Freight rail transport revenue in Belgium 2014-2022

Up until a few decades ago, the Belgian rail freight transport industry was considered as one of the finest in the world, comprising a high density electrified rail network. However, the industry is no longer as successful like it once used to be, owing to the declining investments in modernizing infrastructure and the growing financial debts, which has resulted in a declining inventory. To give this some perspective, the overall stock of locomotives and railcars has declined from 1727 in 1990 to 1188 in 2015. Additionally, the number of goods transport rail wagons have declined from over 30,000 to just 11,600 during the same time period. As a result, revenues have witnessed a drastic decline from 1 billion U.S. dollars in 2014 to 341 million U.S. dollars in 2019. This trend is expected to continue in the short to medium term as well.

Companies impacted amid Covid-19 outbreak

With the outbreak of the corona virus, several cross-border cargo trains have been cancelled, a move that has not augured well with most of the shipping and rail transport companies, as they are forced to turn towards other costly alternatives. Moreover, work on all new railway projects has been put on a temporary standstill and will only resume once the working environment is deemed safe by the government.