ESTONIA: State owned logistics company Operail has reported a net profit of €2·6m for the first three months of 2019, double the figure for the same period last year. Chairman Raul Toomsalu said the main source of profit was the lease fleet of 2 100 wagons, with revenue up 65% as a result of ‘extensive demand and limited supply, which has increased rental prices’.

Freight traffic was down 2% at 3·6 million tonnes. ‘Our calculations show that if we carry more than a million tonnes a month, we earn a reasonable profit’, said Toomsalu.

However, he was ‘concerned about the confusion with the infrastructure fees and the high rates compared to our neighbouring countries, which makes it difficult to make the investments necessary in the future.’