THE Freight Rail division of Transnet, South Africa, reported an 8.6% increase in revenue to Rand 22.6bn ($US 3.2bn) for the financial year which ended on March 31. This is despite relatively modest increases in freight traffic and a series of set-backs during the year. These included a three-week strike in 2010, delayed maintenance, inclement weather, derailments, vandalism, and theft of cables.
THE Freight Rail division of Transnet, South Africa, reported an 8.6% increase in revenue to Rand 22.6bn ($US 3.2bn) for the financial year which ended on March 31. This is despite relatively modest increases in freight traffic and a series of set-backs during the year. These included a three-week strike in 2010, delayed maintenance, inclement weather, derailments, vandalism, and theft of cables.
General freight volumes increased by 2.2% to 73.7 million tonnes. Export iron-ore did a little better with a 3.4% increase to 46.2 million tonnes, but this is a far cry from the 60 million-tonne capacity of the exporting facility at Saldanha Bay. Export coal traffic increased by a mere 0.6% to 62.2 million tonnes. Again, the Richards Bay coal terminal is not achieving its potential 90 million-tonne capacity.
Poor punctuality was a major concern within Transnet Freight, and punctuality targets were not achieved. The performance of the Freight Rail division, which accounts for some 59% of Transnet's total revenue, was described by group CEO Mr Brian Molefe as "dismal".