Cargo Turnover Of The Georgia Railway Reduces Again

Cargo Turnover Of The Georgia Railway Reduces Again

Over the 8-month period of 2017, the Georgian Railway transported 6,988,580 tons of cargo, which is 919,000 tons less than within the same period last year.

In this amount, the share of local cargo was 1,252,229 tons and 696,127 tons was the export load. In the accounting period, the volume of imported cargo was 1,677,170 tons and transit was 3,363,054 tons.

During the first 8 months, the Georgian Railway transported 23,447 TEU container units, which is slightly more than within the same period of last year.

The dynamics of shipment of crude oil and oil products has also decreased and in 8 months made 2,927,467 tons instead of 3,583,158 tons of the last year.

The rate of cereal product transportation has also reduced and made 188,924 tons in the accounting period instead of 266,265 tons transported within the same period of last year.

The volume of transported raw sugar has also decreased to 257,710 tons. Within the first 8 months of the year, the Georgian Railway transported 224,776 tons of iron and manganese ore, which is 55 thousand tons less than last year.

348,518 tons of nonferrous metal ore was transported, which is slightly more than within the same period of last year.

It should be noted that the rating company S&P has lowered the rating of the Georgian Railway. The agency has verified the company’s foreign currency credit rating at B+ level with “negative” forecast.

The rating agency already reduced the Georgian Railway’s rating last year, but till now, the forecast was “stable”.

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