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Eurotunnel believes freight will bounce back
Page 10
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RAIL FREIGHT carried through the Channel Tunnel fell 16% last year but a quick recovery is being predicted following the launch of a new service.
The 300,000-tonne fall from nearly L9 millions tonne in 2004 is blamed on the loss of a contract.
Freight services through the tunnel are run by EWS in the UK and SNCF in France. A spokesman for EWS says the fall in rail freight follows a decision by intermodal operator ICF to withdraw from France and cross-Channel traffic last year as part of a major restructuring programme.
Much of the lost business is expected lobe recovered through a new subsidiary called Euro Cargo Rail now that EWS has the been granted the right to run trains on the Continent.
A trial service for a customer in northern France was successfully run through the tunnel to southern England last month. "We see this new operation in France as a catalyst for growing volumes of rail freight through the ChannelTunnel." says the spokesman.
ChannelTunnel operator Eurotunnel says the number of trucks it carried on its shuttle service rose by 2% last year. It adds that this was accompanied by a -substantial increase in yield".
However. Eurotunnel has warned it will go bust by January 2007 unless a deal can he reached with its creditors That's when the company should begin paying back a significant part of its f.6.4bn debt. Chairman Jacques Gounon is trying to negotiate a debt-restructuring deal with its creditors.