The fantasy world of private finance for transport via public private partnerships

Jean SHAOUL, Anne STAFFORD and Pam STAPLETON
Manchester Business School,University of Manchester,
United Kingdom
September 2012

Discussion Paper No. 2012-6
Prepared for the Roundtable on: Public Private Partnerships for Funding Transport Infrastructure: Sources of Funding, Managing Risk and Optimism Bias
(27-28 September 2012)
International Transport Forum

A key message of this paper is that it is more costly for the public sector to use the private sector as financial intermediaries. This is due in part to the higher cost of commercial over public debt and the cost of the profit margin of both the private partner and its extensive supply chain. But there are also the not inconsiderable legal and financial advisors’ fees to each of the numerous parties to the transaction to structure and negotiate it

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Infraestructura y servicios de transporte ferroviario vinculados a las vías de navegación fluvial en América del Sur

Gordon Wilmsmeier
Serie de recursos naturales e infraestructura Nº 124
CEPAL
Octubre 2007

El transporte de carga ha abierto amplios horizontes para la economía internacional, permitiendo el avance de la especialización geográfica y que la industria utilice fuentes de servicio a escala global. Aún así, el mercado de transporte en América del Sur exige una integración adicional, incluyendo la conexión de todos los puntos nodales dentro de la región hasta las regiones fronterizas, casi siempre aisladas.

Dentro de las cargas transportadoras el transporte por ferrocarril en América del Sur sigue siendo el de menor importancia tanto a nivel nacional como subregional. Pero con el auge de la exportación y el interés renovado en el desarrollo de infraestructura crece la posibilidad de crear un nuevo enfoque, que incluye no solo la percepción unimodal, sino también la multimodal o intermodal.

Se destaca las posibilidades del transporte ferroviario de conectar regiones aisladas con las vías fluviales lo cual permite el fácil acceso a los puertos marítimos aguas abajo. En el presente estudio, se analiza este potencial bajo una visión conducente al desarrollo sustentable del transporte, con un impacto menor sobre el medio ambiente.

En base a un planteamiento metodológico y ejemplos, se llega a la conclusión de que es necesario iniciar un proceso político que tome en cuenta los impactos del transporte y la movilidad de las cargas. Este proceso debe poner énfasis en el potencial del desarrollo económico de regiones aisladas a través de la integración de los modos ferro-fluvial en América del Sur. Una visión unificada y la implementación de una política de transporte regional integrada puede resolver distorsiones y crear competitividad y eficiencia no solamente dentro del sector de transporte, sino también en su interacción con los otros sectores económicos y también sociales.

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Auditing public transport accessibility in New Zealand

C. O'Fallon
Pinnacle Research & Policy Ltd, Wellington
NZ Transport Agency research report 417
October 2010

The purpose of this research project was to review international best practice for auditing public transport (PT) accessibility and to develop and pilot a New Zealand-specific PT accessibility audit methodology.

The accessibility audit takes a whole-of-journey approach to accessibility, thus incorporating the following elements:

• accessing information about the services
• getting to the service
• paying for the service (access to information about the cost of the service and the physical ability to project)
• getting on board
• 'enjoying the ride'
• getting to the final destination (including ensuring that services in the network take people where they want to go, when they want to be there)
• making the return trip.

Auditing the accessible journey means that all the steps needed for a person to get from their home to their destination and then home again are regarded as linked and of equal importance. If one link is broken or inadequate, the whole journey becomes impractical or impossible.

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Intermodal Strategies for Integrating Ports and Hinterlands

Research in Transportation Economics
Volume 33, Issue 1, Pages 1-66 (2011)
Special Issue: Intermodal Strategies for Integrating Ports and Hinterlands

Special Issue: Ports and hinterland – Evaluating and managing location splitting
Pages 1-5
Gordon Wilmsmeier, Rickard Bergqvist, Kevin P.B. Cullinane

Hinterland strategies of port authorities: A case study of the port of Barcelona Original Research Article
Pages 6-14
Roy Van den Berg, Peter W. De Langen

Information flows supporting hinterland transportation by rail: Applications in Sweden Original Research Article
Pages 15-24
Badi Almotairi, Jonas Flodén, Gunnar Stefansson, Johan Woxenius

Dynamics of Russian dry ports Original Research Article
Pages 25-34
Eugene Korovyakovsky, Yulia Panova

Financial and environmental impacts of hypothetical Finnish dry port structure Original Research Article
Pages 35-41
Ville Henttu, Olli-Pekka Hilmola

Placing dryports. Port regionalization as a planning challenge – The case of Hamburg, Germany, and the Süderelbe Original Research Article
Pages 42-50
Heike Flämig, Markus Hesse

The Indian dry ports sector, pricing policies and opportunities for public-private partnerships Original Research Article
Pages 51-58
Hercules Haralambides, Girish Gujar

The role of inland terminal development in the hinterland access strategies of Spanish ports Original Research Article
Pages 59-66
Jason Monios


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St Gotthard: The world's longest railway tunnel - Promoting the transfer of freight traffic from road to rail

Florence Pictet
PIARC
RR349-076
2011

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French version: St Gothard : le plus long tunnel ferroviaire du monde pour encourager le transfert du fret de la route au rail

Better economic regulation: The role of the regulator

International Transport Forum
ITF Round Tables, No. 150
May 2011

photo from the document

Efficient provision of transport infrastructure is critical to economic growth. The long asset lives of much transport infrastructure indicates governance through regulation, rather than through contract or public ownership. This can ensure predictability in long-term relationships whilst preserving some flexibility to deal with changes in external circumstances.

The transparency created by a fully independent regulator is invaluable for ensuring sufficient investment is forthcoming, while maintaining reasonable conditions for user access. Discussion at the Roundtable focussed on how to achieve effective independent regulation and how to reconcile independence with the legitimate control of policy by the executive part of government.

Independent regulation is not seen as a universal default governance arrangement. Much of the discussion focused on when to regulate and when to rely on competition, even if imperfect, to drive efficiency. The discussions underscored that there are opportunities to improve performance significantly in the aviation, rail and road sectors, by learning from successful experience in improving governance structures in a range of countries.

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Transport Management - Thematic Research Summary

Transport Research Knowledge Centre
September 2009
*2010 Update



This paper covers the management of traffic and transport services for all modes, including changing the way in which existing transport systems are used and the strategic and tactical control of traffic. It is based on results of projects covering mobility & traffic management in urban areas, freight & logistics management, and traffic & network management for road, rail, waterways and airspace.

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Reducing Carbon Emissions from Transport Projects

Evaluation Knowledge Brief
July 2010

ADB

A new report, “Reducing Carbon Emissions from Transportation”, recently published by the Asian Development Bank (ADB) provides an important new roadmap to cut greenhouse gases in this sector. With this report, the ADB becomes the first multilateral development bank to estimate the carbon footprint of its transportation assistance programs. These amount to 792 million tons for the projects supported by ADB between 2000-2009, nearly equal to the annual land transport emissions of Thailand.

Press release by ITDP

Project presentation, key findings, recommendations and tools (Evaluation models of several transport modes)

Evaluation model example:

Model 6: Urban Transport - Bus Rapid Transit System

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Uruguay: Análisis del sector transporte

CAF
Infraestructura - Informes sectoriales
2010

El presente informe es un análisis del sector transporte de la República Oriental del Uruguay e incluye tanto el transporte de carga como de pasajeros en sus diferentes modos: vial, ferroviario, acuático y aéreo. No se incluye la problemática del transporte urbano.

En cada uno de los modos se analiza la infraestructura, las operaciones, el marco institucional y regulatorio, y las fuentes de financiamiento. En particular, en lo que se refiere a la infraestructura –aspecto en el que el documento hace énfasis– se estudia su condición general y principales limitaciones, el rol del sector privado, los planes de inversión y las políticas vigentes. También se identifican algunas recomendaciones sobre a acciones a implementar.

