VTG, Europe’s largest leasing company for freight wagons and specialized containers, has announced that it will withdraw from the business of transporting tank containers and related forwarding services by the end of the second quarter of 2023, Railway Supply magazine reports with reference to zdmira.


The respective VTG Tanktainer subsidiaries in Germany, Finland, North America and Singapore will be closed. Only the Shanghai COSCO VTG Tanktainer, a joint venture with the shipping company COSCO in China, will remain. At the same time, VTG will continue to develop activities related to the leasing of tank containers.

Record number of passengers in Germany

VTG explains its decision by a significant deterioration in the market situation since the third quarter of 2022 due to a drop in demand for the transportation of goods in the chemical industry due to a significant increase in electricity tariffs, while at the same time a significant increase in the cost of services in the field of multimodal transportation. At the same time, there is a high volatility in the freight price, which does not allow fixing it for a period of more than three to six months.

Railway news you might have missed:

UZ blocked the movement of Kazakh tanks for liquefied gas

Find the latest news of the railway industry in Eastern Europe, the former Soviet Union and the rest of the world on our page on Facebook, Twitter, LinkedIn, read Railway Supply magazine online.

Place your ads on webportal and in Railway Supply magazine. Detailed information is in Railway Supply media kit