Transnet mulls rail tariffs

The New Development Bank has granted a R5 billion (US$ 280 million) loan to Transnet to improve South Africa’s freight rail infrastructure, locomotives, and wagons.

The SAMSA announced that salvage efforts for the wrecked MV Ultra Galaxy off South Africa’s west coast are now focused on removing the vessel.

Transnet has begun increasing coal rail volumes to Richards Bay, with fewer security incidents, amid a decline in SA coal exports due to unreliable rail services.

Over 200 people are mobilised to clean up oil from the MV Ultra Galaxy which has further torn into pieces, while the CMA CGM Belem awaits berthing.

Transnet is struggling with massive debt, widespread theft, and vandalism on its rail network, exacerbated by alleged corruption in its security tendering process.

The salvage team on the Ultra Galaxy awaits a week of good weather for fuel extraction, while South African authorities assist Panama in the investigation.