Maintenance shutdowns slow Transnet rail volumes but higher target intact, official says

By Olivia Kumwenda-Mtambo CAPE TOWN, Oct 14 (Reuters) — South Africa's state-owned logistics firm Transnet is slightly behind its targeted minerals rail volume due to maintenance shutdowns, but remains confident that volumes will rise this year, the CEO of its freight rail division said. Transnet Freight Rail saw total volumes increase to 167.9 million metric tons in the last financial year to end-March, with the majority accounted for by minerals. That compares with 160.1 million tons a year earlier and a target of 180 million tons. CEO Russell Baatjies told Reuters that the company was slightly behind on some commodities, citing scheduled maintenance on the iron ore line, which is on a shutdown from October 6 to16, its second in the current financial year. Baatjies said that despite the disruption, a target to move 170 million tons of minerals, out of 180 million tons overall, remained, although he added that it could be tough to achieve The firm was also dealing with cable theft on its lines even though there were fewer incidents than previously, he said Baatjies said any miss on volumes at the end of the current financial year, would only be "slightly below" (Reporting by Olivi