The national rail company Latvijas Dzelzcels (Latvian Railways) has presented a three-year business plan, to keep the company operational despite rapidly dropping rail freight volumes.
The company plans to join logistics segments like freight forwarding by sea and road to compensate for the loss of rail freight.
The shipping of freight by rail has been declining in recent years. In 2019 they recorded the lowest freight turnover in 18 years. This year freight volumes have been dropping further, by 52 percent year-on-year, according to estimates.
