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Russia Freight Loading Fell 3% in Jan-May Despite Oil Loading Rise

OIL PRODUCTS

Freight loadings on Russia's rail system fell 3% y/y in January-May 2024 to 502m tonnes despite an increase in oil and coal loadings, according to Kommersant.

  • May was however down just 2.2% y/y to 104.4m tonnes, the rail operator said, compared to an average monthly drop of 3–4% in the first months of the year.
  • Oil products shipments to the east rose 7% in March with increased priority on the rail system but movements fell again in April. Oil and petroleum products loaded in January-May fell 1.6% y/y to 87.9m tonnes.
  • Coal loadings were down 5.3% for the first five months, to 141.3m tonnes but are increasing as movement through the port to Taman resumed. Fertiliser, grain and industrial raw materials loading rose by 10.7%, 6.9% and 20.6% respectively.
  • The loading of oil and petroleum products has increased, primarily due to the restoration of petroleum products output at refineries said head of Infoline-Analytics, Mikhail Burmistrov.
  • It will most likely not be possible to reduce the backlog in loadings due to the start of the construction season on the railway, he added.
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