Este documento resume un estudio más amplio que CAF realizó como parte de la evaluación sectorial que se efectúa en los países miembros. A través de la publicación de boletines sectoriales que, como el presente, realiza la Dirección de Análisis y Programación Sectorial (DAPS), se difunde el conocimiento y se presentan los análisis que efectúa la institución. El estudio mencionado fue realizado por un grupo de consultores coordinado por el Ingeniero Jorge Kohon, quien también redactó la sección correspondiente al transporte ferroviario; Mario Cammarota tuvo a su cargo el tema vial; Martín Sgut el transporte acuático; y, finalmente, Andrés Ricover desarrolló el tema del transporte aéreo.

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Algunas reflexiones sobre los servicios de infraestructura en América Latina

Ricardo J. Sánchez
Textos para discussao CEPAL
IPEA #25
2010

En resumen, el objetivo del presente documento es proporcionar antecedentes sobre algunos de los principales temas relacionados con una mejor disposición de los servicios de infraestructura, los cuales han sido enunciados anteriormente en esta introducción. A tales efectos, en una primera sección se analiza el estrés de la infraestructura y su efecto sobre la brecha de la misma en la región, la que se entiende tanto respecto del progresivo desajuste (y su proyección tendencial) entre la oferta y demanda de infraestructura, como así también en relación a la progresiva distancia que tiende a caracterizar la prestación de servicios de infra-estructura de ALC respecto de los parámetros internacionales, especialmente con las economías emergentes de otras regiones. Los principales aspectos relacionados con las políticas integradas de infraestructura, transporte y logística, así como con los criterios de sostenibilidad en el diseño y ejecución de las mismas, también son abordados.

Capítulo 6:

Transporte

.Carretero

.Marítimo

.Fluvial

.Puertos

.Ferroviario

     -Interfases

     -Terminales interiores

     -Contenedores

     -Integración modal

.Movilidad Urbana

.Problemas institucionales en el Transporte

URL

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Africa's Transport Infrastructure

World Bank
March 2011

This book presents and analyzes the results of a comprehensive collection of data on the extent and condition of transport infrastructure in Sub-Saharan Africa, identifies the reasons for poor performance, and estimates future financing needs.

The transport facilities of Sub-Saharan Africa were built primarily for the colonial exploitation of mineral and agricultural resources. The chief goal of road and rail networks was to link mines, plantations, and other sites for the exploitation and transformation on natural resources to ports, rather than to provide general connectivity within the region.

The road network of 1.75 million kilometers exhibits a low density with respect to population. Its average spatial density is very low by world standards. The network carries low average traffic levels. Even so, because most African countries have a low GDP, the fiscal burden of the network is the highest among world regions, maintenance is underfinanced, and road conditions are on average poor, while road accident rates are very high.

Attempts to improve the financing of maintenance through “second generation road funds” have met with some success, but there remain serious weaknesses in implementation. Road freight transport is fragmented, but cartelized, with high rates and high profits.

Railways were also built mainly as for the exportation of minerals and crops. With the exception of two or three very specialized bulk mineral lines, the traffic volumes are low, and the railways have been in financial decline since the 1960s. Concessioning of the lines to private operators has improved performance, but governments often impose unachievable requirements on the companies, and investment remains inadequate for long-term sustainability.

Most of the 260 airports that provide year-round commercial service in Sub-Saharan Africa have adequate runway capacity, though some of the larger airports suffer from a shortage of terminal capacity. More than a quarter of the runways are in marginal or poor condition, and air traffic control and navigation facilities are below international standards. Though airport charges are high, few airports are truly financially sustainable. Three national carriers are quite successful, but most are small and barely sustainable. Protection persists in the domestic and intercontinental markets, but the international market in the region has been effectively liberalized.

