Severstal cuts costs using inland waterways

Severstal cuts costs using inland waterways

Severstal, one of Russia's largest mills, reported that it plans to make heavy use of inland waterways this year to save on rail transport. The company says it plans to increase shipments from Cherpovets, north of Moscow by 36% to 1.5 million tons in 2002 by using internal waterways to various export markets. Shipments destined for Europe will go by river-sea vessels via St. Petersburg directly on to its customers. Currently, Germany, Finland and the UK absorb a quarter of the exports.