PJSC TransContainer and Rail Cargo Austria AG signed Memorandum of Understanding
VIENNA, Austria – PJSC TransContainer and Rail Cargo Austria AG signed Memorandum of Understanding in the framework of the forum “Strategic Partnership 1520: Central Europe” today.
According to the Memorandum the Parties will evaluate the possibility of establishment of a Joint Venture registered in Austria. This Joint Venture will provide operational support to door‑to‑door service on the route China – Europe – China and perform marketing activity.
The strategic goal of the cooperation is to link international Transportation equipment for shipping cargo via various means of transport. Containers are durable enough for repeated use and can be stacked. Containers are divided into medium-duty (three- and five-tonne), which conform to former Soviet Union standards and are still used for shipments in Russia and the CIS, and ISO (20- and 40-foot) containers, which are used for Russian and international shipments. The universal standard unit TEU (twenty-foot equivalent unit) was introduced to measure transport flow volumes.
container flows into European and Russian rail network. It is intended to establish high frequency, long haul rail and intermodal connections between economic territories in Central and Southern Europe and Russia/Central and Eastern Asia.
“Freight passing from one country to another through a third country. Whether cargo is permitted to transit a certain country and under what terms is subject to trade agreements and treaties between countries. Direct transit is when foreign goods are shipped under tariff protection, without holding at a customs warehouse; indirect transit is when goods arrive at customs warehouses and are then transported abroad.
Transit transportation between China and Europe is the most rapidly growing segment of container market. We expect the incorporation of PJSC TransContainer’s competences and technologies within 1520 gauge area and Rail Cargo Austria AG’s possibilities within European railways, in particular in Central and South-East Europe, to give a boost to development of railway transit on the route China – Europe – China and to offer our clients reliable and competitive transport solution”, Petr Baskakov, PJSC TransContainer CEO, stressed.
Member of the Board Thomas Kargl on behalf of Rail Cargo Austria AG and CEO Petr Baskakov on behalf of PJSC TransContainer signed the Memorandum.
2016 Annual Report
PDF-version of our latest Annual Report