The safety record is poor. Most ports are small by international standards. Many are still publicly owned and suffer from inadequate equipment and poor productivity. Only a few highly specialized ports, including private ports integrated with the extraction companies, meet the highest international standards Costs and charges are high. But there is a trend toward concessioning of facilities to large groups specializing in international container terminals and port operations. Fortunately the shipping market is now deregulated.

Urban transport suffers from some infrastructure deficiencies, particularly in the condition of urban roads. But the main problems of the sector are associated with the fragmented and poorly regulated nature of most urban bus markets. Finance for large buses is very difficult to obtain.

In all modes the situation is made worse by failures of governance in both the provision and regulation of infrastructure. The overall deficit in financing for infrastructure is estimated using a model based on the application of hypothesized standards of connectivity for all modal networks and facilities. Once the amount of infrastructure needed to meet those standards was calculated, these “requirements” were compared with existing stocks and the costs of making the transition over a ten-year period were calculated.

A “base” scenario used standards similar to those pertaining in developed regions, while a “pragmatic” scenario applied lower standards. In a separate exercise, the actual average expenditures on transport infrastructure from all sources were researched. This allowed the funding gap to be deduced by subtraction. The results showed that, excluding official development assistance, no country spent enough to meet the base standard, and that even with aid there remained substantial deficits in maintenance funding in many countries, with the worst situations found in the low-income, politically fragile group of countries.

URL

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Office of Rail Regulation: Regulating Network Rail's efficiency

National Audit Office
April 2011

Limitations in Network Rail’s information on its own costs are hampering the ability of the Office of Rail Regulation to judge the genuineness of the efficiency savings reported by Network Rail. The Regulator has also determined that substantial scope remains for Network Rail to improve its efficiency.

Today’s report by the National Audit Office acknowledges that the Regulator has significantly developed the methods it uses to judge efficiency. Its targets have demanded substantial improvements from Network Rail. According to the Regulator’s assessments, Network Rail has come close to meeting these targets, by making efficiency savings of 27 per cent in the five years to 2008-09, equivalent to £1.8 billion in that final year. This was below the Regulator’s target of 31 per cent, although this was still an achievement when compared to savings in other regulated industries.

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Keeping climate change solutions on track: the role of rail

UIC
December 2010

Transport brings enormous benefits to society through access and mobility, but it also has many external costs, including its contribution to climate change. Transport has a key role to play within solutions to climate change as current transport structures are responsible for extreme pressures on energy resources and ecosystems through a dependence on fossil fuels.

Rail presents a low carbon mode of transport, and continued energy efficiency improvements and increases in modal shift to rail from road and air are crucial to support the transition to low carbon mobility.

The technological and operational developments in rail, financial investments from international funds and governments, and the commitment of rail operators demonstrate not only the current status of rail, but more importantly the potential for rail to contribute to global emissions reductions in 2010 and beyond. Indeed the rail sector is ready to be part of the solution to climate change; the UIC Declaration on Sustainable Mobility and Transport (attached at the end of this document) outlines this commitment.

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Policy options for improving the efficiency of Uruguay’s railway sector

Report Nº 41884 - UY
Uruguay: Consolidated Report
Banco Mundial
2010

This report on Improving the Efficiency of Uruguay´s Railway Sector is part of the ongoing dialogue between the World Bank and the Government of Uruguay. It presents an up-to-date assessment of the rail sector in Uruguay and proposes various short- and medium-term measures that contribute to the modernization of the current railroad and its future development. It is hoped that this report will support the Government of Uruguay in the decisions that it must make to define a national railroad policy that is consistent with an overall transportation policy and with the role it has given to the State Railroad Administration (AFE).

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Evolución y comparación de las tarifas en el sector de infraestructura de transporte de uso público 2009

OSITRAN
Diciembre 2009

El presente informe tiene un doble objetivo. En primer lugar, mostrar la evolución tarifaria para el uso de la infraestructura portuaria, carretera, aeroportuaria y ferroviaria, bajo la competencia del Organismo Regulador de Transporte (OSITRAN). En segundo lugar, comparar las tarifas en Perú con tarifas por servicios similares en otros países de la región.

