Ukrainian Railways transported 3.6 million tons of iron ore in July

In July 2024, Ukrainian Railways JSC (UZ) increased the transportation of iron and manganese ore by 65% compared to July 2023, up to 3.6 million tons. This is stated in the press release of the railway operator.

In July, UZ transported a total of 13.6 million tons of cargo, up 12% compared to the same period in 2023. Grain transportation decreased by 19% y/y.

In domestic traffic, the company transported 6.4 million tons of cargo (-22% yo/y), 6.4 million tons (+93% yo/y) for export and 746 thousand tons (+39% y/y) for import.

“In July, Ukrainian Railways will post a negative financial result for the first time since the beginning of the year, despite the improvement in operational efficiency compared to last year,” the railroad operator said.

A 40% increase in energy costs was offset by savings in other operating expenses, but rising exchange rate costs and a deteriorating cargo transportation structure led to a negative financial result, UZ adds.

In June 2024, UZ reduced export transportation of iron and manganese ore by 2.2% compared to the previous month – to 2.64 million tons. Compared to June 2023, the figure increased by 85.1%. In total, in June 2024, Ukrainian Railways transported 14.69 million tons of cargo, down 6.3% m/m, but up 17.8% y/y.

As GMK Center reported earlier, in 2023, UZ transported 148.4 million tons of cargo, down 1.5%, or 2.2 million tons, compared to 2022. The transportation of iron ore decreased by 13.2% y/y – to 27.5 million tons, ferrous metals – by 10.6% y/y, to 8.2 million tons, and grain – by 5.9% y/y, to 30.6 million tons.