev (51%) and the chairman of directors’ board Alexander Eliseev (49%). In 2007 Globaltrans earnings totaled USD 548,9 million, EBITDA - USD 157,4 million, net income - USD 78,5 million.
[~DETAIL_TEXT] => Globaltrans: Financial Loco of Rail IPO Process
An analyst who I mentioned in the editorial said he had been recommending his clients buy shares in Globaltrans Investment Plc (see the company profile in the reference). The result has shown the recommendation was useful: the issue got them USD 449,5 million, thus becoming the leader among Russian IPOs this year.
What is incredible about this is that many buyers came not from Russia, but from several countries such as Switzerland, Great Britain, and the USA, says the head of Morgan Stanley’s Russian office, Yan Tarvonsky, who added that there were “195 meetings with investors.” Not surprisingly, the European bank for reconstruction and development acquired a 2-3% stake, this financial institution has been working in Russia for years, and through its participation in the equity capital of TransContainer has a good picture of what is going on in the country’s rail sector; but what about western investors that are not familiar with the industry?
It’s a field where even complain of a lack of sufficient information and sustainability, where private business emerged only recently, and where its major player, OAO RZD, had been a government body in the guise of Ministry of Railways until 2003.
Another important fact to be considered: Globaltrans announced its IPO only a month before selling its shares. Probably, the company held negotiations with investor to hear their opinions and intentions and the “primaries” obviously showed that they were ready to bring money.
Analysts say that the IPO’s results were influenced by several factors that helped the issuer raise large funds. In the light of the US mortgage crisis investors became very cautious in spending money, but they needed to spend nonetheless. All the more, some money withdrawn from shares and commodities, was turned into cash which meant their devaluation because of inflation.
Since stock markets are suffering from unsustainability and unpredictability, commodities are overpriced and also don’t promise a calm future, so hedge funds, banks and others are forced to seek new niches and markets.
A continuous economic growth in Russia, one of the leading global suppliers of oil, gas, coal and metals, means that cargo flows are not likely to suffer. Another factor is a very small choice of what to buy. Thus Globaltrans in May 2008 was the best answer for investors to two questions: where and what. A third question, “how much?” was negotiated with the issuer and bankers and as we can see the answer was satisfactory for all parties.
Mikhail Sayno, an analyst with BrokerCreditService, says that investors paid attention to the financial and operating results of Globaltrans which are improving further, and not to risks common to rail operators due to poor legislation. Evgeny Shago, the head of the analytical department of investment company Ingosstrah-Investments says that “there was nothing more to buy, therefore there were those who wanted to buy Globaltrans’ shares. Another factor here is that rail operators have strength in the rail sector which stimulates their growth further.”
For those thinking of buying shares in rail operators in Russia the most important conclusion from this story is that the private sector has always been drawn to the industry and even strong regulation as well as a trend towards an increase in state activity in the national economy cannot do anything about it. Nowadays operators own more than one third of wagons in the country, so their business cannot be stopped or even severely damaged. This is a strength to be reckoned with, this movement is becoming increasingly powerful and profitable, so it is believed to be in the long term.
Who is next?
To return to the markets. They are falling, oil prices are not stable the Federal Reserve is showing signs of alarm, and the answers “where to buy?” and “what to buy?” are still unanswered. Managing directors of investment funds are in a difficult situation, trying to understand how to spend lenders’ money without running the risk of being fired. At the same, time Globaltrans gave a sign to its colleagues that the path to the London Stock Exchange is not very scary, and that investors are friendly, though they ask many questions, so funds to develop businesses can be raised fairly easily.
OAO TransContainer, a subsidiary of RZD, a leading supplier of container transportation in Russia’s railways plans to go to the exchange this autumn. In 2007, the company already sold a 9% stake to the European bank for reconstruction and development for almost USD 220 million (at current rates) and 6% to other investors through a private deal. A representative of the bank said that the deal was “the best we could do.” Interestingly, the EBRD was not very fast to agree to buy: Vladimir Yakunin, President of RZD, said he had had to spend much time and effort to convince the bankers of the necessity of the deal.
In the second stage, TransContainer is planning an IPO to offer a stake of 15%, and RZD hopes to get as much as USD 356 million for it. Another 19% will be sold through a secondary public offering.
While the issuer itself has entered “a period of silence,” analysts are ready to comment that the planned IPO will be successful. “The Russian rail sector is rather well known among investors through Globaltrans’ IPO and the sale of Transcontainer’s shares. “Rising oil prices are leading to increasing incomes for Russian transport companies, says Mikhail Lyamin, an analyst with The Bank of Moscow.
And there are more would-be issuers from the railway sector to come. Sergey Kirsanov, the head of economics and finance at RailTransAuto, (a joint venture of TransGroup AS and RZD, which specializes in transportation of cars) said that his company is considering the possibility of an IPO. ”We will do it because we see good prospects in this market,” – he said.
The First Cargo Company, another subsidiary of RZD, was initially thought up in 2006 and created in 2007 with plans of sell some of its shares publicly. According to the first deputy general of director of the FCC, Alexey Taycher, the company is planning an IPO at the end of 2009 (see his words in the sidebar in this article). Russian Minister of Transport Igor Levitin announced that the Second Cargo company, a “sister” of the FCC, may be created already in 2009, so its IPO may come already in 2011 or sometime later.
On the whole, RZD plans to raise USD 6 billion till 2010 through IPOs of its subsidiaries.
RZD Needs Funds. Why Not With The Help Of An IPO?
In May this year, a theme of lending money from stocks attracted new interest. The vice president for finance of RZD Fyodor Andreev announced that the company was also considering IPOs, and even concrete parameters were already under discussion: the carrier may sell a 25% stake. A possible price varies but it would be reasonable to refer to a value given by Mr Andreev: 25% of RZD for USD 25 billion.
The subject was under intense discussion at the 3rd International railway business-forum Strategic Partnership 1520 where president of RZD Mr Yakunin asked analysts’ opinions on the matter. A common thesis for all comments was that the carrier’s shares would undoubtedly be sold out, and that investors would be eager to buy.
Nowadays this idea seems to be little strange, and, to a large extent, impossible. RZD’s developments are regulated by the government, each step the company makes must be signed off by the Prime Minister or the President. Assets are not allowed to be privatised and sold.
The railways in Russia are of strategic importance, including in terms of national security. But from the other side there are a few serious factors to be considered. The most important of them is the Strategy of the Development of Railways in the Russian Federation to 2030. The policy envisages that about USD 520 billon is to be invested. USD 240 billion of that is a share of RZD. The company can undoubtedly borrow fund from debts markets by issuing bonds and going to banks. This way has proved efficient, which is not surprising for a company that has credit ratings higher than those of the country. But why not sell shares in a situation where the papers are guaranteed to be bought?
“The company is the biggest transport operator in the world, it holds almost a monopolistic position on one of the fastest growing markets with great potential,” – says Mr Lyamin from The Bank of Moscow. Mr Sayno notes that nowadays the price of USD 100 billion is fairly reasonable, but it’s difficult to forecast what the climate will be like in three years.
Resume
Russia’s rail sector is increasingly opening up to the international investment community in an attempt to secure funds for development. A healthy situation in the domestic economy as well as soaring prices for commodities exported from Russia are making stocks and bonds of transport companies attractive. Operators will be followed by service and construction rail-related businesses, which are undoubtedly profitable assets in the light of the growing domestic market and a lack of high quality services and infrastructure
by Ivan Stupachenko
Reference
Globaltrans Investment Plc amalgamates the assets of N-Trans Group: railway operator JSC Novaya Perevozochnaya Kompaniya (NPK) and rolling equipment owner JSC Sevtekhnotrance. The Cyprian Transportation Investment Holdings Limited owns 70% of Globaltrans; the former is controlled by N-Trans owners pari passu - Konstantin Nikolaev, Nikita Mishin and Andrey Filatov. Envesta Investment owns another 30%, which belongs Globaltrans director general Sergey Maltsev (51%) and the chairman of directors’ board Alexander Eliseev (49%). In 2007 Globaltrans earnings totaled USD 548,9 million, EBITDA - USD 157,4 million, net income - USD 78,5 million.
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In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.Array
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[DETAIL_TEXT] => Is The Market Still Monopolistic…
To recap, in Russia the reform of national railway company OAO RZD is being carried out like this: a number of daughter companies providing cargo transportation are separated from the structure of OAO Russian Railways. Rolling stock of OAO RZD is passed into the ownership of these companies. This is how OAO TransContainer (specialist in container transportation) was launched, as well as OAO Refservice (carrier of perishable freight) and others. In 2007, a daughter company that transports cargo in versatile railcars – OAO The First Cargo Company – was established (see reference). 205,000 wagons of the mother company were transferred to its authorised capital, and most of them have been rented to OAO RZD.
It is common knowledge that, in most European countries, functions are divided during railway reform: a separate division is engaged in infrastructure, another in transportation. In Russia the model of reform is different: OAO RZD owns both infrastructure and part of the rolling stock. The current situation in the railway freight transportation market in Russia is like this: the infrastructure (excluding private local railways and tracks owned by Railroad of Yakutia) is the property of OAO RZD. Freight transportation is provided by private companies – by owners of rolling stock, by daughter enterprises of OAO RZD which also own rolling stock, and finally by OAO RZD that owns rolling stock and provides cargo transportation. The state sets the prices for services provided by OAO RZD but does not regulate the prices of the services of private companies. Meanwhile, OAO RZD cannot refuse a private company transportation.
…Or Competitive?
Daughter companies of OAO RZD are not regulated by the state. The censure of the Federal Antimonopoly Service is roused by the fact that the majority shareholding of OAO The First Cargo Company (100% - 1 share) is owned by OAO RZD (an IPO is planned in the future).
Specialists of the FAS consider that OAO RZD and OAO The First Cargo Company constitute a group of persons occupying a dominant position in the market and threatening competition. Firstly, the two companies own over 65% of the wagon park registered in the railway stations of the Russian Federation. Also, OAO RZD is on the list of natural monopoly bodies, while its daughter company isn’t. According to the Decree of the Federal Antimonopoly Service, the fact that OAO The First Cargo Company owns the larger share of the whole railcar park of all operators, “brings out to the market an organisation able to occupy a dominating position on the market”.
Secondly, the rolling stock passed into the ownership of OAO RZD bear the codes of a public railcar park (i.e. the park of OAO RZD). And this, specialists of the Federal Antimonopoly Service say, releases OAO The First Cargo Company from financial expenses which emerge during the wagon re-registration procedure. This procedure is obligatory for all other rolling stock owners and involves marking it with new eight-digit numbers with property signs and registration at the stations of Russian Railways. This process leads to losses because the wagons sit idle while they are re-registered and given new numbers instead of carrying cargo.
Thirdly, according to Russian legislation, OAO RZD must have rolling stock, and has no right to refuse a consignor transportation.
As a result, the FAS issued directions to OAO RZD and OAO First Cargo Company “on actions targeted to provide competition and to prevent creation of discriminating conditions for physical/juridical persons, owning wagons and acting as operators”.
What does the FAS prescribe?
The first item of the directions says that if OAO RZD receives an application for transportation, the company does not have a right to refuse a consignor this service. This is an obligation of the state railway company, envisaged by Russian legislation. However, when launching a daughter enterprise, OAO RZD handed over its special rolling stock park, in particular, tank wagons. Is OAO RZD to provide transportation services even if it has no special wagons for this type of freight? According to the directions, if OAO RZD has no wagons, it must rent them from The First Cargo Company and transport the cargo. Remember, prices for the services of OAO RZD are regulated by the state.
Representatives of OAO RZD commented on this direction, “The public principle of transportation contracts mean that a transporter must treat all clients equally, but not fulfil all the applications for transportation. The lack of wagons for transportation is an example of reasoned absence of technical means to provide transportation. There can be no demand that a transporter must fulfil absolutely all consignors’ demands for transportation.”
The question of whether a railway carrier can refuse an applicant transportation has been discussed for a long time. There has been no judicial authority so far, so the question is debatable and if OAO RZD applies to arbitration, the latter may disagree with the FAS.
“Consignors, who conclude contracts for liquid bulk transportation, try to gain from the tariff by loading their cargo into tank wagons of OAO RZD park instead of the rolling stock of The First Cargo Company,” says Salman Babayev, Director General of OAO The First Cargo Company.
Proposed Russian legislation envisages development of a list of criteria for carrier’s refusal from transportation by railway. Nowadays there are no such criteria, so there may be no refusals on the basis of a lack of rolling stock.
In June 2007, a study of criteria for transporter’s refusal to fulfill cargo transportation applications was given to the FAS. Among the criteria there was the famous clause envisaging possibility of a refusal if OAO RZD has no special rolling stock. The FAS disagreed with all 10 criteria for refusal: “We believe, they do not meet the interests of a consignor, moreover, they twist the concept of “transporter.” The Ministry of Transport shares this opinion. OAO RZD works on the terms of a public agreement, which envisages that it is obliged, as the only company that has the status of a transporter, to take an application from any consignor. The public agreement means that the services are to be provided to every applicant, says a representative of the Railway Transport Department at the FAS of the Russian Federation.
Item 5 of the direction says that, to organisations incorporated into OAO RZD or with which it makes one group of persons, OAO RZD must provide a similar level of prices for repair of rolling stock, owned by OAO RZD, OAO The First Cargo Company and third parties. Russian Railways comment on this – “In this item it is not taken into account that OAO RZD repairing its own wagons cannot be considered as provision of services in the conception of the acting legislation. Since the customer and the contractor are one and the same in this case, the service is not sold. Freight wagons of other organisations, including The First Cargo Company, are repaired at prices set on a profitability basis. The order of price formation and typical form of work calculation were defined by Decree №109р of OAO RZD from 25.01.2007”.
Item 6 of the direction contains the demand that all interested persons should have equal access to works and services provided by OAO The First Cargo Company. OAO RZD believes this demand falls apart with the acting legislation, otherwise The First Cargo Company would be a public transporter, i.e. it would have to provide services at the announced prices to any consumer. And this contradicts the idea of The First Cargo Company establishment. “We demand the elimination of discrimination in provision of rolling stock. Also, we demand a level playing field in the cost of freight transportation associated with the wagons of OAO The First Cargo Company and those of OAO RZD,” said a representative of the FAS when he summed up the main idea behind the directions.
The First Cargo Company Disagrees with the FAS
The management of OAO The First Cargo Company doubts that the company occupies a monopolistic position at the market.
In the words of S. Babayev, OAO The First Cargo Company is not a dominating company today. For example, its share in oil bulk transportation is just 10%. Besides, the most profitable transportation is provided by private operators, and The First Cargo Company has to work with its leftovers, and the competition is very tough. There is a surplus of tank wagons in the market, for example, The First Cargo Company has 16,000 railcars of this type. “That is why we have to look for the opportunities to use our rolling stock abroad – at the area with a 1520mm-wide gauge. As for gondola cars, OAO RZD has the largest park of this type of wagon, however, only 47,000 units were given to The First Cargo Company. It was done because our company could not occupy a dominating position in the market. The same situation exists with wagons for grain transportation – OAO RZD gave us only 8,000 units. A client always has a choice – whether to transport freight at Tariff Regulation № 10-01 or apply to other operators.”
