07.08.2024, 08:58
Russia's largest railway operator will change its owner
Source: OREANDA-NEWS
OREANDA-NEWS The First Freight Company (PGK) may change ownership. RBC reports on the possible transition of Russia's largest railway operator under the control of VTB Bank, citing sources.
In the near future, the company is expected to reshuffle its top management. After that, VTB structures can get control over it. As previously reported by Reuters, it was with the funds provided by the bank that the company was acquired in November 2023.
VTB Leasing, a subsidiary of VTB Leasing Bank, is engaged in the development of the transport segment. It is the largest lessor with a rental fleet of freight wagons in the amount of 12.7 thousand units. Among them are gondola cars for the transportation of bulk cargo, fitting platforms, tanks and covered wagons.
According to Alexander Slobodyanik, head of analytical projects at Rollingstock Agency, taking into account the freight and customer base of PGK, VTB will strengthen its own leasing fleet and will be able to lease it to other operators. The deal on the transfer of PGK to VTB Bank could be "combined", and the bank was offered a discount to repay the loans, the expert suggested.
Since the beginning of 2024, the rail transportation of containers from China to Moscow has risen in price by more than 50 percent. According to the Center for Price Indices (CCI), in July, the transportation of a 40-foot container from Xi'an to Moscow reached more than seven thousand dollars. The rate on the rail shipment of containers from the Far East has also increased. Now you will have to pay up to 295 thousand rubles for transporting a 40-foot container. It is assumed that prices will continue to rise.
In the near future, the company is expected to reshuffle its top management. After that, VTB structures can get control over it. As previously reported by Reuters, it was with the funds provided by the bank that the company was acquired in November 2023.
VTB Leasing, a subsidiary of VTB Leasing Bank, is engaged in the development of the transport segment. It is the largest lessor with a rental fleet of freight wagons in the amount of 12.7 thousand units. Among them are gondola cars for the transportation of bulk cargo, fitting platforms, tanks and covered wagons.
According to Alexander Slobodyanik, head of analytical projects at Rollingstock Agency, taking into account the freight and customer base of PGK, VTB will strengthen its own leasing fleet and will be able to lease it to other operators. The deal on the transfer of PGK to VTB Bank could be "combined", and the bank was offered a discount to repay the loans, the expert suggested.
Since the beginning of 2024, the rail transportation of containers from China to Moscow has risen in price by more than 50 percent. According to the Center for Price Indices (CCI), in July, the transportation of a 40-foot container from Xi'an to Moscow reached more than seven thousand dollars. The rate on the rail shipment of containers from the Far East has also increased. Now you will have to pay up to 295 thousand rubles for transporting a 40-foot container. It is assumed that prices will continue to rise.
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