Russian Railways not expecting increase in freight loading this year - CEO

MOSCOW. Oct 18 (Interfax) - Russian Railways (RZD) does not currently expect freight loading to increase in 2024, CEO Oleg Belozerov told Interfax on the sidelines of the BRICS business forum on Friday.

"It will not increase compared to 2023. At this point, [we expect] it won't increase. We'll see," Belozerov said when asked whether freight loading on the RZD network would grow this year compared to last year.

The holding has recorded a monthly decline in freight loading since the beginning of the year.

As reported, Russian Railways cut freight loading 6.3% year-on-year in September, 6% year-on-year in August, 5.6% year-on-year in July, 3% year-on-year in June, 2.1% year-on-year in May, 3.6% year-on-year in April, 3.5% year-on-year in March, 1.4% year-on-year in February, and 4.3% year-on-year in January.

Russian Railways trimmed freight loading 0.2% year-on-year in 2023.