“The only sector in which The First Cargo Company dominates is rolling stock for cement transportation. The company has 40% of the railcars in this segment, 20% are owned by OAO RZD, and the rest, 40%, by other operators. Also, the statements that tariffs on cement transportation in railcars are very high are not true,” specifies S. Babayev.
The FAS noticed that when the Board of Directors of OAO RZD decided on the launch of The First Cargo Company, the Federal Antimonopoly Service offered to establish two or three such operators instead of one daughter company. It suggested the companies be less scaled, so they could be in the same competition conditions as other operators. But only one enterprise was launched and almost one third of OAO RZD’s operating park, including special rolling stock, was given to it.
“If several operators were launched instead of one – OAO The First Cargo Company – they would be parts of the OAO RZD group and, according to the direction of the FAS, would be considered to be, together with OAO RZD, dominating the market of providing rolling stock for cargo transportation. That is why the opinion that the presence of several smaller operators would make for development of competition with other operators is not reasonable. Besides, if so many players appeared in the market, the tariff would “blow up”. Now, due to cross-subsiding, Russian Railways can transport cargo at prices of Tariff Regulation №10-01. The launch of two or more operators would have deregulated tariffs at once, it would have destroyed classes of freight, i.e. it would have cancelled the Tariff Regulation,” says S. Babayev, Director General of OAO The First Cargo Company.
Resume
After the directions were issued, representatives of OAO RZD and the Federal Antimonopoly Service met to share opinions, but failed to reach an agreement. If one could have predicted that the FAS would develop such directions when the target model of the railway services market was discussed and adopted, the decision on OAO The First Cargo Company would never had been taken because the direction makes it senseless. There is sense in it only if the wagon constituent of tariff is free, and the contract on services is not public. The other ways out OAO RZD has are either selling its controlling interest in The First Cargo Company or selling it the rest of its rolling stock.
Reference
The First Cargo Company was launched as an open joint stock company (OAO).
OAO RZD is its main founder and owns the company’s equity (100% – 1 share), non-commercial organisation Zheldorreforma owns the company’s one equity as the second founder.
OAO The First Cargo Company was established as a railway rolling stock operator, meanwhile OAO RZD kept its status of a transporter and the obligations it has according to transport legislation.
The company provides consignors and consignees services in the rolling stock provision sector. Later, it will provide forwarding and other services in freight transportation by railway, including international routes. In Q1 of 2008, the volume of transportation of OAO The First Cargo Company amounted to 8.7 million tons. In the near future The First Cargo Company plans to buy 15,000 new wagons.
[~DETAIL_TEXT] => Is The Market Still Monopolistic…
To recap, in Russia the reform of national railway company OAO RZD is being carried out like this: a number of daughter companies providing cargo transportation are separated from the structure of OAO Russian Railways. Rolling stock of OAO RZD is passed into the ownership of these companies. This is how OAO TransContainer (specialist in container transportation) was launched, as well as OAO Refservice (carrier of perishable freight) and others. In 2007, a daughter company that transports cargo in versatile railcars – OAO The First Cargo Company – was established (see reference). 205,000 wagons of the mother company were transferred to its authorised capital, and most of them have been rented to OAO RZD.
It is common knowledge that, in most European countries, functions are divided during railway reform: a separate division is engaged in infrastructure, another in transportation. In Russia the model of reform is different: OAO RZD owns both infrastructure and part of the rolling stock. The current situation in the railway freight transportation market in Russia is like this: the infrastructure (excluding private local railways and tracks owned by Railroad of Yakutia) is the property of OAO RZD. Freight transportation is provided by private companies – by owners of rolling stock, by daughter enterprises of OAO RZD which also own rolling stock, and finally by OAO RZD that owns rolling stock and provides cargo transportation. The state sets the prices for services provided by OAO RZD but does not regulate the prices of the services of private companies. Meanwhile, OAO RZD cannot refuse a private company transportation.
…Or Competitive?
Daughter companies of OAO RZD are not regulated by the state. The censure of the Federal Antimonopoly Service is roused by the fact that the majority shareholding of OAO The First Cargo Company (100% - 1 share) is owned by OAO RZD (an IPO is planned in the future).
Specialists of the FAS consider that OAO RZD and OAO The First Cargo Company constitute a group of persons occupying a dominant position in the market and threatening competition. Firstly, the two companies own over 65% of the wagon park registered in the railway stations of the Russian Federation. Also, OAO RZD is on the list of natural monopoly bodies, while its daughter company isn’t. According to the Decree of the Federal Antimonopoly Service, the fact that OAO The First Cargo Company owns the larger share of the whole railcar park of all operators, “brings out to the market an organisation able to occupy a dominating position on the market”.
Secondly, the rolling stock passed into the ownership of OAO RZD bear the codes of a public railcar park (i.e. the park of OAO RZD). And this, specialists of the Federal Antimonopoly Service say, releases OAO The First Cargo Company from financial expenses which emerge during the wagon re-registration procedure. This procedure is obligatory for all other rolling stock owners and involves marking it with new eight-digit numbers with property signs and registration at the stations of Russian Railways. This process leads to losses because the wagons sit idle while they are re-registered and given new numbers instead of carrying cargo.
Thirdly, according to Russian legislation, OAO RZD must have rolling stock, and has no right to refuse a consignor transportation.
As a result, the FAS issued directions to OAO RZD and OAO First Cargo Company “on actions targeted to provide competition and to prevent creation of discriminating conditions for physical/juridical persons, owning wagons and acting as operators”.
What does the FAS prescribe?
The first item of the directions says that if OAO RZD receives an application for transportation, the company does not have a right to refuse a consignor this service. This is an obligation of the state railway company, envisaged by Russian legislation. However, when launching a daughter enterprise, OAO RZD handed over its special rolling stock park, in particular, tank wagons. Is OAO RZD to provide transportation services even if it has no special wagons for this type of freight? According to the directions, if OAO RZD has no wagons, it must rent them from The First Cargo Company and transport the cargo. Remember, prices for the services of OAO RZD are regulated by the state.
Representatives of OAO RZD commented on this direction, “The public principle of transportation contracts mean that a transporter must treat all clients equally, but not fulfil all the applications for transportation. The lack of wagons for transportation is an example of reasoned absence of technical means to provide transportation. There can be no demand that a transporter must fulfil absolutely all consignors’ demands for transportation.”
The question of whether a railway carrier can refuse an applicant transportation has been discussed for a long time. There has been no judicial authority so far, so the question is debatable and if OAO RZD applies to arbitration, the latter may disagree with the FAS.
“Consignors, who conclude contracts for liquid bulk transportation, try to gain from the tariff by loading their cargo into tank wagons of OAO RZD park instead of the rolling stock of The First Cargo Company,” says Salman Babayev, Director General of OAO The First Cargo Company.
Proposed Russian legislation envisages development of a list of criteria for carrier’s refusal from transportation by railway. Nowadays there are no such criteria, so there may be no refusals on the basis of a lack of rolling stock.
In June 2007, a study of criteria for transporter’s refusal to fulfill cargo transportation applications was given to the FAS. Among the criteria there was the famous clause envisaging possibility of a refusal if OAO RZD has no special rolling stock. The FAS disagreed with all 10 criteria for refusal: “We believe, they do not meet the interests of a consignor, moreover, they twist the concept of “transporter.” The Ministry of Transport shares this opinion. OAO RZD works on the terms of a public agreement, which envisages that it is obliged, as the only company that has the status of a transporter, to take an application from any consignor. The public agreement means that the services are to be provided to every applicant, says a representative of the Railway Transport Department at the FAS of the Russian Federation.
Item 5 of the direction says that, to organisations incorporated into OAO RZD or with which it makes one group of persons, OAO RZD must provide a similar level of prices for repair of rolling stock, owned by OAO RZD, OAO The First Cargo Company and third parties. Russian Railways comment on this – “In this item it is not taken into account that OAO RZD repairing its own wagons cannot be considered as provision of services in the conception of the acting legislation. Since the customer and the contractor are one and the same in this case, the service is not sold. Freight wagons of other organisations, including The First Cargo Company, are repaired at prices set on a profitability basis. The order of price formation and typical form of work calculation were defined by Decree №109р of OAO RZD from 25.01.2007”.
Item 6 of the direction contains the demand that all interested persons should have equal access to works and services provided by OAO The First Cargo Company. OAO RZD believes this demand falls apart with the acting legislation, otherwise The First Cargo Company would be a public transporter, i.e. it would have to provide services at the announced prices to any consumer. And this contradicts the idea of The First Cargo Company establishment. “We demand the elimination of discrimination in provision of rolling stock. Also, we demand a level playing field in the cost of freight transportation associated with the wagons of OAO The First Cargo Company and those of OAO RZD,” said a representative of the FAS when he summed up the main idea behind the directions.
The First Cargo Company Disagrees with the FAS
The management of OAO The First Cargo Company doubts that the company occupies a monopolistic position at the market.
In the words of S. Babayev, OAO The First Cargo Company is not a dominating company today. For example, its share in oil bulk transportation is just 10%. Besides, the most profitable transportation is provided by private operators, and The First Cargo Company has to work with its leftovers, and the competition is very tough. There is a surplus of tank wagons in the market, for example, The First Cargo Company has 16,000 railcars of this type. “That is why we have to look for the opportunities to use our rolling stock abroad – at the area with a 1520mm-wide gauge. As for gondola cars, OAO RZD has the largest park of this type of wagon, however, only 47,000 units were given to The First Cargo Company. It was done because our company could not occupy a dominating position in the market. The same situation exists with wagons for grain transportation – OAO RZD gave us only 8,000 units. A client always has a choice – whether to transport freight at Tariff Regulation № 10-01 or apply to other operators.”
“The only sector in which The First Cargo Company dominates is rolling stock for cement transportation. The company has 40% of the railcars in this segment, 20% are owned by OAO RZD, and the rest, 40%, by other operators. Also, the statements that tariffs on cement transportation in railcars are very high are not true,” specifies S. Babayev.
The FAS noticed that when the Board of Directors of OAO RZD decided on the launch of The First Cargo Company, the Federal Antimonopoly Service offered to establish two or three such operators instead of one daughter company. It suggested the companies be less scaled, so they could be in the same competition conditions as other operators. But only one enterprise was launched and almost one third of OAO RZD’s operating park, including special rolling stock, was given to it.
“If several operators were launched instead of one – OAO The First Cargo Company – they would be parts of the OAO RZD group and, according to the direction of the FAS, would be considered to be, together with OAO RZD, dominating the market of providing rolling stock for cargo transportation. That is why the opinion that the presence of several smaller operators would make for development of competition with other operators is not reasonable. Besides, if so many players appeared in the market, the tariff would “blow up”. Now, due to cross-subsiding, Russian Railways can transport cargo at prices of Tariff Regulation №10-01. The launch of two or more operators would have deregulated tariffs at once, it would have destroyed classes of freight, i.e. it would have cancelled the Tariff Regulation,” says S. Babayev, Director General of OAO The First Cargo Company.
Resume
After the directions were issued, representatives of OAO RZD and the Federal Antimonopoly Service met to share opinions, but failed to reach an agreement. If one could have predicted that the FAS would develop such directions when the target model of the railway services market was discussed and adopted, the decision on OAO The First Cargo Company would never had been taken because the direction makes it senseless. There is sense in it only if the wagon constituent of tariff is free, and the contract on services is not public. The other ways out OAO RZD has are either selling its controlling interest in The First Cargo Company or selling it the rest of its rolling stock.
Reference
The First Cargo Company was launched as an open joint stock company (OAO).
OAO RZD is its main founder and owns the company’s equity (100% – 1 share), non-commercial organisation Zheldorreforma owns the company’s one equity as the second founder.
OAO The First Cargo Company was established as a railway rolling stock operator, meanwhile OAO RZD kept its status of a transporter and the obligations it has according to transport legislation.
The company provides consignors and consignees services in the rolling stock provision sector. Later, it will provide forwarding and other services in freight transportation by railway, including international routes. In Q1 of 2008, the volume of transportation of OAO The First Cargo Company amounted to 8.7 million tons. In the near future The First Cargo Company plans to buy 15,000 new wagons.
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[PREVIEW_TEXT] => In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
[~PREVIEW_TEXT] => In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
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[SECTION_META_TITLE] => Railway Reform in Russia: RZD Disputes with the Federal Antimonopoly Service
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[SECTION_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/5.jpg" border="1" alt=" " hspace="3" vspace="3" width="99" height="200" align="left" />In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
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[ELEMENT_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/5.jpg" border="1" alt=" " hspace="3" vspace="3" width="99" height="200" align="left" />In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
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[DETAIL_TEXT] => Is The Market Still Monopolistic…
To recap, in Russia the reform of national railway company OAO RZD is being carried out like this: a number of daughter companies providing cargo transportation are separated from the structure of OAO Russian Railways. Rolling stock of OAO RZD is passed into the ownership of these companies. This is how OAO TransContainer (specialist in container transportation) was launched, as well as OAO Refservice (carrier of perishable freight) and others. In 2007, a daughter company that transports cargo in versatile railcars – OAO The First Cargo Company – was established (see reference). 205,000 wagons of the mother company were transferred to its authorised capital, and most of them have been rented to OAO RZD.
It is common knowledge that, in most European countries, functions are divided during railway reform: a separate division is engaged in infrastructure, another in transportation. In Russia the model of reform is different: OAO RZD owns both infrastructure and part of the rolling stock. The current situation in the railway freight transportation market in Russia is like this: the infrastructure (excluding private local railways and tracks owned by Railroad of Yakutia) is the property of OAO RZD. Freight transportation is provided by private companies – by owners of rolling stock, by daughter enterprises of OAO RZD which also own rolling stock, and finally by OAO RZD that owns rolling stock and provides cargo transportation. The state sets the prices for services provided by OAO RZD but does not regulate the prices of the services of private companies. Meanwhile, OAO RZD cannot refuse a private company transportation.
…Or Competitive?
Daughter companies of OAO RZD are not regulated by the state. The censure of the Federal Antimonopoly Service is roused by the fact that the majority shareholding of OAO The First Cargo Company (100% - 1 share) is owned by OAO RZD (an IPO is planned in the future).
Specialists of the FAS consider that OAO RZD and OAO The First Cargo Company constitute a group of persons occupying a dominant position in the market and threatening competition. Firstly, the two companies own over 65% of the wagon park registered in the railway stations of the Russian Federation. Also, OAO RZD is on the list of natural monopoly bodies, while its daughter company isn’t. According to the Decree of the Federal Antimonopoly Service, the fact that OAO The First Cargo Company owns the larger share of the whole railcar park of all operators, “brings out to the market an organisation able to occupy a dominating position on the market”.
