Transnet CEO fears major job losses in trucking industry if rail improves

  • 📰 News24
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 80%

Business News News

Business Business Latest News,Business Business Headlines

South Africa’s surge in trucking that’s emerged largely due to higher coal prices and train bottlenecks may lead to catastrophic job losses in the road transport sector when factors ease, according Transnet's CEO.

South Africa’s surge in trucking that’s emerged largely due to higher coal prices and train bottlenecks may lead to catastrophic job losses in the road transport sector when factors ease, according to the head of the state-owned port and rail company.

Over 3 500 trucks per day carry mined products across the nation’s roads, more than double such traffic in 2020, according to Minerals Council South Africa. "We have created the demand — our failure on one hand and also the demand of the mining industry has created the trucking industry," she said."For the vast majority of the truckers, they are moms and pops, who when they left work took their pensions and bought a truck because there was an opportunity."

But prices for export coal have dropped more than 50% in the first half of the year, compared to the same period in 2022, Exxaro Resources Ltd. reported Thursday in a results statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines