The Chinese Railway Ministry, the Russian Railway RZD and Deutsche Bahn (DB) have signed a letter of intent regarding the expansion of rail freight traffic between China and Europe.
DB chairman & CEO Hartmut Mehdorn said that the aim is to shift the growing volumes of freight traffic between China and Europe onto rail. “In view of the high quality and short transport time of just twelve days, goods can be carried by rail in a much shorter time than by ship. The next stage is now the development of suitable products for the market.”
The preparations are already under way, and Mehdorn said that, within just a few years, trains would run directly from Beijing to Berlin.
In Peking, DB also confirmed its intention of participating in an international consortium aimed at promoting the combined transport sector in China.
Transport volume is expected to increase at least five-fold, to around ten million TEU by the year 2011. To cope with that growth, €1.2 billion will be invested in the construction of eighteen combined transport terminals over the next five years.
Norbert Bensel, Member of the DB Management Board for transportation & logistics, pointed out the this is an opportunity for DB to gain a foothold in the Chinese rail freight market, making it the first foreign rail undertaking to do so.
DB will hold 8% of the shares in the new company. In addition to DB and CRCTC, a subsidiary of the Chinese Railway Ministry which will hold 34%, other members of the consortium will include the financial investor New World from Hong Kong (22%), CIMC, the leading international company for container equipment (10%), the Chinese financial investor Hancai (10%), the French shipping company CMA/CGM (8%) and the Israeli company ZIM (8%).
DB chairman & CEO Hartmut Mehdorn said that the aim is to shift the growing volumes of freight traffic between China and Europe onto rail. “In view of the high quality and short transport time of just twelve days, goods can be carried by rail in a much shorter time than by ship. The next stage is now the development of suitable products for the market.”
The preparations are already under way, and Mehdorn said that, within just a few years, trains would run directly from Beijing to Berlin.
In Peking, DB also confirmed its intention of participating in an international consortium aimed at promoting the combined transport sector in China.
Transport volume is expected to increase at least five-fold, to around ten million TEU by the year 2011. To cope with that growth, €1.2 billion will be invested in the construction of eighteen combined transport terminals over the next five years.
Norbert Bensel, Member of the DB Management Board for transportation & logistics, pointed out the this is an opportunity for DB to gain a foothold in the Chinese rail freight market, making it the first foreign rail undertaking to do so.
DB will hold 8% of the shares in the new company. In addition to DB and CRCTC, a subsidiary of the Chinese Railway Ministry which will hold 34%, other members of the consortium will include the financial investor New World from Hong Kong (22%), CIMC, the leading international company for container equipment (10%), the Chinese financial investor Hancai (10%), the French shipping company CMA/CGM (8%) and the Israeli company ZIM (8%).