Secondly, the rolling stock passed into the ownership of OAO RZD bear the codes of a public railcar park (i.e. the park of OAO RZD). And this, specialists of the Federal Antimonopoly Service say, releases OAO The First Cargo Company from financial expenses which emerge during the wagon re-registration procedure. This procedure is obligatory for all other rolling stock owners and involves marking it with new eight-digit numbers with property signs and registration at the stations of Russian Railways. This process leads to losses because the wagons sit idle while they are re-registered and given new numbers instead of carrying cargo.
Thirdly, according to Russian legislation, OAO RZD must have rolling stock, and has no right to refuse a consignor transportation.
As a result, the FAS issued directions to OAO RZD and OAO First Cargo Company “on actions targeted to provide competition and to prevent creation of discriminating conditions for physical/juridical persons, owning wagons and acting as operators”.
What does the FAS prescribe?
The first item of the directions says that if OAO RZD receives an application for transportation, the company does not have a right to refuse a consignor this service. This is an obligation of the state railway company, envisaged by Russian legislation. However, when launching a daughter enterprise, OAO RZD handed over its special rolling stock park, in particular, tank wagons. Is OAO RZD to provide transportation services even if it has no special wagons for this type of freight? According to the directions, if OAO RZD has no wagons, it must rent them from The First Cargo Company and transport the cargo. Remember, prices for the services of OAO RZD are regulated by the state.
Representatives of OAO RZD commented on this direction, “The public principle of transportation contracts mean that a transporter must treat all clients equally, but not fulfil all the applications for transportation. The lack of wagons for transportation is an example of reasoned absence of technical means to provide transportation. There can be no demand that a transporter must fulfil absolutely all consignors’ demands for transportation.”
The question of whether a railway carrier can refuse an applicant transportation has been discussed for a long time. There has been no judicial authority so far, so the question is debatable and if OAO RZD applies to arbitration, the latter may disagree with the FAS.
“Consignors, who conclude contracts for liquid bulk transportation, try to gain from the tariff by loading their cargo into tank wagons of OAO RZD park instead of the rolling stock of The First Cargo Company,” says Salman Babayev, Director General of OAO The First Cargo Company.
Proposed Russian legislation envisages development of a list of criteria for carrier’s refusal from transportation by railway. Nowadays there are no such criteria, so there may be no refusals on the basis of a lack of rolling stock.
In June 2007, a study of criteria for transporter’s refusal to fulfill cargo transportation applications was given to the FAS. Among the criteria there was the famous clause envisaging possibility of a refusal if OAO RZD has no special rolling stock. The FAS disagreed with all 10 criteria for refusal: “We believe, they do not meet the interests of a consignor, moreover, they twist the concept of “transporter.” The Ministry of Transport shares this opinion. OAO RZD works on the terms of a public agreement, which envisages that it is obliged, as the only company that has the status of a transporter, to take an application from any consignor. The public agreement means that the services are to be provided to every applicant, says a representative of the Railway Transport Department at the FAS of the Russian Federation.
Item 5 of the direction says that, to organisations incorporated into OAO RZD or with which it makes one group of persons, OAO RZD must provide a similar level of prices for repair of rolling stock, owned by OAO RZD, OAO The First Cargo Company and third parties. Russian Railways comment on this – “In this item it is not taken into account that OAO RZD repairing its own wagons cannot be considered as provision of services in the conception of the acting legislation. Since the customer and the contractor are one and the same in this case, the service is not sold. Freight wagons of other organisations, including The First Cargo Company, are repaired at prices set on a profitability basis. The order of price formation and typical form of work calculation were defined by Decree №109р of OAO RZD from 25.01.2007”.
Item 6 of the direction contains the demand that all interested persons should have equal access to works and services provided by OAO The First Cargo Company. OAO RZD believes this demand falls apart with the acting legislation, otherwise The First Cargo Company would be a public transporter, i.e. it would have to provide services at the announced prices to any consumer. And this contradicts the idea of The First Cargo Company establishment. “We demand the elimination of discrimination in provision of rolling stock. Also, we demand a level playing field in the cost of freight transportation associated with the wagons of OAO The First Cargo Company and those of OAO RZD,” said a representative of the FAS when he summed up the main idea behind the directions.
The First Cargo Company Disagrees with the FAS
The management of OAO The First Cargo Company doubts that the company occupies a monopolistic position at the market.
In the words of S. Babayev, OAO The First Cargo Company is not a dominating company today. For example, its share in oil bulk transportation is just 10%. Besides, the most profitable transportation is provided by private operators, and The First Cargo Company has to work with its leftovers, and the competition is very tough. There is a surplus of tank wagons in the market, for example, The First Cargo Company has 16,000 railcars of this type. “That is why we have to look for the opportunities to use our rolling stock abroad – at the area with a 1520mm-wide gauge. As for gondola cars, OAO RZD has the largest park of this type of wagon, however, only 47,000 units were given to The First Cargo Company. It was done because our company could not occupy a dominating position in the market. The same situation exists with wagons for grain transportation – OAO RZD gave us only 8,000 units. A client always has a choice – whether to transport freight at Tariff Regulation № 10-01 or apply to other operators.”
“The only sector in which The First Cargo Company dominates is rolling stock for cement transportation. The company has 40% of the railcars in this segment, 20% are owned by OAO RZD, and the rest, 40%, by other operators. Also, the statements that tariffs on cement transportation in railcars are very high are not true,” specifies S. Babayev.
The FAS noticed that when the Board of Directors of OAO RZD decided on the launch of The First Cargo Company, the Federal Antimonopoly Service offered to establish two or three such operators instead of one daughter company. It suggested the companies be less scaled, so they could be in the same competition conditions as other operators. But only one enterprise was launched and almost one third of OAO RZD’s operating park, including special rolling stock, was given to it.
“If several operators were launched instead of one – OAO The First Cargo Company – they would be parts of the OAO RZD group and, according to the direction of the FAS, would be considered to be, together with OAO RZD, dominating the market of providing rolling stock for cargo transportation. That is why the opinion that the presence of several smaller operators would make for development of competition with other operators is not reasonable. Besides, if so many players appeared in the market, the tariff would “blow up”. Now, due to cross-subsiding, Russian Railways can transport cargo at prices of Tariff Regulation №10-01. The launch of two or more operators would have deregulated tariffs at once, it would have destroyed classes of freight, i.e. it would have cancelled the Tariff Regulation,” says S. Babayev, Director General of OAO The First Cargo Company.
Resume
After the directions were issued, representatives of OAO RZD and the Federal Antimonopoly Service met to share opinions, but failed to reach an agreement. If one could have predicted that the FAS would develop such directions when the target model of the railway services market was discussed and adopted, the decision on OAO The First Cargo Company would never had been taken because the direction makes it senseless. There is sense in it only if the wagon constituent of tariff is free, and the contract on services is not public. The other ways out OAO RZD has are either selling its controlling interest in The First Cargo Company or selling it the rest of its rolling stock.
Reference
The First Cargo Company was launched as an open joint stock company (OAO).
OAO RZD is its main founder and owns the company’s equity (100% – 1 share), non-commercial organisation Zheldorreforma owns the company’s one equity as the second founder.
OAO The First Cargo Company was established as a railway rolling stock operator, meanwhile OAO RZD kept its status of a transporter and the obligations it has according to transport legislation.
The company provides consignors and consignees services in the rolling stock provision sector. Later, it will provide forwarding and other services in freight transportation by railway, including international routes. In Q1 of 2008, the volume of transportation of OAO The First Cargo Company amounted to 8.7 million tons. In the near future The First Cargo Company plans to buy 15,000 new wagons.
[~DETAIL_TEXT] => Is The Market Still Monopolistic…
To recap, in Russia the reform of national railway company OAO RZD is being carried out like this: a number of daughter companies providing cargo transportation are separated from the structure of OAO Russian Railways. Rolling stock of OAO RZD is passed into the ownership of these companies. This is how OAO TransContainer (specialist in container transportation) was launched, as well as OAO Refservice (carrier of perishable freight) and others. In 2007, a daughter company that transports cargo in versatile railcars – OAO The First Cargo Company – was established (see reference). 205,000 wagons of the mother company were transferred to its authorised capital, and most of them have been rented to OAO RZD.
It is common knowledge that, in most European countries, functions are divided during railway reform: a separate division is engaged in infrastructure, another in transportation. In Russia the model of reform is different: OAO RZD owns both infrastructure and part of the rolling stock. The current situation in the railway freight transportation market in Russia is like this: the infrastructure (excluding private local railways and tracks owned by Railroad of Yakutia) is the property of OAO RZD. Freight transportation is provided by private companies – by owners of rolling stock, by daughter enterprises of OAO RZD which also own rolling stock, and finally by OAO RZD that owns rolling stock and provides cargo transportation. The state sets the prices for services provided by OAO RZD but does not regulate the prices of the services of private companies. Meanwhile, OAO RZD cannot refuse a private company transportation.
…Or Competitive?
Daughter companies of OAO RZD are not regulated by the state. The censure of the Federal Antimonopoly Service is roused by the fact that the majority shareholding of OAO The First Cargo Company (100% - 1 share) is owned by OAO RZD (an IPO is planned in the future).
Specialists of the FAS consider that OAO RZD and OAO The First Cargo Company constitute a group of persons occupying a dominant position in the market and threatening competition. Firstly, the two companies own over 65% of the wagon park registered in the railway stations of the Russian Federation. Also, OAO RZD is on the list of natural monopoly bodies, while its daughter company isn’t. According to the Decree of the Federal Antimonopoly Service, the fact that OAO The First Cargo Company owns the larger share of the whole railcar park of all operators, “brings out to the market an organisation able to occupy a dominating position on the market”.
Secondly, the rolling stock passed into the ownership of OAO RZD bear the codes of a public railcar park (i.e. the park of OAO RZD). And this, specialists of the Federal Antimonopoly Service say, releases OAO The First Cargo Company from financial expenses which emerge during the wagon re-registration procedure. This procedure is obligatory for all other rolling stock owners and involves marking it with new eight-digit numbers with property signs and registration at the stations of Russian Railways. This process leads to losses because the wagons sit idle while they are re-registered and given new numbers instead of carrying cargo.
Thirdly, according to Russian legislation, OAO RZD must have rolling stock, and has no right to refuse a consignor transportation.
As a result, the FAS issued directions to OAO RZD and OAO First Cargo Company “on actions targeted to provide competition and to prevent creation of discriminating conditions for physical/juridical persons, owning wagons and acting as operators”.
What does the FAS prescribe?
The first item of the directions says that if OAO RZD receives an application for transportation, the company does not have a right to refuse a consignor this service. This is an obligation of the state railway company, envisaged by Russian legislation. However, when launching a daughter enterprise, OAO RZD handed over its special rolling stock park, in particular, tank wagons. Is OAO RZD to provide transportation services even if it has no special wagons for this type of freight? According to the directions, if OAO RZD has no wagons, it must rent them from The First Cargo Company and transport the cargo. Remember, prices for the services of OAO RZD are regulated by the state.
Representatives of OAO RZD commented on this direction, “The public principle of transportation contracts mean that a transporter must treat all clients equally, but not fulfil all the applications for transportation. The lack of wagons for transportation is an example of reasoned absence of technical means to provide transportation. There can be no demand that a transporter must fulfil absolutely all consignors’ demands for transportation.”
The question of whether a railway carrier can refuse an applicant transportation has been discussed for a long time. There has been no judicial authority so far, so the question is debatable and if OAO RZD applies to arbitration, the latter may disagree with the FAS.
“Consignors, who conclude contracts for liquid bulk transportation, try to gain from the tariff by loading their cargo into tank wagons of OAO RZD park instead of the rolling stock of The First Cargo Company,” says Salman Babayev, Director General of OAO The First Cargo Company.
Proposed Russian legislation envisages development of a list of criteria for carrier’s refusal from transportation by railway. Nowadays there are no such criteria, so there may be no refusals on the basis of a lack of rolling stock.
In June 2007, a study of criteria for transporter’s refusal to fulfill cargo transportation applications was given to the FAS. Among the criteria there was the famous clause envisaging possibility of a refusal if OAO RZD has no special rolling stock. The FAS disagreed with all 10 criteria for refusal: “We believe, they do not meet the interests of a consignor, moreover, they twist the concept of “transporter.” The Ministry of Transport shares this opinion. OAO RZD works on the terms of a public agreement, which envisages that it is obliged, as the only company that has the status of a transporter, to take an application from any consignor. The public agreement means that the services are to be provided to every applicant, says a representative of the Railway Transport Department at the FAS of the Russian Federation.
Item 5 of the direction says that, to organisations incorporated into OAO RZD or with which it makes one group of persons, OAO RZD must provide a similar level of prices for repair of rolling stock, owned by OAO RZD, OAO The First Cargo Company and third parties. Russian Railways comment on this – “In this item it is not taken into account that OAO RZD repairing its own wagons cannot be considered as provision of services in the conception of the acting legislation. Since the customer and the contractor are one and the same in this case, the service is not sold. Freight wagons of other organisations, including The First Cargo Company, are repaired at prices set on a profitability basis. The order of price formation and typical form of work calculation were defined by Decree №109р of OAO RZD from 25.01.2007”.
Item 6 of the direction contains the demand that all interested persons should have equal access to works and services provided by OAO The First Cargo Company. OAO RZD believes this demand falls apart with the acting legislation, otherwise The First Cargo Company would be a public transporter, i.e. it would have to provide services at the announced prices to any consumer. And this contradicts the idea of The First Cargo Company establishment. “We demand the elimination of discrimination in provision of rolling stock. Also, we demand a level playing field in the cost of freight transportation associated with the wagons of OAO The First Cargo Company and those of OAO RZD,” said a representative of the FAS when he summed up the main idea behind the directions.
The First Cargo Company Disagrees with the FAS
The management of OAO The First Cargo Company doubts that the company occupies a monopolistic position at the market.
In the words of S. Babayev, OAO The First Cargo Company is not a dominating company today. For example, its share in oil bulk transportation is just 10%. Besides, the most profitable transportation is provided by private operators, and The First Cargo Company has to work with its leftovers, and the competition is very tough. There is a surplus of tank wagons in the market, for example, The First Cargo Company has 16,000 railcars of this type. “That is why we have to look for the opportunities to use our rolling stock abroad – at the area with a 1520mm-wide gauge. As for gondola cars, OAO RZD has the largest park of this type of wagon, however, only 47,000 units were given to The First Cargo Company. It was done because our company could not occupy a dominating position in the market. The same situation exists with wagons for grain transportation – OAO RZD gave us only 8,000 units. A client always has a choice – whether to transport freight at Tariff Regulation № 10-01 or apply to other operators.”
“The only sector in which The First Cargo Company dominates is rolling stock for cement transportation. The company has 40% of the railcars in this segment, 20% are owned by OAO RZD, and the rest, 40%, by other operators. Also, the statements that tariffs on cement transportation in railcars are very high are not true,” specifies S. Babayev.
