IRJ - February 2011 - (Page 16)
Hyundai Rotem nets major export deals T
URKISH State Railways (TCDD) has signed a $US 400 million contract with Hyundai Rotem to supply 80 5MW electric locomotives over the next three years. Eight of the locomotives will be manufactured by Hyundai Rotem in Korea, with the remainder at the company’s plant in Tulomsas, Turkey. The company says this is the first time it has exported its electric locomotive technology, with the units set to be delivered by the end of 2014 along with a driving simulator. Bombardier, AnsaldoBreda, and Chinese manufacturers were also reported to have bid for the contract. Hyundai Rotem has a strong presence in Turkey having already supplied 800 heavy and light rail vehicles, while it hopes to supply high-speed trains in the future.
Meanwhile, the Korean manufacturer has won a contract with Ukranian State Railways to supply 10 nine-coach 160km/h intercity emus in a $US 296 million deal, most of which will be financed through a loan from Korea Eximbank. The trains will be delivered in mid-2012 in time for the European Football Championships that Ukraine is jointly hosting with Poland.
Strong results for Eurostar and Eurotunnel
UROSTAR’s sales revenues rose 12% in 2010 from £675.5 million to £760 million, a feat that chief executive Mr Nicolas Petrovic hailed as reflecting a “real renaissance in rail travel.” Passenger numbers grew by 3% to 9.5 million, buoyed by a recovery in business travel and the volcanic ash cloud crisis which grounded European flights during April. Eurostar says it has also seen an increase in the number of passengers travelling beyond Paris and Brussels to destinations in the Netherlands, Germany, and southern France. “We are starting to see a real shift in behaviour as customers are increasingly keen to explore new destinations by high-speed rail,” says Petrovic. “This is an exciting time for passengers and our industry. With the expansion of new routes and services we are witnessing a renaissance in rail travel.” Meanwhile, Channel Tunnel operator Eurotunnel has reported similarly impressive results in 2010. The company says its revenues increased by 26% to É736.6 million as its shuttle service returned to record levels and the company completed several important acquisitions. These include the French operations of Veolia Cargo and GB Railfreight, all now part of railfreight subsidiary Europorte, which contributed 9% to revenue growth.
RZD returns to growth and profit
USSIAN Railways (RZD) president Mr Vladimir Yakunin has announced a profound turnaround in RZD’s performance. Freight traffic grew by 8.7% compared with a 15% drop in 2009, while freight revenue rose 13% to Roubles 1.08 trillion ($US 34.7 billion). As a result, RZD expects to make a net profit of Roubles 70 billion in 2010. For the first time, RZD’s board meeting was attended by representatives from other railways. Mr Rudiger Grube, CEO of German Rail (DB), said: “Across a series of indicators the company [RZD] has returned to its pre-crisis level. A great future awaits both our companies.” “Thanks to systemic work to overcome the crisis and grow profit, the investment budget of Russian Railways this year has risen to Roubles 315 billion,” Yakunin added.
Mr Jens Chlebowski and Mr Jörn Sens of Siemens and Dr Walter Breinl and Mr Thorsten Lehnert of Railpool celebrate the deal.
Railpool purchases 42 locomotives
ERMAN leasing company, Railpool, is the first company to purchase Siemens’ new Vectron locomotive which was launched at InnoTrans last year. Railpool has ordered six of the four-axle 6.4MW ac electric locomotives for an undisclosed sum. The 200km/h units each weigh 87 tonnes and will be used to haul passenger and freight trains in Germany and Austria, with delivery set to commence in mid-2012. Railpool has also awarded a
É120 million contract to Bombardier for 36 Traxx electric locomotives. Delivery will start in July 2011 and should be completed by November 2013. Railpool, a joint venture of two German banks, HSH Nordbank and KfW Ipex-Bank, says that traffic growth is increasing demand for its locomotives, which now total 100 electric units. German railfreight was up 16.7% by the third quarter of 2010 compared with the same period in 2009.
US aims to match China with financing policy G
ENERAL ELECTRIC’s proposed sale of 150 diesel-electric locomotives to Pakistan is likely to be the beneficiary of a new policy to help US exporters compete with Chinese rivals. The government-backed US Export-Import Bank (Ex-Im) has agreed to finance $US 437 million of the proposed $US 477 million deal which was recently approved despite an appeal in a Pakistani court that questioned the decision to choose a US manufacturer and whether the tender was open to international competition. “We’d rather that you play by the rules, but if you’re not going to play by the rules, then we’ll meet you,” Mr Fred Hochberg, chairman and president of Ex-Im, told The Financial Times. The policy is contrary to international rules established by the Paris-based Organisation for Economic Cooperation and Development, which limit the term of export credits to 10 years. China is not a signatory to the agreement, and its Ex-Im Bank offered to finance the locomotives to Pakistan over 12 years at a rate of 8%, which US Ex-Im Bank has agreed to match.
The new policy reflects president Barack Obama’s efforts to help exporters that are increasingly undermined by their Chinese rivals spur US economic recovery. “Ex-Im Bank’s financing creates a level playing field for US companies to compete and, ultimately, lays the foundation to sustain existing and create new high-tech US manufacturing,” GE says.
IRJ February 2011
Table of Contents for the Digital Edition of IRJ - February 2011
IRJ - February 2011
Critical Decision Looms for US Frontrunner
Brazil Moves Mountains for High-Speed
The HS Story Still Has a Long Way to Run
Ticket to a Seamless Ride
Wheelset Measurement: The Bigger Picture
Transnet Plans Ahead
Full Contact List
The Last Word
IRJ - February 2011