KIEV, Nov. 7 – The State Railway Administration (Ukrzaliznytsia) said that its revenue target for January-October was not fulfilled due to a reduction in cargo shipments and the absence of cargo tariff indexation.

Ukrzaliznytsia said that with expected revenues from usual operations of UAH 46.5 billion in the 10 months ending October 31, the shortfall will be UAH 1.7 billion.

The non-fulfillment of the target is linked to a fall in cargo turnover of UAH 1.4 billion due to a reduction in transit cargo shipments by UAH 800 million and a decline in the revenue rate by UAH 300 million, in turn due to a cut in the loading of expensive cargo - fuel, shipments of which over the 10 months were down by 35%, to 5.6 million tons, those for metals – by 6.7%, to 23.8 million tons, and those for ore – by 2.8%, to 60.4 million tons.