The FAS noticed that when the Board of Directors of OAO RZD decided on the launch of The First Cargo Company, the Federal Antimonopoly Service offered to establish two or three such operators instead of one daughter company. It suggested the companies be less scaled, so they could be in the same competition conditions as other operators. But only one enterprise was launched and almost one third of OAO RZD’s operating park, including special rolling stock, was given to it.
“If several operators were launched instead of one – OAO The First Cargo Company – they would be parts of the OAO RZD group and, according to the direction of the FAS, would be considered to be, together with OAO RZD, dominating the market of providing rolling stock for cargo transportation. That is why the opinion that the presence of several smaller operators would make for development of competition with other operators is not reasonable. Besides, if so many players appeared in the market, the tariff would “blow up”. Now, due to cross-subsiding, Russian Railways can transport cargo at prices of Tariff Regulation №10-01. The launch of two or more operators would have deregulated tariffs at once, it would have destroyed classes of freight, i.e. it would have cancelled the Tariff Regulation,” says S. Babayev, Director General of OAO The First Cargo Company.
Resume
After the directions were issued, representatives of OAO RZD and the Federal Antimonopoly Service met to share opinions, but failed to reach an agreement. If one could have predicted that the FAS would develop such directions when the target model of the railway services market was discussed and adopted, the decision on OAO The First Cargo Company would never had been taken because the direction makes it senseless. There is sense in it only if the wagon constituent of tariff is free, and the contract on services is not public. The other ways out OAO RZD has are either selling its controlling interest in The First Cargo Company or selling it the rest of its rolling stock.
Reference
The First Cargo Company was launched as an open joint stock company (OAO).
OAO RZD is its main founder and owns the company’s equity (100% – 1 share), non-commercial organisation Zheldorreforma owns the company’s one equity as the second founder.
OAO The First Cargo Company was established as a railway rolling stock operator, meanwhile OAO RZD kept its status of a transporter and the obligations it has according to transport legislation.
The company provides consignors and consignees services in the rolling stock provision sector. Later, it will provide forwarding and other services in freight transportation by railway, including international routes. In Q1 of 2008, the volume of transportation of OAO The First Cargo Company amounted to 8.7 million tons. In the near future The First Cargo Company plans to buy 15,000 new wagons.
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[PREVIEW_TEXT] => In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
[~PREVIEW_TEXT] => In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
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[SECTION_META_TITLE] => Railway Reform in Russia: RZD Disputes with the Federal Antimonopoly Service
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[SECTION_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/5.jpg" border="1" alt=" " hspace="3" vspace="3" width="99" height="200" align="left" />In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
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[ELEMENT_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/5.jpg" border="1" alt=" " hspace="3" vspace="3" width="99" height="200" align="left" />In early 2008 the Federal Antimonopoly Service of the Russian Federation (FAS) criticised the progress of Russian Railways reform. On May 7, 2008, its regulation concerning the Russian Railways company came into force. In this document it was stated that OAO RZD and OAO The First Cargo Company (a daughter company of Russian Railways) were a group of bodies dominating at the market and that, consequently, their activities must be regulated by antimonopoly legislation. OAO RZD wrote a letter in reply, in which it disputed the opinion of FAS.
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[ELEMENT_DETAIL_PICTURE_FILE_TITLE] => Railway Reform in Russia: RZD Disputes with the Federal Antimonopoly Service
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The Ministry of Transport of Russia has suggested legalising the status of private locomotives owners, thus bringing order to access to OAO RZD’s infrastructure for companies interested in transportation by their own trains. But are the companies themselves ready to embark on this “big road”? And the main point is whether they have the economic stimulus to do it.Array
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[DETAIL_TEXT] => Concepts Separated
A scheduled session of the Interdepartmental Railway Structural Reform Commission took place in May, 2008. During discussions of changes to the Federal Law “On Railway Transport in the Russian Federation” the issue of constant, organised usage of private locomotive traction on OAO RZD’s network was raised. To be more precise, in the Ministry of Transport they consider that it is necessary to include a concept “rendering traction services” in a draft law as an independent kind of railway transportation business.
Today real competition has been already developed in the sphere of fright railcar operations. Simultaneously, creation of a competition between carriers is among the reform’s final goals. In this respect, it has been offered to create a legislative provision of an opportunity to render locomotive traction services for any company interested, and for whoever has a desire and an opportunity to invest in purchasing locomotives. Thus, Alan Lushnikov, Deputy Head of The Federal Agency for Railway Transport (Roszheldor), reminds that, according to the Target Market Model of Railway Transport Services at the Third Stage of Structural Reform, by 2010 10% of all locomotives on the railway network should already be privately owned. And it is not only about the restored locomotives, but new diesels as well.
Just as before, OAO RZD doesn’t support the above initiative, and opposes its inclusion into draft legislative documents. In the OAO RZD Locomotive Facilities Department they gave an explanation of this standpoint. Unlike the Ministry of Transport, they consider that the concept of “development of private property on mainline locomotives” and the concept of “development of competition in the sphere of locomotive traction services” are two absolutely different concepts. Yes, the Target Market Model and the Program for the Railway Transport Structural Reform really assume the development of private property on mainline locomotives. However, Alexander Akulov, the First Deputy Chief of the Department, says, that development of a competition in the sphere of the locomotive traction services is an inexpedient idea. Because locomotive traction is an integral technological element of the transportation process, thus it refers both to the activity of a carrier (movement of trains by railroads and shunting work), and to an owner of an infrastructure (shunting work, economic activities, exporting and local work).
“Turning locomotive traction services into an independent kind of activity and rubber-stamping this process can decrease the efficiency of using traction rolling stock,” Mr Akulov notes. His arguments are the following. Firstly, the existing, and now unified, technological pattern of transportation and locomotive park operations will be destroyed, when it currently allows OAO RZD to provide all network sites with traction, and to use and distribute rolling stock effectively, getting high performance out of locomotive crews and equipment. Secondly, the efficiency will decrease because any wagon owner will be able to demand a separate locomotive for his trains (even if a train consists of only one wagon). The third reason is that specialised locomotive depots, which repair certain kinds of locomotives, will fail because they were created based on the fixed locations of locomotives on the network. In addition, OAO RZD considers the condition when one carrier should give locomotives to another without fail, even when it means a lack of machines for its own operations, to be unacceptable.
OAO RZD notes that, for this exact reason, development of private property on the mainline locomotives is indicated as a goal in the Target Market Model, instead of the goal to create competition in locomotive traction services. In Mr Akulov’s opinion, The Target Model provides the following measures for development of traction rolling stock as private property:
• Working out a mechanism of state support for locomotive leasing in the form of subsidised leasing fees;
• Formation of new transport technology which would provide well-balanced joint work between carriers, infrastructure owners and locomotive owners;
• Creation of infrastructure for joint operation of locomotives which belong to several carriers or freight railcar operators.
Representatives of some private companies, including experts at OOO Firm Transgarant, maintain the point of view that it looks like it is better to leave locomotive services in the realm of OAO RZD. If they were distinguished as a separate sphere of activity, then it would be necessary to think carefully over all technological aspects of such a step.
At the same time, Victor Gusev, Director of the Locomotive Department of OAO Far-East Transport Group notes that now operators don’t benefit from getting their own mainline locomotives exactly because of absence of an opportunity for them to organise transportation. This was “due to the absolute unwillingness of RZD to lose its monopoly in traction services on the shared railway network”, he added.
And the Caravan Is Moving Forward
While discussions are active regarding whether it is necessary to allow private locomotives on the shared railway network, some companies are already successfully transporting cargoes using their own traction rolling stock. It is well-known that the first to undertake it was Vladimir Prokofiev in the company LinkОil, and it has already been 10 years since he started doing it. However, one can note that, till now, only a very few daredevils had the courage to follow his example. The OAO RZD Locomotive Facilities Department states (in its six-monthly statement regarding the maintenance of a private park of locomotives) that, if you exclude organisations which own access roads and companies whose diesel locomotives make trips on RZD’s railroads only to exchanging their carload stock, the number of private locomotives around today is about 170 units, less than one percent of OAO RZD’s park. (Here we must remember that, following the Target Model, it is desirable that in 2 years this number is to be somehow increased ten-fold).
Now the owners of locomotives are the largest companies, among them there is OOO BaltTransService, OOO Transoil, OAO Novaya Perevozochnaya Kompaniya, OOO Far-East Transport Group, OOO Firm Transgarant, etc (there are also about 15 units in the OAO RZD’s affiliated company Railroad of Yakutia). The larger part of the mainline private companies’ diesel locomotive park was acquired in 2004 -2006. It consists of quite old machines. Many of them work till now only thanks to major repairs. Usually private locomotives are used for short distances. Today the range of their service does not exceed 1,200 km.
As a whole, as operators note, working with their own trains has proved efficient because it allows them to tangibly reduce turnover of wagons, and as a result to reduce the number of wagons per rail section. Therefore companies have the opportunity to use some of their park on other, busier, routes, not to mention a reduction of delivery time and an improvement in service quality.
It is especially advantageous to use your own locomotives for managing transportation of highly profitable cargoes. The President of the National Association of Transporters Georgy Davydov says that today only certain segments of the transport market are definitely profitable where private locomotives are used, such as transportation for exporting cargoes through overland border points. The reason is the special tariffs system for this kind of transportation.
The fee for transportation of cargoes on OAO RZD’s infrastructure using owned or rented locomotives and wagons is now defined by Article 2.17 of the Tariff Regulation №10-01. The system of tariffs operating now for this kind of transportation was put into place on January 1, 1998, and neither price formation methodology, nor rates for transfers were reconsidered when a new price list was developed in 2003.
As a result, the basis for tariff formation differs from basic methodological principles of calculation for transportation rates when using of OAO RZD’s locomotives (Chapter 2 of the Tariff Regulation). “Thus, transportation of expensive cargoes by private locomotives is, naturally, more favourable compared with transportation by OAO RZD’s locomotives. Therefore, in our opinion, equal conditions for a rolling stock should be created,” said Mr Akulov of the situation.
In their turn, operators are also dissatisfied with operating tariffs on private locomotive traction services. Firstly, till now the locomotive component was not specified in the general tariff structure. Alexander Gerasimov, Deputy Chief of Locomotive Department of OOO BaltTransService, notes the following: “When calculations according to the 3rd Chapter of the Tariff Regulation take place, additional lowering coefficients are usually assumed under the words “locomotive component” (for diesel traction power the coefficient is 0.8, and for electric train power it is 0.87). Also here it is necessary to consider that the last indexation of transit tariffs in the 3rd Chapter (export through overland border points) took place in 2005. And all services connected with the service, repair and maintenance of private rolling stock, as well as the services of locomotive crews at transportations of private trains were indexed at an average 11 % a year. It turns out that, for transportations where Chapter 3 is applicable, the tariff level has not been changed since 2005 (the locomotive component is 30% of the transit fee), when expenses for machine maintenance have already grown 23%.”
Mr Shpakov draws attention to another problem, which practically all proprietors of locomotives face today. As a rule, during trips of more than 500 km there is a necessity to renew the traction. Therefore it is necessary to replace the locomotive and keep a few locomotives on different sections of the road. All of this adds complications to the process of operating private trains.” And if organising a mixed transportation using both private and RZD locomotives, it is not clear how to define a tariff, which is calculated on the basis of initial and final points of the cargo trip,” the General Director of OAO Novaya Perevozochnaya Kompaniya notes. Therefore experts at this company keep to the opinion that, for the time being, it is more efficient to use private traction facilities on distances up to 500 km, and within the territory of one railway.
Also there are other obvious gaps in the Tariff Regulation. Experts say that today it is possible to use private locomotive traction facilities according to Articles 2.17 or 3.2.14 of the Tariff Regulation, but it is practically impossible to work out a unified tariff for mixed transportation. Also, at the same time, it is impossible to establish tariffs for services when a route is divided into operational sections (the first - an electric locomotive, the second - a diesel locomotive, the third - an electric locomotive, etc.).
The Alternative is Problematic, But Not Hopeless
Operators face complications not only because the transport tariff system for private locomotives is not perfect. Another headache is connected with doing repair work on diesel locomotives. They face a long queue in OAO RZD’s depots for scheduled repairs, an increased period of time under repair, a poor quality of work, and, as a consequence, a need for further, unscheduled repairs. In addition, exceptionally high prices for repair work should also be added to the list. The phrase “abnormally worn-out units and conjunctions” is used everywhere, and it leads to a 12-30% rise in repair prices. There is no guaranteed repair quality, it is impossible to organise centralised deliveries of spare parts and materials for the private locomotive repair process at RZD’s enterprises, etc. So, as anyone can see, the problems are practically the same as those which companies always face to keep their wagon parks maintained, just worse.
There are plenty of problems connected with private locomotive repair while there is practically no repair workshop alternative to OAO RZD’s depots. And one must notice that such a situation disturbs not only operators but also OAO RZD itself, which predicts a growth in private locomotive numbers in the future. “Carrying out repair works for proprietors’ diesels in RZD’s depots will bring an additional responsibility – and therefore additional expense - for the operability of these machines between repairs. There is also the issue of occupation of repair facilities needed for maintenance of OAO RZD’s own growing locomotive park,” considers Mr Akulov. In this respect, the RZD Department of Locomotive Facilities stands for differentiation in repairs and for creation of additional maintenance workshops for proprietors’ locomotives.
So far it is too early to speak about the purchase of private locomotive repair depots (unlike wagon repair ones) by companies. In RZD they consider that, in the short and long-term, operators will not be able to make profits on such private depots, particularly if savings are compared with expenses on repairs and market prices. According to Mr Akulov, such projects can cover the costs of investment in more than 30 years (to compare, if a company with a large rolling stock owns a wagon-repair depot, it can repay investments in 45 years). But if other criteria are considered - such as terms and quality of repairs, a unified material-engineering resources provision scheme, a guarantee period and other factors that influence operating efficiency - a synergy can appear between the main business and the business of repairs.
Representatives of private companies keep to the same opinion that, at the moment, the idea of purchasing their own locomotive maintenance depots seems unrealistic, though in future it is quite possible. Creation of an alternative maintenance base would lead to improvement in the quality of repairs, reduction of time the machines spend under repair and, the main thing, a relative depreciation of such services. In other words, the market is the market, and the monopoly is the monopoly. At the same time, in RZD they emphasise, that they are on the “way to achieve a high client-oriented level of the locomotive maintenance.” After reforming the wagon facilities management system, which (as considered in RZD) resulted in an increase in the competitiveness and attractiveness of OAO RZD’s fright wagon maintenance services, now they are going to divide the sphere of their locomotive facilities into the Traction Management and Locomotive Maintenance Management.
Ordered to Him... to Whom?
Thus, by and large, now all rests on the decision of the legislator as to whether private companies will be allowed to render locomotive traction services or not, and, accordingly, whether this kind of service will develop within free market rules or as a monopoly activity. In many respects, the strategy of companies’ development depends on it (as well on the tariff formation process for this kind of transportation that is set to follow).
