Rail First Asset Management, an Australian rolling stock provider, has invested AUD 100 million (USD 63 million) to acquire 12 new energy-efficient freight locomotives for its customer base.
“The acquisition of 12 new state-of-the-art UGL CF44 locomotives will further enhance the status of Rail First as Australia’s leading provider of rolling stock solutions to Australia’s rail freight sector,” company’s CEO, Beata Lipman said, adding that the company is the only domestic manufacturer of rail container freight wagons which also maintains and overhauls its fleet of locomotives in Australia.
Under a lease agreement Melbourne-based SCT Logistics, the country’s largest private freight operator, has taken delivery of six of the new CF44 locomotives.
The new Australian-made UGL CF44 freight locomotives have one of the most fuel-efficient engines in the market, with each locomotive capable of hauling a rake of wagons 1,800-metres in length – equivalent to removing approximately 160 large trucks from the road.
“The locomotives will be used to help increase rail freight capacity between the east and west coasts and grow interstate volumes on north-to-south rail lines between Melbourne, Wodonga and Brisbane. To help meet the country’s goal of net zero emissions by 2050, and our own decarbonisation objectives which includes transitioning freight from road to rail, SCT Logistics is looking to an expanded fleet of new energy-efficient locomotives,” the Managing Director of SCT Logistics, Geoff Smith, said.
Australia needs to develop and enhance sustainability and resilience of its freight transport as it has faced massive challenges across domestic supply chains and the rolling stock provider is “proud to be playing a pivotal role in helping the rail freight sector operate safely and efficiently in a cost-effective and sustainable manner,” Beata Lipman said.
Safe, efficient and reliable national and state supply chains bring down the overall cost of transport of goods and commodities to both domestic and global markets. The result is greater revenue for Australian importers and exporters, reduced cost pressures on retail businesses, and savings for consumers at the end of complex supply chains.
Rail First is Australia’s largest lessor of rail freight rolling stock owning AUD 500 million (USD 314.5 million) in assets including a fleet comprising 80 locomotives and 1,400 wagons.
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