Table of contents
Topic of the week:
The UK rail freight industry is on the cusp of a significant transformation with the introduction of the new Class 99 locomotives, designed to reduce emissions by up to 58% per journey compared to traditional diesel locomotives. The first order of 30 Class 99s, commissioned by Beacon Rail and GB Railfreight, marks a major milestone in the industry's transition towards a more sustainable and efficient rail network.
The Class 99, manufactured by Stadler in Valencia, Spain, is a hybrid locomotive capable of operating on both electrified and non-electrified sections of the rail network. With a top speed of 74mph (120km/h), it can reach speeds previously unattainable for freight trains. The locomotives are equipped with the latest safety features, including ETCS, AWS, and TPWS, ensuring a safe and reliable service.
The introduction of the Class 99 is a game-changer for UK rail freight, offering customers faster, more sustainable, and heavy-haul services across the country. According to John Smith, CEO of GB Railfreight, "The Class 99 is a game-changer for UK rail freight. It offers our customers faster, more sustainable, and heavy-haul services across the country."
The Class 99 order is a significant vote of confidence in the UK's rail freight industry, with Beacon Rail CEO Adam Cunliffe stating, "Beacon is proud to introduce the Class 99 to the market; this is the result of a collaborative approach with our long-standing customer GB Railfreight and manufacturer Stadler. The Class 99 order underlines Beacon's drive to support the UK's journey towards a greener and more efficient rail network."
The Class 99 is expected to enter service in the UK in Spring 2025, with the full fleet anticipated to be operational by the end of 2026. As the rail freight industry continues to evolve, the introduction of the Class 99 is a significant step towards a more sustainable and efficient future.
Sea:
- Over the last two weeks China/East Asia to North America West Coast spot rates have increased by 0.5% from $6,836/FEU to $6,874/FEU according to Freightos data.
- China/East Asia to North America East Coast spot rates have fallen over the last two weeks, decreasing by 1.9% to $8,951/FEU.
- Global container spot prices have fallen over the last two weeks, and are now sitting at $4,701/FEU, a 6.8% decrease over the last two weeks and a 299% increase from spot rates this time in 2023 according to the Freightos Baltic Index (FBX)
Air:
- Global Air Freight spot rates currently sit at $2.32, as rates continue to fluctuate according to the Freightos Air Freight Index (FAX)
- Europe to Northern America spot rates currently sit at $1.72 (100-3000kg), says FAX, increasing by 3.6%
- Europe to Asia, Greater China spot rates currently sit at $1.23(100-3000kg), says FAX, increasing by 0.8%
That’s all for this week’s update…
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