11/05/2009

Latvijas Dzelzcels (LDz, "Latvian Railway") affiliated company LDz Cargo, which is engaged in cargo transport expects to move 2-3 % less cargo in 2009 than in 2008, the Chairman of the LDz Board, Ugis Magonis, told BNS.

A reduction in cargo of only 2-3 %, in comparison to the previous year, would be a very good figure, because LDz Cargo moved a record-breaking figure in 2008.

"If we manage to keep to a 2-3 % reduction, it will be excellent," said U.Magonis, having noted that railway companies across Europe have suffered a sharp recession in cargo figures; 20-50% down on last year.

In the first quarter of 2009 LDz Cargo moved 14.214 million tons of cargo: 1.1 % less than the same period of 2008, and the 2008 figure of 56.061 million tons was 7.5% more than 2007s.