Meanwhile, to coordinate the work of proprietors’ locomotives that are already available, and also for the further development of private property on mainline locomotives, the Russian Ministry of Transport has issued the Order “Regarding the Confirmation of Rules for Cargo Transportation by Trains Consisting of Locomotives and Wagons, which Belong on a Property Right or Another Right Basis to Cargo Senders, Cargo Recepients, or to Other Legal Units or People, Which Are Not the Railway Transport Carriers” (№ 150 of October 22, 2007). The document has defined the order and conditions of transportation by trains which do not belong to a carrier, including:
• Places where such trains can be formed, and the proprietors of their rolling stock;
• The order of movement on shared railway infrastructure by private trains, and their technical characteristics (weight and length);
• The order of applications registration when transportation is done by trains which do not belong to a carrier;
• The order of delivery of rolling stock to: loading (and unloading) points for private trains, their formation, return after loading (and unloading), technological terms of accumulation of wagons, the time for delivery of wagons to places for cargo loading (and unloading), technological norms of loading (and unloading), time of accumulation of wagons on tracks at stations and protection of cargoes at stations during accumulation to form trains which do not belong to a carrier;
• The order of cargo transportation registration and of empty wagons running registration for private trains.
However, as Mr Davydov says (and the majority of operators agree with him), because only very few companies work with their own locomotives at the moment, such companies have already solved all the basic questions individually long ago. “For such operators new orders have only added work at registration of applications and invoices. As for those not yet working in this segment but thinking about it, the Order № 150 and other linked orders have not changed much because, just as before, based on these documents, they still wouldn’t be able to make estimates about the business with regards to their own participation in it,” the President of the National Association of Transporters states. Moreover, the representative of the Far-East Transport Group Mr Gusev considers that, though the order had brought changes, the carrier and the owner of an infrastructure have already found new «mechanisms to halt work of private trains».
In general, experts’ forecasts are that, in the near future, the park of private locomotives will slowly but steadily increase (however, their number will barely reach 10% of RZD’s park by 2010). As experience shows, operators are already ready to invest in traction rolling stock and think in the long term about creation of an alternative maintenance base.
By Nadezhda Vtorushina
Viewpoint
Alexander Gerasimov,
Deputy Chief of Locomotive Department, OOO BaltTransService:
– Today proprietors are constrained by an absence of guarantees for private locomotives to be allowed to work on common railways. No matter how actively OAO RZD stands up for the development of private operators and transportation companies, the conditions for development of commercial structures connected with repair and operation of locomotives are not stated legally. Also, non-discriminatory access to the infrastructure is not available to carriers.
Only today an order of actions for private locomotives to appear on OAO RZD’s railways is starting to be worked out - issues such as the purchase of a diesel locomotive, its registration with state bodies, obtaining the licence to run it on ways of common use, an operating procedure for private locomotive crews. Private locomotive crews are the basic means to achieve economic efficiency in transportation.
Transportation by the locomotive crews of OAO RZD does not give economic benefits, as the cost of their work is unfairly overestimated. Also there is no guarantee that, if there is a shortage of crews, private trains wouldn’t be the first for which services are suspended. As a result, companies are caught in several “traps” simultaneously. It raises uncertainty about tomorrow and, hence, unwillingness to invest in development of an infrastructure.
Valery Shpakov,
Director General, OAO Novaya Perevozochnaya Kompaniya:
– Currently, the private locomotive park is not large but one cannot accuse operators of a lack of inertia. The matter is that while the normative base is not completely developed, the future of private traction remains questionable. At the same time I am sure that the private operators’ locomotive park will certainly grow. Regarding the prospects for investment in locomotive maintenance depots, private parks are still small so construction of private depots is not economically justified. It is not excluded though, that in future private operators will express an interest in this business. Sooner or later there will come such a moment when it will be favourable for operators to have their own locomotive maintenance depots. At the same time it is wise to remember that running such depots is a complex business, both expensive and rather labour-intensive, from a technological point of view.
Igor Petrov,
Deputy Technical Policy Director, OOO Transoil:
– Using private locomotives allows us to provide delivery of cargo in the shortest time and thus to reduce the turnover of wagons considerably. Today the maximum distance over which a company transports cargo using its own locomotives is about 800 km.
As for development of locomotive maintenance bases, it certainly would stimulate competition in the rolling stock repairs market, improve the quality of locomotive maintenance, and reduce the number of unscheduled repairs. Then, the proprietor will choose which place to send a locomotive to for repair, depending on prices offered, quality, etc. First of all, these workshops should be near to places of loading/unloading or changing of locomotives in order to minimise a proprietor’s expenses to run his engine to the place. For example, now the situation is that the TCh-9 depot of Oktyabrskaya Railway (to which our diesel locomotives are assigned) is in Saint Petersburg, and formation of freight traffic is taking place at the station of Kirishi. As a result, the cost of the locomotive’s run to the workshop amounts to about a third of the bill for the maintenance service received there.
We cannot say that we are happy with the quality of repairs made by OAO RZD’s enterprises. What is to be done to improve this situation? Probably, first of all, we are to think about a more effective mechanism to make repair workshops responsible for the quality of their work. For example, instructions state that up to 50,000 km of quality running is guaranteed by a depot after a TR3 repair there (assuming the between-repairs run of the locomotive was 400,000 km). But between planned technical inspection TO3, the guarantee exists only up to the first TO2, which is only 72 hours. In fact, within this time a diesel locomotive can do no more than 1,000 km, with the between-repairs period is 15,000 km. What quality and what responsibility of the repair shop is there to speak of with such a system? The most comprehensive principle for the proprietor of a rolling stock is, in our opinion, one where repair shops take responsibility for after-service technological malfunctions in the course of the whole between-repairs period.
There is little doubt that, for the creation of a competition in the transportation market, the quantity of operators that own traction rolling stock should grow. One can feel a lack of locomotives for the growing volumes of transportation already. And moreover, today there is nowhere to buy them. Considering that 99.9% of the planned locomotive park production is intended or already bought by OAO RZD to renew its own inventory park, the proprietor can obtain locomotives only in the second-hand market. Therefore, the quality of this traction rolling stock will obviously be lower than that of OAO RZD and, consequently, more investment in its maintenance will be again necessary later to keep it in proper working order.
[~DETAIL_TEXT] => Concepts Separated
A scheduled session of the Interdepartmental Railway Structural Reform Commission took place in May, 2008. During discussions of changes to the Federal Law “On Railway Transport in the Russian Federation” the issue of constant, organised usage of private locomotive traction on OAO RZD’s network was raised. To be more precise, in the Ministry of Transport they consider that it is necessary to include a concept “rendering traction services” in a draft law as an independent kind of railway transportation business.
Today real competition has been already developed in the sphere of fright railcar operations. Simultaneously, creation of a competition between carriers is among the reform’s final goals. In this respect, it has been offered to create a legislative provision of an opportunity to render locomotive traction services for any company interested, and for whoever has a desire and an opportunity to invest in purchasing locomotives. Thus, Alan Lushnikov, Deputy Head of The Federal Agency for Railway Transport (Roszheldor), reminds that, according to the Target Market Model of Railway Transport Services at the Third Stage of Structural Reform, by 2010 10% of all locomotives on the railway network should already be privately owned. And it is not only about the restored locomotives, but new diesels as well.
Just as before, OAO RZD doesn’t support the above initiative, and opposes its inclusion into draft legislative documents. In the OAO RZD Locomotive Facilities Department they gave an explanation of this standpoint. Unlike the Ministry of Transport, they consider that the concept of “development of private property on mainline locomotives” and the concept of “development of competition in the sphere of locomotive traction services” are two absolutely different concepts. Yes, the Target Market Model and the Program for the Railway Transport Structural Reform really assume the development of private property on mainline locomotives. However, Alexander Akulov, the First Deputy Chief of the Department, says, that development of a competition in the sphere of the locomotive traction services is an inexpedient idea. Because locomotive traction is an integral technological element of the transportation process, thus it refers both to the activity of a carrier (movement of trains by railroads and shunting work), and to an owner of an infrastructure (shunting work, economic activities, exporting and local work).
“Turning locomotive traction services into an independent kind of activity and rubber-stamping this process can decrease the efficiency of using traction rolling stock,” Mr Akulov notes. His arguments are the following. Firstly, the existing, and now unified, technological pattern of transportation and locomotive park operations will be destroyed, when it currently allows OAO RZD to provide all network sites with traction, and to use and distribute rolling stock effectively, getting high performance out of locomotive crews and equipment. Secondly, the efficiency will decrease because any wagon owner will be able to demand a separate locomotive for his trains (even if a train consists of only one wagon). The third reason is that specialised locomotive depots, which repair certain kinds of locomotives, will fail because they were created based on the fixed locations of locomotives on the network. In addition, OAO RZD considers the condition when one carrier should give locomotives to another without fail, even when it means a lack of machines for its own operations, to be unacceptable.
OAO RZD notes that, for this exact reason, development of private property on the mainline locomotives is indicated as a goal in the Target Market Model, instead of the goal to create competition in locomotive traction services. In Mr Akulov’s opinion, The Target Model provides the following measures for development of traction rolling stock as private property:
• Working out a mechanism of state support for locomotive leasing in the form of subsidised leasing fees;
• Formation of new transport technology which would provide well-balanced joint work between carriers, infrastructure owners and locomotive owners;
• Creation of infrastructure for joint operation of locomotives which belong to several carriers or freight railcar operators.
Representatives of some private companies, including experts at OOO Firm Transgarant, maintain the point of view that it looks like it is better to leave locomotive services in the realm of OAO RZD. If they were distinguished as a separate sphere of activity, then it would be necessary to think carefully over all technological aspects of such a step.
At the same time, Victor Gusev, Director of the Locomotive Department of OAO Far-East Transport Group notes that now operators don’t benefit from getting their own mainline locomotives exactly because of absence of an opportunity for them to organise transportation. This was “due to the absolute unwillingness of RZD to lose its monopoly in traction services on the shared railway network”, he added.
And the Caravan Is Moving Forward
While discussions are active regarding whether it is necessary to allow private locomotives on the shared railway network, some companies are already successfully transporting cargoes using their own traction rolling stock. It is well-known that the first to undertake it was Vladimir Prokofiev in the company LinkОil, and it has already been 10 years since he started doing it. However, one can note that, till now, only a very few daredevils had the courage to follow his example. The OAO RZD Locomotive Facilities Department states (in its six-monthly statement regarding the maintenance of a private park of locomotives) that, if you exclude organisations which own access roads and companies whose diesel locomotives make trips on RZD’s railroads only to exchanging their carload stock, the number of private locomotives around today is about 170 units, less than one percent of OAO RZD’s park. (Here we must remember that, following the Target Model, it is desirable that in 2 years this number is to be somehow increased ten-fold).
Now the owners of locomotives are the largest companies, among them there is OOO BaltTransService, OOO Transoil, OAO Novaya Perevozochnaya Kompaniya, OOO Far-East Transport Group, OOO Firm Transgarant, etc (there are also about 15 units in the OAO RZD’s affiliated company Railroad of Yakutia). The larger part of the mainline private companies’ diesel locomotive park was acquired in 2004 -2006. It consists of quite old machines. Many of them work till now only thanks to major repairs. Usually private locomotives are used for short distances. Today the range of their service does not exceed 1,200 km.
As a whole, as operators note, working with their own trains has proved efficient because it allows them to tangibly reduce turnover of wagons, and as a result to reduce the number of wagons per rail section. Therefore companies have the opportunity to use some of their park on other, busier, routes, not to mention a reduction of delivery time and an improvement in service quality.
It is especially advantageous to use your own locomotives for managing transportation of highly profitable cargoes. The President of the National Association of Transporters Georgy Davydov says that today only certain segments of the transport market are definitely profitable where private locomotives are used, such as transportation for exporting cargoes through overland border points. The reason is the special tariffs system for this kind of transportation.
The fee for transportation of cargoes on OAO RZD’s infrastructure using owned or rented locomotives and wagons is now defined by Article 2.17 of the Tariff Regulation №10-01. The system of tariffs operating now for this kind of transportation was put into place on January 1, 1998, and neither price formation methodology, nor rates for transfers were reconsidered when a new price list was developed in 2003.
As a result, the basis for tariff formation differs from basic methodological principles of calculation for transportation rates when using of OAO RZD’s locomotives (Chapter 2 of the Tariff Regulation). “Thus, transportation of expensive cargoes by private locomotives is, naturally, more favourable compared with transportation by OAO RZD’s locomotives. Therefore, in our opinion, equal conditions for a rolling stock should be created,” said Mr Akulov of the situation.
In their turn, operators are also dissatisfied with operating tariffs on private locomotive traction services. Firstly, till now the locomotive component was not specified in the general tariff structure. Alexander Gerasimov, Deputy Chief of Locomotive Department of OOO BaltTransService, notes the following: “When calculations according to the 3rd Chapter of the Tariff Regulation take place, additional lowering coefficients are usually assumed under the words “locomotive component” (for diesel traction power the coefficient is 0.8, and for electric train power it is 0.87). Also here it is necessary to consider that the last indexation of transit tariffs in the 3rd Chapter (export through overland border points) took place in 2005. And all services connected with the service, repair and maintenance of private rolling stock, as well as the services of locomotive crews at transportations of private trains were indexed at an average 11 % a year. It turns out that, for transportations where Chapter 3 is applicable, the tariff level has not been changed since 2005 (the locomotive component is 30% of the transit fee), when expenses for machine maintenance have already grown 23%.”
Mr Shpakov draws attention to another problem, which practically all proprietors of locomotives face today. As a rule, during trips of more than 500 km there is a necessity to renew the traction. Therefore it is necessary to replace the locomotive and keep a few locomotives on different sections of the road. All of this adds complications to the process of operating private trains.” And if organising a mixed transportation using both private and RZD locomotives, it is not clear how to define a tariff, which is calculated on the basis of initial and final points of the cargo trip,” the General Director of OAO Novaya Perevozochnaya Kompaniya notes. Therefore experts at this company keep to the opinion that, for the time being, it is more efficient to use private traction facilities on distances up to 500 km, and within the territory of one railway.
Also there are other obvious gaps in the Tariff Regulation. Experts say that today it is possible to use private locomotive traction facilities according to Articles 2.17 or 3.2.14 of the Tariff Regulation, but it is practically impossible to work out a unified tariff for mixed transportation. Also, at the same time, it is impossible to establish tariffs for services when a route is divided into operational sections (the first - an electric locomotive, the second - a diesel locomotive, the third - an electric locomotive, etc.).
The Alternative is Problematic, But Not Hopeless
Operators face complications not only because the transport tariff system for private locomotives is not perfect. Another headache is connected with doing repair work on diesel locomotives. They face a long queue in OAO RZD’s depots for scheduled repairs, an increased period of time under repair, a poor quality of work, and, as a consequence, a need for further, unscheduled repairs. In addition, exceptionally high prices for repair work should also be added to the list. The phrase “abnormally worn-out units and conjunctions” is used everywhere, and it leads to a 12-30% rise in repair prices. There is no guaranteed repair quality, it is impossible to organise centralised deliveries of spare parts and materials for the private locomotive repair process at RZD’s enterprises, etc. So, as anyone can see, the problems are practically the same as those which companies always face to keep their wagon parks maintained, just worse.
