AD Ports Group has acquired a majority share in the Tbilisi Dry Port. The logistics company, headquartered in Abu Dhabi, purchased sixty per cent of shares. Construction on the dry port is still ongoing, but it is scheduled to enter into operation in late 2024. With the acquisition of a majority stake in the Tbilisi…
Category: Business
AD Ports Group acquires majority share in Tbilisi Dry Port
AD Ports Group has acquired a majority share in the Tbilisi Dry Port. The logistics company, headquartered in Abu Dhabi, purchased sixty per cent of shares. Construction on the dry port is still ongoing, but it is scheduled to enter into operation in late 2024. With the acquisition of a majority stake in the Tbilisi…
AD Ports Group acquires majority share in Tbilisi Dry Port
AD Ports Group has acquired a majority share in the Tbilisi Dry Port. The logistics company, headquartered in Abu Dhabi, purchased sixty per cent of shares. Construction on the dry port is still ongoing, but it is scheduled to enter into operation in late 2024. With the acquisition of a majority stake in the Tbilisi…
DB Cargo misses financial targets, volumes and performance drop
In a “negative as expected” year, Deutsche Bahn’s financial performance was again in the red. Losses were not avoided in 2023, and the Group’s freight subsidiary DB Cargo was no exception. The state-owned freight carrier did not meet the target of closing 2023 with a loss of 225 million euros. Instead, the company reported EBIT…
Rail freight across the Alps dropped, but not because of the Gotthard
Freight transport across the Alps in 2023 decreased both when it comes to road and rail, according to the Swiss Federal Office of Transport (FOT). Concerning rail freight, volumes dropped by 5.9 per cent compared to 2022. The FOT stated that the main cause is the general economic situation in Europe, and not the closure…
FESCO signs rail agreements with 5 Chinese logistics companies
Russian logistics company FESCO has signed agreements with five Chinese logistics companies. The agreements, by and large, concern rail freight. FESCO has entered into agreements with five Chinese logistics companies. The Russian company signed an agreement with Weisa International Logistics Group, in which the two companies agree to work together for rail freight optimisation on…
Port of Hamburg records downward performance in 2023, modest decline also for rail
Intermodal and rail transport in the Port of Hamburg has seen better years than in 2023. The German port’s financial and volume performance declined noticeably last year, and rail did not get away with it. Intermodal container transport recorded a 5.4 per cent volume decrease compared to 2022, while rail container transport declined by 3.1…
MSC plans to build 1,000 wagons in former Wärtsilä plant in Trieste
Shipping giant MSC is working on taking over the industrial area near the port of Trieste formerly occupied by Wärtsilä, a Finnish maritime equipment manufacturer. MSC is planning on reconverting the factory into a rail rolling stock production facility, intending to churn out 1,000 wagons per year. MSC recently held a meeting with various Italian…
Kazakh exporters worried as KTZ plans another fee hike
Kazakh Railways (KTZ) wants to raise its fees for rail freight. The rail operator and infrastructure manager points to its outstanding debt as the culprit for a potential price hike. KTZ earlier received criticism for frequently raising its fees. Kazakh exporters are worried about their competitiveness. KTZ applied to the Kazakh Ministry of National Economy…
DB Cargo to be divided into six units?
The German state-owned rail freight operator is facing an uncertain future due to significant losses and proceedings from the European Commission (EC). In an attempt to become profitable, DB Cargo might be divided into six divisions dedicated to different types of transport. The initiative was shared by German media RedaktionsNetzwerk Deutschland (RND), which cites a…