Ppen-top railcar lease rates soften

摘要

Russian spot lease rates for open-top railcars fell slightly in May, reflecting limited demand for coal deliveries at a time of low prices. But operators are not keen to provide large discounts, citing the high cost of purchasing railcars. Some market participants expect lease rates to fall further by the end of this year. The average open-top railcar lease rate in short-term agreements for coal transportation in Russia has fallen by Rbs25/d from April to Rbs2,000-2,200/d, excluding value- added tax (VAT), market participants say. Long-term rates are unchanged in May, at Rbs1,800-1,900/d, excluding VAT.