There are plenty of problems connected with private locomotive repair while there is practically no repair workshop alternative to OAO RZD’s depots. And one must notice that such a situation disturbs not only operators but also OAO RZD itself, which predicts a growth in private locomotive numbers in the future. “Carrying out repair works for proprietors’ diesels in RZD’s depots will bring an additional responsibility – and therefore additional expense - for the operability of these machines between repairs. There is also the issue of occupation of repair facilities needed for maintenance of OAO RZD’s own growing locomotive park,” considers Mr Akulov. In this respect, the RZD Department of Locomotive Facilities stands for differentiation in repairs and for creation of additional maintenance workshops for proprietors’ locomotives.
So far it is too early to speak about the purchase of private locomotive repair depots (unlike wagon repair ones) by companies. In RZD they consider that, in the short and long-term, operators will not be able to make profits on such private depots, particularly if savings are compared with expenses on repairs and market prices. According to Mr Akulov, such projects can cover the costs of investment in more than 30 years (to compare, if a company with a large rolling stock owns a wagon-repair depot, it can repay investments in 45 years). But if other criteria are considered - such as terms and quality of repairs, a unified material-engineering resources provision scheme, a guarantee period and other factors that influence operating efficiency - a synergy can appear between the main business and the business of repairs.
Representatives of private companies keep to the same opinion that, at the moment, the idea of purchasing their own locomotive maintenance depots seems unrealistic, though in future it is quite possible. Creation of an alternative maintenance base would lead to improvement in the quality of repairs, reduction of time the machines spend under repair and, the main thing, a relative depreciation of such services. In other words, the market is the market, and the monopoly is the monopoly. At the same time, in RZD they emphasise, that they are on the “way to achieve a high client-oriented level of the locomotive maintenance.” After reforming the wagon facilities management system, which (as considered in RZD) resulted in an increase in the competitiveness and attractiveness of OAO RZD’s fright wagon maintenance services, now they are going to divide the sphere of their locomotive facilities into the Traction Management and Locomotive Maintenance Management.
Ordered to Him... to Whom?
Thus, by and large, now all rests on the decision of the legislator as to whether private companies will be allowed to render locomotive traction services or not, and, accordingly, whether this kind of service will develop within free market rules or as a monopoly activity. In many respects, the strategy of companies’ development depends on it (as well on the tariff formation process for this kind of transportation that is set to follow).
Meanwhile, to coordinate the work of proprietors’ locomotives that are already available, and also for the further development of private property on mainline locomotives, the Russian Ministry of Transport has issued the Order “Regarding the Confirmation of Rules for Cargo Transportation by Trains Consisting of Locomotives and Wagons, which Belong on a Property Right or Another Right Basis to Cargo Senders, Cargo Recepients, or to Other Legal Units or People, Which Are Not the Railway Transport Carriers” (№ 150 of October 22, 2007). The document has defined the order and conditions of transportation by trains which do not belong to a carrier, including:
• Places where such trains can be formed, and the proprietors of their rolling stock;
• The order of movement on shared railway infrastructure by private trains, and their technical characteristics (weight and length);
• The order of applications registration when transportation is done by trains which do not belong to a carrier;
• The order of delivery of rolling stock to: loading (and unloading) points for private trains, their formation, return after loading (and unloading), technological terms of accumulation of wagons, the time for delivery of wagons to places for cargo loading (and unloading), technological norms of loading (and unloading), time of accumulation of wagons on tracks at stations and protection of cargoes at stations during accumulation to form trains which do not belong to a carrier;
• The order of cargo transportation registration and of empty wagons running registration for private trains.
However, as Mr Davydov says (and the majority of operators agree with him), because only very few companies work with their own locomotives at the moment, such companies have already solved all the basic questions individually long ago. “For such operators new orders have only added work at registration of applications and invoices. As for those not yet working in this segment but thinking about it, the Order № 150 and other linked orders have not changed much because, just as before, based on these documents, they still wouldn’t be able to make estimates about the business with regards to their own participation in it,” the President of the National Association of Transporters states. Moreover, the representative of the Far-East Transport Group Mr Gusev considers that, though the order had brought changes, the carrier and the owner of an infrastructure have already found new «mechanisms to halt work of private trains».
In general, experts’ forecasts are that, in the near future, the park of private locomotives will slowly but steadily increase (however, their number will barely reach 10% of RZD’s park by 2010). As experience shows, operators are already ready to invest in traction rolling stock and think in the long term about creation of an alternative maintenance base.
By Nadezhda Vtorushina
Viewpoint
Alexander Gerasimov,
Deputy Chief of Locomotive Department, OOO BaltTransService:
– Today proprietors are constrained by an absence of guarantees for private locomotives to be allowed to work on common railways. No matter how actively OAO RZD stands up for the development of private operators and transportation companies, the conditions for development of commercial structures connected with repair and operation of locomotives are not stated legally. Also, non-discriminatory access to the infrastructure is not available to carriers.
Only today an order of actions for private locomotives to appear on OAO RZD’s railways is starting to be worked out - issues such as the purchase of a diesel locomotive, its registration with state bodies, obtaining the licence to run it on ways of common use, an operating procedure for private locomotive crews. Private locomotive crews are the basic means to achieve economic efficiency in transportation.
Transportation by the locomotive crews of OAO RZD does not give economic benefits, as the cost of their work is unfairly overestimated. Also there is no guarantee that, if there is a shortage of crews, private trains wouldn’t be the first for which services are suspended. As a result, companies are caught in several “traps” simultaneously. It raises uncertainty about tomorrow and, hence, unwillingness to invest in development of an infrastructure.
Valery Shpakov,
Director General, OAO Novaya Perevozochnaya Kompaniya:
– Currently, the private locomotive park is not large but one cannot accuse operators of a lack of inertia. The matter is that while the normative base is not completely developed, the future of private traction remains questionable. At the same time I am sure that the private operators’ locomotive park will certainly grow. Regarding the prospects for investment in locomotive maintenance depots, private parks are still small so construction of private depots is not economically justified. It is not excluded though, that in future private operators will express an interest in this business. Sooner or later there will come such a moment when it will be favourable for operators to have their own locomotive maintenance depots. At the same time it is wise to remember that running such depots is a complex business, both expensive and rather labour-intensive, from a technological point of view.
Igor Petrov,
Deputy Technical Policy Director, OOO Transoil:
– Using private locomotives allows us to provide delivery of cargo in the shortest time and thus to reduce the turnover of wagons considerably. Today the maximum distance over which a company transports cargo using its own locomotives is about 800 km.
As for development of locomotive maintenance bases, it certainly would stimulate competition in the rolling stock repairs market, improve the quality of locomotive maintenance, and reduce the number of unscheduled repairs. Then, the proprietor will choose which place to send a locomotive to for repair, depending on prices offered, quality, etc. First of all, these workshops should be near to places of loading/unloading or changing of locomotives in order to minimise a proprietor’s expenses to run his engine to the place. For example, now the situation is that the TCh-9 depot of Oktyabrskaya Railway (to which our diesel locomotives are assigned) is in Saint Petersburg, and formation of freight traffic is taking place at the station of Kirishi. As a result, the cost of the locomotive’s run to the workshop amounts to about a third of the bill for the maintenance service received there.
We cannot say that we are happy with the quality of repairs made by OAO RZD’s enterprises. What is to be done to improve this situation? Probably, first of all, we are to think about a more effective mechanism to make repair workshops responsible for the quality of their work. For example, instructions state that up to 50,000 km of quality running is guaranteed by a depot after a TR3 repair there (assuming the between-repairs run of the locomotive was 400,000 km). But between planned technical inspection TO3, the guarantee exists only up to the first TO2, which is only 72 hours. In fact, within this time a diesel locomotive can do no more than 1,000 km, with the between-repairs period is 15,000 km. What quality and what responsibility of the repair shop is there to speak of with such a system? The most comprehensive principle for the proprietor of a rolling stock is, in our opinion, one where repair shops take responsibility for after-service technological malfunctions in the course of the whole between-repairs period.
There is little doubt that, for the creation of a competition in the transportation market, the quantity of operators that own traction rolling stock should grow. One can feel a lack of locomotives for the growing volumes of transportation already. And moreover, today there is nowhere to buy them. Considering that 99.9% of the planned locomotive park production is intended or already bought by OAO RZD to renew its own inventory park, the proprietor can obtain locomotives only in the second-hand market. Therefore, the quality of this traction rolling stock will obviously be lower than that of OAO RZD and, consequently, more investment in its maintenance will be again necessary later to keep it in proper working order.
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[PREVIEW_TEXT] => The Ministry of Transport of Russia has suggested legalising the status of private locomotives owners, thus bringing order to access to OAO RZD’s infrastructure for companies interested in transportation by their own trains. But are the companies themselves ready to embark on this “big road”? And the main point is whether they have the economic stimulus to do it.
[~PREVIEW_TEXT] => The Ministry of Transport of Russia has suggested legalising the status of private locomotives owners, thus bringing order to access to OAO RZD’s infrastructure for companies interested in transportation by their own trains. But are the companies themselves ready to embark on this “big road”? And the main point is whether they have the economic stimulus to do it.
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[SECTION_META_DESCRIPTION] => <img src="/ufiles/image/rus/partner/2008/3/1.jpg" border="1" alt=" " hspace="3" vspace="3" width="120" height="158" align="left" />The Ministry of Transport of Russia has suggested legalising the status of private locomotives owners, thus bringing order to access to OAO RZD’s infrastructure for companies interested in transportation by their own trains. But are the companies themselves ready to embark on this “big road”? And the main point is whether they have the economic stimulus to do it.
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[DETAIL_TEXT] => Concepts Separated
A scheduled session of the Interdepartmental Railway Structural Reform Commission took place in May, 2008. During discussions of changes to the Federal Law “On Railway Transport in the Russian Federation” the issue of constant, organised usage of private locomotive traction on OAO RZD’s network was raised. To be more precise, in the Ministry of Transport they consider that it is necessary to include a concept “rendering traction services” in a draft law as an independent kind of railway transportation business.
Today real competition has been already developed in the sphere of fright railcar operations. Simultaneously, creation of a competition between carriers is among the reform’s final goals. In this respect, it has been offered to create a legislative provision of an opportunity to render locomotive traction services for any company interested, and for whoever has a desire and an opportunity to invest in purchasing locomotives. Thus, Alan Lushnikov, Deputy Head of The Federal Agency for Railway Transport (Roszheldor), reminds that, according to the Target Market Model of Railway Transport Services at the Third Stage of Structural Reform, by 2010 10% of all locomotives on the railway network should already be privately owned. And it is not only about the restored locomotives, but new diesels as well.
Just as before, OAO RZD doesn’t support the above initiative, and opposes its inclusion into draft legislative documents. In the OAO RZD Locomotive Facilities Department they gave an explanation of this standpoint. Unlike the Ministry of Transport, they consider that the concept of “development of private property on mainline locomotives” and the concept of “development of competition in the sphere of locomotive traction services” are two absolutely different concepts. Yes, the Target Market Model and the Program for the Railway Transport Structural Reform really assume the development of private property on mainline locomotives. However, Alexander Akulov, the First Deputy Chief of the Department, says, that development of a competition in the sphere of the locomotive traction services is an inexpedient idea. Because locomotive traction is an integral technological element of the transportation process, thus it refers both to the activity of a carrier (movement of trains by railroads and shunting work), and to an owner of an infrastructure (shunting work, economic activities, exporting and local work).
“Turning locomotive traction services into an independent kind of activity and rubber-stamping this process can decrease the efficiency of using traction rolling stock,” Mr Akulov notes. His arguments are the following. Firstly, the existing, and now unified, technological pattern of transportation and locomotive park operations will be destroyed, when it currently allows OAO RZD to provide all network sites with traction, and to use and distribute rolling stock effectively, getting high performance out of locomotive crews and equipment. Secondly, the efficiency will decrease because any wagon owner will be able to demand a separate locomotive for his trains (even if a train consists of only one wagon). The third reason is that specialised locomotive depots, which repair certain kinds of locomotives, will fail because they were created based on the fixed locations of locomotives on the network. In addition, OAO RZD considers the condition when one carrier should give locomotives to another without fail, even when it means a lack of machines for its own operations, to be unacceptable.
OAO RZD notes that, for this exact reason, development of private property on the mainline locomotives is indicated as a goal in the Target Market Model, instead of the goal to create competition in locomotive traction services. In Mr Akulov’s opinion, The Target Model provides the following measures for development of traction rolling stock as private property:
• Working out a mechanism of state support for locomotive leasing in the form of subsidised leasing fees;
• Formation of new transport technology which would provide well-balanced joint work between carriers, infrastructure owners and locomotive owners;
• Creation of infrastructure for joint operation of locomotives which belong to several carriers or freight railcar operators.
Representatives of some private companies, including experts at OOO Firm Transgarant, maintain the point of view that it looks like it is better to leave locomotive services in the realm of OAO RZD. If they were distinguished as a separate sphere of activity, then it would be necessary to think carefully over all technological aspects of such a step.
At the same time, Victor Gusev, Director of the Locomotive Department of OAO Far-East Transport Group notes that now operators don’t benefit from getting their own mainline locomotives exactly because of absence of an opportunity for them to organise transportation. This was “due to the absolute unwillingness of RZD to lose its monopoly in traction services on the shared railway network”, he added.
And the Caravan Is Moving Forward
While discussions are active regarding whether it is necessary to allow private locomotives on the shared railway network, some companies are already successfully transporting cargoes using their own traction rolling stock. It is well-known that the first to undertake it was Vladimir Prokofiev in the company LinkОil, and it has already been 10 years since he started doing it. However, one can note that, till now, only a very few daredevils had the courage to follow his example. The OAO RZD Locomotive Facilities Department states (in its six-monthly statement regarding the maintenance of a private park of locomotives) that, if you exclude organisations which own access roads and companies whose diesel locomotives make trips on RZD’s railroads only to exchanging their carload stock, the number of private locomotives around today is about 170 units, less than one percent of OAO RZD’s park. (Here we must remember that, following the Target Model, it is desirable that in 2 years this number is to be somehow increased ten-fold).
Now the owners of locomotives are the largest companies, among them there is OOO BaltTransService, OOO Transoil, OAO Novaya Perevozochnaya Kompaniya, OOO Far-East Transport Group, OOO Firm Transgarant, etc (there are also about 15 units in the OAO RZD’s affiliated company Railroad of Yakutia). The larger part of the mainline private companies’ diesel locomotive park was acquired in 2004 -2006. It consists of quite old machines. Many of them work till now only thanks to major repairs. Usually private locomotives are used for short distances. Today the range of their service does not exceed 1,200 km.
