Freight One exits the oil tank cars segment
Freight One signed a preliminary agreement with Brunswick Rail provided for the sale of 12.8 oil tank cars. The transfer of the rolling stock will be carried out until 31 March 2020. Value of the transaction is undisclosed.
“We do not consider transportation of oil cargo as a target segment for Freight One considering the prospects of pipeline transport’s development. The exit from the oil tank cars segment will allow the company to focus on strengthening its positions in those market niches where it has competitive advantage and room for growth. At the same time we are determined to fulfill all of our obligations according to previously signed contracts on oil and oil products transportation before the expiry of these contracts terms by leasing out the necessary volume of oil tank cars” – said Sergey Karataev, CEO of Freight One.