The opening of the railway freight market in Europe, the change in the market structure in terms of activity dynamics and the average growth of global economy have triggered the development of the rolling stock leasing market. Under the circumstances, in order to provide services as efficient and competitive as possible, leasing companies begin to develop products in collaboration with other companies, both for their delivery and for the modernisation of their own rolling stock fleet in order to be able to meet the customers demands.
Statistics show that, globally, the transport volume is increasing and considering the present environment which faces globalisation and free market access, the activity of specialized companies has to reach high standards so as to meet the customers’ demands. This is a positive trend for the railway sector.
The transport liberalisation within the EU and the accession of more and more private companies require an optimised cost-benefit report providing competitiveness a new stimulus, a new advantage of the railway market.
Therefore, the share of leased freight wagons continues to increase among national railway companies, while private operators use rolling stock leasing due to its benefits in economic and financial profitability, optimised flexibility (the cars can be returned) and no additional capital requirements. For the freight car leasing companies, 2010 was a year of activity development and income increase, while competitiveness in this sector meant focusing on improving services. More and more freight car leasing companies enhance their rolling stock offer and implicitly their business activity by developing customer-tailored offers and contributing to the establishment of a competitive environment.
GATX announced signing a contract with Trinity Rail Group for delivery of 12,500 mixed and tank wagons to be delivered in the next five years. “The agreement aims at a continuous production level for the next 5-year period. The development of the rolling stock leasing segment will determine a significant capacity growth”, declared Stephen Menzies, manager Trinity Rail. The development of the leasing companies’ rolling stock fleets will generate the implementation of new strategies to face the challenges imposed by the business environment. “This order for 12,500 cars will help improve the delivery schedule of cars. The car purchase acquisition and prioritization of projects for delivery of new cars improve the capacity of answering the customer’s demands and of keeping the pace with the market rhythm”, said Brian A. Kenney CEO at GATX Corporation.
According to the VTG leasing company, 2011 will be a year of development for this particular business sector and the outcome will be positive. For the company, the economic recovery will generate market growth tendencies. Moreover, rolling stock acquisition and an improved use of capacity will help increase the income level. This generates the extension of contracts with important customers. In 2010, VTG reinforced its market position by purchasing 700 cars from Rexwal Group and 1,100 cars for cereal transport and in 2011, the leasing company announced the successful delivery of the first lot of tank wagons for transport of compressed gas to its customer Evonik. These wagons are manufactured by VTG and Graaff. “By developing the Volume 12 wagons, we have managed to deliver added value products. We want to expand our business to meet the demands of each and every customer, and for that we need to modernise the entire rolling stock fleet”, declared VTG’s CEO, Heiko Fischer.
by Pamela Luică
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