As a whole, as operators note, working with their own trains has proved efficient because it allows them to tangibly reduce turnover of wagons, and as a result to reduce the number of wagons per rail section. Therefore companies have the opportunity to use some of their park on other, busier, routes, not to mention a reduction of delivery time and an improvement in service quality.
It is especially advantageous to use your own locomotives for managing transportation of highly profitable cargoes. The President of the National Association of Transporters Georgy Davydov says that today only certain segments of the transport market are definitely profitable where private locomotives are used, such as transportation for exporting cargoes through overland border points. The reason is the special tariffs system for this kind of transportation.
The fee for transportation of cargoes on OAO RZD’s infrastructure using owned or rented locomotives and wagons is now defined by Article 2.17 of the Tariff Regulation №10-01. The system of tariffs operating now for this kind of transportation was put into place on January 1, 1998, and neither price formation methodology, nor rates for transfers were reconsidered when a new price list was developed in 2003.
As a result, the basis for tariff formation differs from basic methodological principles of calculation for transportation rates when using of OAO RZD’s locomotives (Chapter 2 of the Tariff Regulation). “Thus, transportation of expensive cargoes by private locomotives is, naturally, more favourable compared with transportation by OAO RZD’s locomotives. Therefore, in our opinion, equal conditions for a rolling stock should be created,” said Mr Akulov of the situation.
In their turn, operators are also dissatisfied with operating tariffs on private locomotive traction services. Firstly, till now the locomotive component was not specified in the general tariff structure. Alexander Gerasimov, Deputy Chief of Locomotive Department of OOO BaltTransService, notes the following: “When calculations according to the 3rd Chapter of the Tariff Regulation take place, additional lowering coefficients are usually assumed under the words “locomotive component” (for diesel traction power the coefficient is 0.8, and for electric train power it is 0.87). Also here it is necessary to consider that the last indexation of transit tariffs in the 3rd Chapter (export through overland border points) took place in 2005. And all services connected with the service, repair and maintenance of private rolling stock, as well as the services of locomotive crews at transportations of private trains were indexed at an average 11 % a year. It turns out that, for transportations where Chapter 3 is applicable, the tariff level has not been changed since 2005 (the locomotive component is 30% of the transit fee), when expenses for machine maintenance have already grown 23%.”
Mr Shpakov draws attention to another problem, which practically all proprietors of locomotives face today. As a rule, during trips of more than 500 km there is a necessity to renew the traction. Therefore it is necessary to replace the locomotive and keep a few locomotives on different sections of the road. All of this adds complications to the process of operating private trains.” And if organising a mixed transportation using both private and RZD locomotives, it is not clear how to define a tariff, which is calculated on the basis of initial and final points of the cargo trip,” the General Director of OAO Novaya Perevozochnaya Kompaniya notes. Therefore experts at this company keep to the opinion that, for the time being, it is more efficient to use private traction facilities on distances up to 500 km, and within the territory of one railway.
Also there are other obvious gaps in the Tariff Regulation. Experts say that today it is possible to use private locomotive traction facilities according to Articles 2.17 or 3.2.14 of the Tariff Regulation, but it is practically impossible to work out a unified tariff for mixed transportation. Also, at the same time, it is impossible to establish tariffs for services when a route is divided into operational sections (the first - an electric locomotive, the second - a diesel locomotive, the third - an electric locomotive, etc.).
The Alternative is Problematic, But Not Hopeless
Operators face complications not only because the transport tariff system for private locomotives is not perfect. Another headache is connected with doing repair work on diesel locomotives. They face a long queue in OAO RZD’s depots for scheduled repairs, an increased period of time under repair, a poor quality of work, and, as a consequence, a need for further, unscheduled repairs. In addition, exceptionally high prices for repair work should also be added to the list. The phrase “abnormally worn-out units and conjunctions” is used everywhere, and it leads to a 12-30% rise in repair prices. There is no guaranteed repair quality, it is impossible to organise centralised deliveries of spare parts and materials for the private locomotive repair process at RZD’s enterprises, etc. So, as anyone can see, the problems are practically the same as those which companies always face to keep their wagon parks maintained, just worse.
There are plenty of problems connected with private locomotive repair while there is practically no repair workshop alternative to OAO RZD’s depots. And one must notice that such a situation disturbs not only operators but also OAO RZD itself, which predicts a growth in private locomotive numbers in the future. “Carrying out repair works for proprietors’ diesels in RZD’s depots will bring an additional responsibility – and therefore additional expense - for the operability of these machines between repairs. There is also the issue of occupation of repair facilities needed for maintenance of OAO RZD’s own growing locomotive park,” considers Mr Akulov. In this respect, the RZD Department of Locomotive Facilities stands for differentiation in repairs and for creation of additional maintenance workshops for proprietors’ locomotives.
So far it is too early to speak about the purchase of private locomotive repair depots (unlike wagon repair ones) by companies. In RZD they consider that, in the short and long-term, operators will not be able to make profits on such private depots, particularly if savings are compared with expenses on repairs and market prices. According to Mr Akulov, such projects can cover the costs of investment in more than 30 years (to compare, if a company with a large rolling stock owns a wagon-repair depot, it can repay investments in 45 years). But if other criteria are considered - such as terms and quality of repairs, a unified material-engineering resources provision scheme, a guarantee period and other factors that influence operating efficiency - a synergy can appear between the main business and the business of repairs.
Representatives of private companies keep to the same opinion that, at the moment, the idea of purchasing their own locomotive maintenance depots seems unrealistic, though in future it is quite possible. Creation of an alternative maintenance base would lead to improvement in the quality of repairs, reduction of time the machines spend under repair and, the main thing, a relative depreciation of such services. In other words, the market is the market, and the monopoly is the monopoly. At the same time, in RZD they emphasise, that they are on the “way to achieve a high client-oriented level of the locomotive maintenance.” After reforming the wagon facilities management system, which (as considered in RZD) resulted in an increase in the competitiveness and attractiveness of OAO RZD’s fright wagon maintenance services, now they are going to divide the sphere of their locomotive facilities into the Traction Management and Locomotive Maintenance Management.
Ordered to Him... to Whom?
Thus, by and large, now all rests on the decision of the legislator as to whether private companies will be allowed to render locomotive traction services or not, and, accordingly, whether this kind of service will develop within free market rules or as a monopoly activity. In many respects, the strategy of companies’ development depends on it (as well on the tariff formation process for this kind of transportation that is set to follow).
Meanwhile, to coordinate the work of proprietors’ locomotives that are already available, and also for the further development of private property on mainline locomotives, the Russian Ministry of Transport has issued the Order “Regarding the Confirmation of Rules for Cargo Transportation by Trains Consisting of Locomotives and Wagons, which Belong on a Property Right or Another Right Basis to Cargo Senders, Cargo Recepients, or to Other Legal Units or People, Which Are Not the Railway Transport Carriers” (№ 150 of October 22, 2007). The document has defined the order and conditions of transportation by trains which do not belong to a carrier, including:
• Places where such trains can be formed, and the proprietors of their rolling stock;
• The order of movement on shared railway infrastructure by private trains, and their technical characteristics (weight and length);
• The order of applications registration when transportation is done by trains which do not belong to a carrier;
• The order of delivery of rolling stock to: loading (and unloading) points for private trains, their formation, return after loading (and unloading), technological terms of accumulation of wagons, the time for delivery of wagons to places for cargo loading (and unloading), technological norms of loading (and unloading), time of accumulation of wagons on tracks at stations and protection of cargoes at stations during accumulation to form trains which do not belong to a carrier;
• The order of cargo transportation registration and of empty wagons running registration for private trains.
However, as Mr Davydov says (and the majority of operators agree with him), because only very few companies work with their own locomotives at the moment, such companies have already solved all the basic questions individually long ago. “For such operators new orders have only added work at registration of applications and invoices. As for those not yet working in this segment but thinking about it, the Order № 150 and other linked orders have not changed much because, just as before, based on these documents, they still wouldn’t be able to make estimates about the business with regards to their own participation in it,” the President of the National Association of Transporters states. Moreover, the representative of the Far-East Transport Group Mr Gusev considers that, though the order had brought changes, the carrier and the owner of an infrastructure have already found new «mechanisms to halt work of private trains».
In general, experts’ forecasts are that, in the near future, the park of private locomotives will slowly but steadily increase (however, their number will barely reach 10% of RZD’s park by 2010). As experience shows, operators are already ready to invest in traction rolling stock and think in the long term about creation of an alternative maintenance base.
By Nadezhda Vtorushina
Viewpoint
Alexander Gerasimov,
Deputy Chief of Locomotive Department, OOO BaltTransService:
– Today proprietors are constrained by an absence of guarantees for private locomotives to be allowed to work on common railways. No matter how actively OAO RZD stands up for the development of private operators and transportation companies, the conditions for development of commercial structures connected with repair and operation of locomotives are not stated legally. Also, non-discriminatory access to the infrastructure is not available to carriers.
Only today an order of actions for private locomotives to appear on OAO RZD’s railways is starting to be worked out - issues such as the purchase of a diesel locomotive, its registration with state bodies, obtaining the licence to run it on ways of common use, an operating procedure for private locomotive crews. Private locomotive crews are the basic means to achieve economic efficiency in transportation.
Transportation by the locomotive crews of OAO RZD does not give economic benefits, as the cost of their work is unfairly overestimated. Also there is no guarantee that, if there is a shortage of crews, private trains wouldn’t be the first for which services are suspended. As a result, companies are caught in several “traps” simultaneously. It raises uncertainty about tomorrow and, hence, unwillingness to invest in development of an infrastructure.
Valery Shpakov,
Director General, OAO Novaya Perevozochnaya Kompaniya:
– Currently, the private locomotive park is not large but one cannot accuse operators of a lack of inertia. The matter is that while the normative base is not completely developed, the future of private traction remains questionable. At the same time I am sure that the private operators’ locomotive park will certainly grow. Regarding the prospects for investment in locomotive maintenance depots, private parks are still small so construction of private depots is not economically justified. It is not excluded though, that in future private operators will express an interest in this business. Sooner or later there will come such a moment when it will be favourable for operators to have their own locomotive maintenance depots. At the same time it is wise to remember that running such depots is a complex business, both expensive and rather labour-intensive, from a technological point of view.
Igor Petrov,
Deputy Technical Policy Director, OOO Transoil:
– Using private locomotives allows us to provide delivery of cargo in the shortest time and thus to reduce the turnover of wagons considerably. Today the maximum distance over which a company transports cargo using its own locomotives is about 800 km.
As for development of locomotive maintenance bases, it certainly would stimulate competition in the rolling stock repairs market, improve the quality of locomotive maintenance, and reduce the number of unscheduled repairs. Then, the proprietor will choose which place to send a locomotive to for repair, depending on prices offered, quality, etc. First of all, these workshops should be near to places of loading/unloading or changing of locomotives in order to minimise a proprietor’s expenses to run his engine to the place. For example, now the situation is that the TCh-9 depot of Oktyabrskaya Railway (to which our diesel locomotives are assigned) is in Saint Petersburg, and formation of freight traffic is taking place at the station of Kirishi. As a result, the cost of the locomotive’s run to the workshop amounts to about a third of the bill for the maintenance service received there.
We cannot say that we are happy with the quality of repairs made by OAO RZD’s enterprises. What is to be done to improve this situation? Probably, first of all, we are to think about a more effective mechanism to make repair workshops responsible for the quality of their work. For example, instructions state that up to 50,000 km of quality running is guaranteed by a depot after a TR3 repair there (assuming the between-repairs run of the locomotive was 400,000 km). But between planned technical inspection TO3, the guarantee exists only up to the first TO2, which is only 72 hours. In fact, within this time a diesel locomotive can do no more than 1,000 km, with the between-repairs period is 15,000 km. What quality and what responsibility of the repair shop is there to speak of with such a system? The most comprehensive principle for the proprietor of a rolling stock is, in our opinion, one where repair shops take responsibility for after-service technological malfunctions in the course of the whole between-repairs period.
There is little doubt that, for the creation of a competition in the transportation market, the quantity of operators that own traction rolling stock should grow. One can feel a lack of locomotives for the growing volumes of transportation already. And moreover, today there is nowhere to buy them. Considering that 99.9% of the planned locomotive park production is intended or already bought by OAO RZD to renew its own inventory park, the proprietor can obtain locomotives only in the second-hand market. Therefore, the quality of this traction rolling stock will obviously be lower than that of OAO RZD and, consequently, more investment in its maintenance will be again necessary later to keep it in proper working order.
[~DETAIL_TEXT] => Concepts Separated
A scheduled session of the Interdepartmental Railway Structural Reform Commission took place in May, 2008. During discussions of changes to the Federal Law “On Railway Transport in the Russian Federation” the issue of constant, organised usage of private locomotive traction on OAO RZD’s network was raised. To be more precise, in the Ministry of Transport they consider that it is necessary to include a concept “rendering traction services” in a draft law as an independent kind of railway transportation business.
Today real competition has been already developed in the sphere of fright railcar operations. Simultaneously, creation of a competition between carriers is among the reform’s final goals. In this respect, it has been offered to create a legislative provision of an opportunity to render locomotive traction services for any company interested, and for whoever has a desire and an opportunity to invest in purchasing locomotives. Thus, Alan Lushnikov, Deputy Head of The Federal Agency for Railway Transport (Roszheldor), reminds that, according to the Target Market Model of Railway Transport Services at the Third Stage of Structural Reform, by 2010 10% of all locomotives on the railway network should already be privately owned. And it is not only about the restored locomotives, but new diesels as well.
Just as before, OAO RZD doesn’t support the above initiative, and opposes its inclusion into draft legislative documents. In the OAO RZD Locomotive Facilities Department they gave an explanation of this standpoint. Unlike the Ministry of Transport, they consider that the concept of “development of private property on mainline locomotives” and the concept of “development of competition in the sphere of locomotive traction services” are two absolutely different concepts. Yes, the Target Market Model and the Program for the Railway Transport Structural Reform really assume the development of private property on mainline locomotives. However, Alexander Akulov, the First Deputy Chief of the Department, says, that development of a competition in the sphere of the locomotive traction services is an inexpedient idea. Because locomotive traction is an integral technological element of the transportation process, thus it refers both to the activity of a carrier (movement of trains by railroads and shunting work), and to an owner of an infrastructure (shunting work, economic activities, exporting and local work).
“Turning locomotive traction services into an independent kind of activity and rubber-stamping this process can decrease the efficiency of using traction rolling stock,” Mr Akulov notes. His arguments are the following. Firstly, the existing, and now unified, technological pattern of transportation and locomotive park operations will be destroyed, when it currently allows OAO RZD to provide all network sites with traction, and to use and distribute rolling stock effectively, getting high performance out of locomotive crews and equipment. Secondly, the efficiency will decrease because any wagon owner will be able to demand a separate locomotive for his trains (even if a train consists of only one wagon). The third reason is that specialised locomotive depots, which repair certain kinds of locomotives, will fail because they were created based on the fixed locations of locomotives on the network. In addition, OAO RZD considers the condition when one carrier should give locomotives to another without fail, even when it means a lack of machines for its own operations, to be unacceptable.
