Unpredictable global events to pose greatest challenges in freight transportation in 2023 - LDz

RIGA - In the freight transportation sector, unpredictable global events and their impact on the sector are likely to pose the greatest challenges next year, Maris Kleinbergs, board chairman of Latvijas Dzelzcels (LDz) national rail company, told LETA. 

"Consequently, LDz's performance results will largely depend on various external factors including further international sanctions against Russia, fluctuations of energy prices and other global developments," Kleinbergs said. 

In his words, LDz next year will continue to develop new services and more client-friendly freight transportation offers, seeking various options for attracting more rail freight in both existing and new markets. 

The company's main priority and basic task is maintaining and developing safe and high-quality railway infrastructure, because regardless of geopolitical circumstances and the economic situation, Latvia and its residents will need a modern railway that would meet European standards, Kleinbergs said, adding that in the years to come the transport sector will have to keep promoting passenger and freight mobility in all Latvia, with railway as the central element of the system.

"In the development of Latvia's railway, next year will be a year of positive change - a number of important LDz projects will be completed, including the modernization of passenger platforms, increasing train speed and others. The first new Pasazieru Vilciens electric trains are scheduled to start running as well. These projects will be followed by others in the coming years," the LDz board chairman said, adding that all these measures are also expected to promote the popularity of railway as a means of transport. 

As reported, turnover of Latvijas Dzelzcels railway group was EUR 249.177 million last year, down 1.9 percent from 2020, while profit reached EUR 3.909 million in contrast to a loss the previous year, according to the information published by the company.

Latvijas Dzelzcels is a state-owned railway company. Latvijas Dzelzcels group comprises the parent company, Latvijas Dzelcels, and six subsidiaries: LatRailNet, LDz Cargo, LDz Infrastruktura, LDz Ritosa Sastava Serviss, LDz Apsardze, and LDz Logistika.