| Market Research A to Z | Company Profiles A to Z | Register | Contact Us |
| +44 (0) 203 086 8600 Call us on |
Romania Freight Transport Report Q2 2010
Market |
Logistics |
Report Type |
Market Research |
Country |
Romania |
Published |
12 March 2010 |
Number of Pages |
66 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
In January 2010, transport minister Radu Berceanu said that his government would make a new attempt to privatise CFR Marfa, the freight rail company, following a failed divestment in 2007. As part of the process of preparing for privatisation, the company would cut costs by an estimated RON217mn (US$77mn) in 2010, to be achieved through a combination of measures including lay-offs, a wage and bonus freeze, and a decision not to outsource its railway repair works. Earlier, the rail company’s general manager, Mihai Frasinoi, told the press that he was looking to lay off as many as 6,380 employees beginning from March 2010. ‘I would like to complete the privatisation this year,’ the minister said, adding that he believed that OEBB of Austria and Deutsche Bahn of Germany were potentially interested in acquiring CFR Marfa. Shortly after the minister’s comments, however, OEBB issued a statement saying it was not interested in taking over CFR Marfa or in entering the Romanian passenger rail market. We now estimate Romania’s 2009 recession was worse than we originally thought, with GDP dropping by 7.0% (vs. A fall of 5.7%). On the plus side, we also see a stronger bounce-back, with 2010 growth projected at 2.0% (was 0.3%). We have trimmed the 2011 forecast to 2.6% (was 2.7%). As a result, average annual economic growth over the next five years will be 3.4%, compared to 3.7% in 2005-2009.
The overall effect on our freight traffic forecasts when comparing the two five-year periods is therefore marginally negative. We maintain earlier adjustments to our mode-specific freight carried forecasts. As a result, we are now predicting average annual growth in freight carried across all modes, measured in mntkm, of 4.7% in 2010-2014 – which is over a percentage point ahead of GDP growth. All transport modes were affected by the recession. Rail freight traffic fell, but when the recovery takes hold, competition begins to increase and investments take effect, growth will resume. For the 2010-2014 forecast period, the annual rate of growth in rail freight traffic will be 2.7%, slower than overall economic growth. Freight traffic by road will fare better, with investment in new highways acting as a positive.
However, the financial downturn caused a severe liquidity crisis for Romanian road haulage firms. We are forecasting annual average growth of 5.5% in 2010-2014 for road haulage, which is significantly above the average annual rate of GDP expansion. Inland waterway traffic will rise by an annual average of 4.1%. Maritime freight will grow by an annual average of 2.5%, with recovery from the slump of 2009 taking some time to come through. Airfreight will see growth of 4.5%, as the sector emerges from the shakeout of low-cost airlines across Europe.
Last Viewed
Romania Freight Transport Report Q2 2010Pirelli 2009 company profile edition 3
Iraq Defence and Security Report Q4 2009
Bread - A Global Strategic Business Report
Company Financials Oracle Corporation
Become an Affiliate
Do you manage an industry specific website or blog? Are you looking to monetise your web traffic further? Are you a B2B website?
Why not offer your visitors industry specific strategic market reports and company profiles? Our Affiliate Program enables you to provide quality content on your website and to earn money from passing on visitors to our website. If a sale is made from your visitor, you earn commission (a fixed percentage of the price of a product).
Custom Research
Cannot find what you need? We can tailor a report for you. Complete the Custom Research Form and we will provide a quote.