OAO RZD notes that, for this exact reason, development of private property on the mainline locomotives is indicated as a goal in the Target Market Model, instead of the goal to create competition in locomotive traction services. In Mr Akulov’s opinion, The Target Model provides the following measures for development of traction rolling stock as private property:
• Working out a mechanism of state support for locomotive leasing in the form of subsidised leasing fees;
• Formation of new transport technology which would provide well-balanced joint work between carriers, infrastructure owners and locomotive owners;
• Creation of infrastructure for joint operation of locomotives which belong to several carriers or freight railcar operators.
Representatives of some private companies, including experts at OOO Firm Transgarant, maintain the point of view that it looks like it is better to leave locomotive services in the realm of OAO RZD. If they were distinguished as a separate sphere of activity, then it would be necessary to think carefully over all technological aspects of such a step.
At the same time, Victor Gusev, Director of the Locomotive Department of OAO Far-East Transport Group notes that now operators don’t benefit from getting their own mainline locomotives exactly because of absence of an opportunity for them to organise transportation. This was “due to the absolute unwillingness of RZD to lose its monopoly in traction services on the shared railway network”, he added.
And the Caravan Is Moving Forward
While discussions are active regarding whether it is necessary to allow private locomotives on the shared railway network, some companies are already successfully transporting cargoes using their own traction rolling stock. It is well-known that the first to undertake it was Vladimir Prokofiev in the company LinkОil, and it has already been 10 years since he started doing it. However, one can note that, till now, only a very few daredevils had the courage to follow his example. The OAO RZD Locomotive Facilities Department states (in its six-monthly statement regarding the maintenance of a private park of locomotives) that, if you exclude organisations which own access roads and companies whose diesel locomotives make trips on RZD’s railroads only to exchanging their carload stock, the number of private locomotives around today is about 170 units, less than one percent of OAO RZD’s park. (Here we must remember that, following the Target Model, it is desirable that in 2 years this number is to be somehow increased ten-fold).
Now the owners of locomotives are the largest companies, among them there is OOO BaltTransService, OOO Transoil, OAO Novaya Perevozochnaya Kompaniya, OOO Far-East Transport Group, OOO Firm Transgarant, etc (there are also about 15 units in the OAO RZD’s affiliated company Railroad of Yakutia). The larger part of the mainline private companies’ diesel locomotive park was acquired in 2004 -2006. It consists of quite old machines. Many of them work till now only thanks to major repairs. Usually private locomotives are used for short distances. Today the range of their service does not exceed 1,200 km.
As a whole, as operators note, working with their own trains has proved efficient because it allows them to tangibly reduce turnover of wagons, and as a result to reduce the number of wagons per rail section. Therefore companies have the opportunity to use some of their park on other, busier, routes, not to mention a reduction of delivery time and an improvement in service quality.
It is especially advantageous to use your own locomotives for managing transportation of highly profitable cargoes. The President of the National Association of Transporters Georgy Davydov says that today only certain segments of the transport market are definitely profitable where private locomotives are used, such as transportation for exporting cargoes through overland border points. The reason is the special tariffs system for this kind of transportation.
The fee for transportation of cargoes on OAO RZD’s infrastructure using owned or rented locomotives and wagons is now defined by Article 2.17 of the Tariff Regulation №10-01. The system of tariffs operating now for this kind of transportation was put into place on January 1, 1998, and neither price formation methodology, nor rates for transfers were reconsidered when a new price list was developed in 2003.
As a result, the basis for tariff formation differs from basic methodological principles of calculation for transportation rates when using of OAO RZD’s locomotives (Chapter 2 of the Tariff Regulation). “Thus, transportation of expensive cargoes by private locomotives is, naturally, more favourable compared with transportation by OAO RZD’s locomotives. Therefore, in our opinion, equal conditions for a rolling stock should be created,” said Mr Akulov of the situation.
In their turn, operators are also dissatisfied with operating tariffs on private locomotive traction services. Firstly, till now the locomotive component was not specified in the general tariff structure. Alexander Gerasimov, Deputy Chief of Locomotive Department of OOO BaltTransService, notes the following: “When calculations according to the 3rd Chapter of the Tariff Regulation take place, additional lowering coefficients are usually assumed under the words “locomotive component” (for diesel traction power the coefficient is 0.8, and for electric train power it is 0.87). Also here it is necessary to consider that the last indexation of transit tariffs in the 3rd Chapter (export through overland border points) took place in 2005. And all services connected with the service, repair and maintenance of private rolling stock, as well as the services of locomotive crews at transportations of private trains were indexed at an average 11 % a year. It turns out that, for transportations where Chapter 3 is applicable, the tariff level has not been changed since 2005 (the locomotive component is 30% of the transit fee), when expenses for machine maintenance have already grown 23%.”
Mr Shpakov draws attention to another problem, which practically all proprietors of locomotives face today. As a rule, during trips of more than 500 km there is a necessity to renew the traction. Therefore it is necessary to replace the locomotive and keep a few locomotives on different sections of the road. All of this adds complications to the process of operating private trains.” And if organising a mixed transportation using both private and RZD locomotives, it is not clear how to define a tariff, which is calculated on the basis of initial and final points of the cargo trip,” the General Director of OAO Novaya Perevozochnaya Kompaniya notes. Therefore experts at this company keep to the opinion that, for the time being, it is more efficient to use private traction facilities on distances up to 500 km, and within the territory of one railway.
Also there are other obvious gaps in the Tariff Regulation. Experts say that today it is possible to use private locomotive traction facilities according to Articles 2.17 or 3.2.14 of the Tariff Regulation, but it is practically impossible to work out a unified tariff for mixed transportation. Also, at the same time, it is impossible to establish tariffs for services when a route is divided into operational sections (the first - an electric locomotive, the second - a diesel locomotive, the third - an electric locomotive, etc.).
The Alternative is Problematic, But Not Hopeless
Operators face complications not only because the transport tariff system for private locomotives is not perfect. Another headache is connected with doing repair work on diesel locomotives. They face a long queue in OAO RZD’s depots for scheduled repairs, an increased period of time under repair, a poor quality of work, and, as a consequence, a need for further, unscheduled repairs. In addition, exceptionally high prices for repair work should also be added to the list. The phrase “abnormally worn-out units and conjunctions” is used everywhere, and it leads to a 12-30% rise in repair prices. There is no guaranteed repair quality, it is impossible to organise centralised deliveries of spare parts and materials for the private locomotive repair process at RZD’s enterprises, etc. So, as anyone can see, the problems are practically the same as those which companies always face to keep their wagon parks maintained, just worse.
There are plenty of problems connected with private locomotive repair while there is practically no repair workshop alternative to OAO RZD’s depots. And one must notice that such a situation disturbs not only operators but also OAO RZD itself, which predicts a growth in private locomotive numbers in the future. “Carrying out repair works for proprietors’ diesels in RZD’s depots will bring an additional responsibility – and therefore additional expense - for the operability of these machines between repairs. There is also the issue of occupation of repair facilities needed for maintenance of OAO RZD’s own growing locomotive park,” considers Mr Akulov. In this respect, the RZD Department of Locomotive Facilities stands for differentiation in repairs and for creation of additional maintenance workshops for proprietors’ locomotives.
So far it is too early to speak about the purchase of private locomotive repair depots (unlike wagon repair ones) by companies. In RZD they consider that, in the short and long-term, operators will not be able to make profits on such private depots, particularly if savings are compared with expenses on repairs and market prices. According to Mr Akulov, such projects can cover the costs of investment in more than 30 years (to compare, if a company with a large rolling stock owns a wagon-repair depot, it can repay investments in 45 years). But if other criteria are considered - such as terms and quality of repairs, a unified material-engineering resources provision scheme, a guarantee period and other factors that influence operating efficiency - a synergy can appear between the main business and the business of repairs.
Representatives of private companies keep to the same opinion that, at the moment, the idea of purchasing their own locomotive maintenance depots seems unrealistic, though in future it is quite possible. Creation of an alternative maintenance base would lead to improvement in the quality of repairs, reduction of time the machines spend under repair and, the main thing, a relative depreciation of such services. In other words, the market is the market, and the monopoly is the monopoly. At the same time, in RZD they emphasise, that they are on the “way to achieve a high client-oriented level of the locomotive maintenance.” After reforming the wagon facilities management system, which (as considered in RZD) resulted in an increase in the competitiveness and attractiveness of OAO RZD’s fright wagon maintenance services, now they are going to divide the sphere of their locomotive facilities into the Traction Management and Locomotive Maintenance Management.
Ordered to Him... to Whom?
Thus, by and large, now all rests on the decision of the legislator as to whether private companies will be allowed to render locomotive traction services or not, and, accordingly, whether this kind of service will develop within free market rules or as a monopoly activity. In many respects, the strategy of companies’ development depends on it (as well on the tariff formation process for this kind of transportation that is set to follow).
Meanwhile, to coordinate the work of proprietors’ locomotives that are already available, and also for the further development of private property on mainline locomotives, the Russian Ministry of Transport has issued the Order “Regarding the Confirmation of Rules for Cargo Transportation by Trains Consisting of Locomotives and Wagons, which Belong on a Property Right or Another Right Basis to Cargo Senders, Cargo Recepients, or to Other Legal Units or People, Which Are Not the Railway Transport Carriers” (№ 150 of October 22, 2007). The document has defined the order and conditions of transportation by trains which do not belong to a carrier, including:
• Places where such trains can be formed, and the proprietors of their rolling stock;
• The order of movement on shared railway infrastructure by private trains, and their technical characteristics (weight and length);
• The order of applications registration when transportation is done by trains which do not belong to a carrier;
• The order of delivery of rolling stock to: loading (and unloading) points for private trains, their formation, return after loading (and unloading), technological terms of accumulation of wagons, the time for delivery of wagons to places for cargo loading (and unloading), technological norms of loading (and unloading), time of accumulation of wagons on tracks at stations and protection of cargoes at stations during accumulation to form trains which do not belong to a carrier;
• The order of cargo transportation registration and of empty wagons running registration for private trains.
However, as Mr Davydov says (and the majority of operators agree with him), because only very few companies work with their own locomotives at the moment, such companies have already solved all the basic questions individually long ago. “For such operators new orders have only added work at registration of applications and invoices. As for those not yet working in this segment but thinking about it, the Order № 150 and other linked orders have not changed much because, just as before, based on these documents, they still wouldn’t be able to make estimates about the business with regards to their own participation in it,” the President of the National Association of Transporters states. Moreover, the representative of the Far-East Transport Group Mr Gusev considers that, though the order had brought changes, the carrier and the owner of an infrastructure have already found new «mechanisms to halt work of private trains».
In general, experts’ forecasts are that, in the near future, the park of private locomotives will slowly but steadily increase (however, their number will barely reach 10% of RZD’s park by 2010). As experience shows, operators are already ready to invest in traction rolling stock and think in the long term about creation of an alternative maintenance base.
By Nadezhda Vtorushina
Viewpoint
Alexander Gerasimov,
Deputy Chief of Locomotive Department, OOO BaltTransService:
– Today proprietors are constrained by an absence of guarantees for private locomotives to be allowed to work on common railways. No matter how actively OAO RZD stands up for the development of private operators and transportation companies, the conditions for development of commercial structures connected with repair and operation of locomotives are not stated legally. Also, non-discriminatory access to the infrastructure is not available to carriers.
Only today an order of actions for private locomotives to appear on OAO RZD’s railways is starting to be worked out - issues such as the purchase of a diesel locomotive, its registration with state bodies, obtaining the licence to run it on ways of common use, an operating procedure for private locomotive crews. Private locomotive crews are the basic means to achieve economic efficiency in transportation.
Transportation by the locomotive crews of OAO RZD does not give economic benefits, as the cost of their work is unfairly overestimated. Also there is no guarantee that, if there is a shortage of crews, private trains wouldn’t be the first for which services are suspended. As a result, companies are caught in several “traps” simultaneously. It raises uncertainty about tomorrow and, hence, unwillingness to invest in development of an infrastructure.
Valery Shpakov,
Director General, OAO Novaya Perevozochnaya Kompaniya:
– Currently, the private locomotive park is not large but one cannot accuse operators of a lack of inertia. The matter is that while the normative base is not completely developed, the future of private traction remains questionable. At the same time I am sure that the private operators’ locomotive park will certainly grow. Regarding the prospects for investment in locomotive maintenance depots, private parks are still small so construction of private depots is not economically justified. It is not excluded though, that in future private operators will express an interest in this business. Sooner or later there will come such a moment when it will be favourable for operators to have their own locomotive maintenance depots. At the same time it is wise to remember that running such depots is a complex business, both expensive and rather labour-intensive, from a technological point of view.
Igor Petrov,
Deputy Technical Policy Director, OOO Transoil:
– Using private locomotives allows us to provide delivery of cargo in the shortest time and thus to reduce the turnover of wagons considerably. Today the maximum distance over which a company transports cargo using its own locomotives is about 800 km.
As for development of locomotive maintenance bases, it certainly would stimulate competition in the rolling stock repairs market, improve the quality of locomotive maintenance, and reduce the number of unscheduled repairs. Then, the proprietor will choose which place to send a locomotive to for repair, depending on prices offered, quality, etc. First of all, these workshops should be near to places of loading/unloading or changing of locomotives in order to minimise a proprietor’s expenses to run his engine to the place. For example, now the situation is that the TCh-9 depot of Oktyabrskaya Railway (to which our diesel locomotives are assigned) is in Saint Petersburg, and formation of freight traffic is taking place at the station of Kirishi. As a result, the cost of the locomotive’s run to the workshop amounts to about a third of the bill for the maintenance service received there.
We cannot say that we are happy with the quality of repairs made by OAO RZD’s enterprises. What is to be done to improve this situation? Probably, first of all, we are to think about a more effective mechanism to make repair workshops responsible for the quality of their work. For example, instructions state that up to 50,000 km of quality running is guaranteed by a depot after a TR3 repair there (assuming the between-repairs run of the locomotive was 400,000 km). But between planned technical inspection TO3, the guarantee exists only up to the first TO2, which is only 72 hours. In fact, within this time a diesel locomotive can do no more than 1,000 km, with the between-repairs period is 15,000 km. What quality and what responsibility of the repair shop is there to speak of with such a system? The most comprehensive principle for the proprietor of a rolling stock is, in our opinion, one where repair shops take responsibility for after-service technological malfunctions in the course of the whole between-repairs period.
There is little doubt that, for the creation of a competition in the transportation market, the quantity of operators that own traction rolling stock should grow. One can feel a lack of locomotives for the growing volumes of transportation already. And moreover, today there is nowhere to buy them. Considering that 99.9% of the planned locomotive park production is intended or already bought by OAO RZD to renew its own inventory park, the proprietor can obtain locomotives only in the second-hand market. Therefore, the quality of this traction rolling stock will obviously be lower than that of OAO RZD and, consequently, more investment in its maintenance will be again necessary later to keep it in proper working order.
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