Page 115 - RusRPTMay20

April, 50% lower y/y. We forecast that it will touch RUB600-700/day in 2020,” VTB Capital (VTBC) said in a note.
Sheremetyevo International Airport ​handled more than 73 thousand tons of cargo and 11.5 thousand tons of mail in the first quarter of 2020​, an increase of by 9.3% for goods and 6% for mail over the same period in 2019. The combined average growth for mail and cargo was 8.8%. Sheremetyevo LLC Moscow ​Cargo,​ the airport’s main cargo operator, handled about 75% of the airport’s total cargo traffic, some 63.5 thousand tons of cargo and mail, a 12% increase compared to the same period in 2019. The increase in volume at Sheremetyevo is due primarily to an increase of 11.6% in cargo turnover on domestic airlines compared to 2019. Transportation on domestic airlines increased by 2.6%. The largest growth in international flights in the first quarter of 2020 was in export cargo transported via Sheremetyevo, which increased by 37.9% in volume compared to the same period in 2019. The flow of imported cargo on international flights also increased noticeably, by about 12.5%. The volume of the international airline transfers increased by 4.5%. Inbound cargo traffic on domestic flights, decreased by 19%, while outbound cargo traffic increased by about 9.3%. The volume of transfer cargo on domestic flights increased by 2.6% compared to last year. The increased cargo volume in the first quarter of 2020 was caused by growth in traffic on flights of Sheremetyevo’s strategic partner, Aeroflot Group, which is serviced at the Moscow Cargo terminal. Cargo traffic by Aeroflot and Russia Airline in the first quarter increased by 11.6%. The main external destinations, which accounted for about half of the total cargo flow, are Germany, China, Korea, the USA and Netherlands, followed by Japan, Israel and Singapore. As to the domestic routes, The main cargo flow for domestic cargo traditionally is to the Far East (Vladivostok, Khabarovsk, Yuzhno-Sakhalinsk and Petropavlovsk-Kamchatsky). The largest volume of cargo for export and transit in the first quarter was to airports in Frankfurt (FRA), Shanghai (PVG), Amsterdam (AMS), Vladivostok (VVO), and Chicago (ORD). The largest volume of cargo traffic on import and transit in the first quarter was from airports Frankfurt (FRA), Hong Kong (HKG), Shanghai (PVG), Amsterdam (AMS), Seoul (ICN).
The high-speed railway link between Moscow and St Petersburg large infrastructure project costing a total of RUB1.7 trillion ​is still on the table and had its financial and investment plan renewed despite the coronavirus (COVID-19) crisis, ​Kommersant d​ aily reported on April 21 citing unnamed sources.Asreportedby​bneIntelliNews,​ theRussiangovernmentcouldfocus on ​large investment mega-projects​ to revive the economy for a post-crisis bounce-back. Reportedly, the railway requires RUB750bn of state support (35% of total), out of which RUB200bn is capital infrastructure investment, RUB380bn loan from the National Welfare Fund, and RUB170bn subsidised loan from the state development bank VEB.RF. Previous reports by Kommersant​ in 2019 claimed that state investment in the project amounts to RUB600bn, while the railway is not expected to break-even until 2033. Russian Railways is expected to provide RUB192bn from its investment programme, RUB200bn to be injected by other shareholders. Reportedly a consortium German Initiative (Siemens, Deutsche Bahn, Deutsche Bank and others) was being courted to join the project. Sources told ​Kommersant ​that RUB436bn will be borrowed from Russian and international banks, and another RUB125bn covered by bonds. By 2030, the railway is expected to carry 23mn people, and 28mn people by 2040, with the construction planned until 2026.
115​ RUSSIA Country Report​ May 2020 ​ ​www.intellinews.com