Cargo, Latvia, Railways, Transport

He explained that this year the company is counting on the decline in the volume of freight transported, and accordingly the focus of LDz is on reducing costs, as well as identifying possible new markets and attracting customers.

"This year we plan to transport about 25 mln tons of cargo, which is about half of what we transported last year. In the coming years we plan a slight increase. But it will most likely be a really small increase, because to replace the cargo volumes from Russia that we have lost, I do not see such opportunities ," said Kleinbergs.

Kleinbergs added that the main reason for the decrease in cargo is the diversion of Russian cargo to its own ports, as these Russian cargoes accounted for about 70% of the total cargo volume in previous years. Currently, the decline is mainly due to shipments of oil, oil products and coal.

He explained that both the new business model of LDz and the emerging medium-term strategy envisage attracting new cargoes and expanding the existing services provided by the group, but there is no reason to hope that LDz will be able to compensate for the intensive freight flow received from Russia in previous years.