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Building India: Transforming the nation’s logistics infrastructure

Transforming India's logistics infrastructure - McKinsey Quarterly - Transportation - Strategy & Analysis

McKinsey & Company
Infrastructure Practice
September 2010

Transforming the nation's logistics infrastructure

The report discusses the losses to the economy due to poor logistics infrastructure, which will substantially increase under current trajectory of infrastructure development, and recommends a new, balanced modal approach for India's logistics infrastructure development. The report reveals that losses to the economy will increase from $45 billion (over 4 percent of GDP) currently to about $140 billion (5.3 percent of GDP) in 2020. The recommended balanced modal approach requires coordinated infrastructure development with increased focus on rail and better utilization of current infrastructure and can reduce losses and India's freight transport energy consumption by approximately 20 percent.

Executive Summary

Full Report

Artículo relacionado:
Transforming India’s logistics infrastructure

Quantification of the non-transport benefits resulting from rail investment

David Banister and Mark Thurstain-Goodwin
Journal of Transport Geography
June 2010

Traditional methods of evaluation have not been very successful in accounting for non-transport benefits resulting from rail investments. But increasingly, these factors are becoming more important in well-developed transport networks, as the effects of additional links or capacity cannot be justified in transport terms alone. This paper brings together the evidence at three separate levels arguing that there are different impacts that must be investigated at different levels with appropriate methods. At the macroeconomic level, regional network effects can be identified, as can the impacts on the economy as measured through changes in output and productivity. At the meso level, the impacts relate more to agglomeration economies and labour market effects, with some additional network and environmental consequences. At the micro level, the impacts are determined by the land and property market effects. Examples of rail investment are given for each of the scales of analysis, and conclusions are drawn on the future directions and challenges for the quantification of both transport and non-transport benefits.

1. Introduction
2. Macro economic effects – impacts on economic growth
2.1. Case Study 1 – the channel tunnel rail link (CTRL) in London
3. Meso economic effects – impacts on agglomeration
3.1. Case Study 2 – the Crossrail line (CL) in London
4. Micro economic effects – impacts on land and property values
4.1. Case Study 3 – the Jubilee Line Extension (JLE) in London
5. Comments and conclusions
Acknowledgements
References

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A guide to transportation funding options: Phase 2 - Final report

University Transportation Center for Mobility
October 2009

This project is a continuation of a project that provided a one-stop shop website, A Guide to Transportation Funding Options (http://utcm.tamu.edu/tfo), detailing transportation funding options and their applicability in an easy-to-use format. The first phase of this project compiled information on transportation funding options for highway funding.

This subsequent phase provided similar information for other modes of transportation including transit, rail, aviation, and ports. The information is presented in a format that is user friendly and easily accessible via the Internet for anyone interested in project financing methods

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A Track Record of Success: High-Speed Rail Around the World and Its Promise for America

U.S. PIRG Education Fund
November 2010

As America moves toward construction of new high-speed rail networks in regions throughout the country, we have much to learn from experiences abroad. High-speed rail lines have operated for more than 45 years in Japan and for three decades in Europe, providing a wealth of information about what the United States can expect from high-speed rail and how we can receive the greatest possible benefits from our investment.

Indeed, the experience of high-speed rail lines abroad, as well as America’s limited experience with high-speed rail on the East Coast, suggests that the United States can expect great benefits from investing in a high-speed passenger rail system, particularly if it makes steady commitments and designs the system wisely.

Contents:
Executive Summary 1
Introduction 6
High-Speed Rail:
Experiences from Around the World 8
High-Speed Rail Replaces Short-Haul Air Travel 8
High-Speed Rail Replaces Car Travel 17
High-Speed Rail Saves Energy and Protects the Environment 19
High-Speed Rail Is Safe and Reliable 23
High-Speed Rail Boosts the Economy 26
High-Speed Rail Is Often Economically Self Sufficient 33
High-Speed Rail, Transit and Land Use 34
Conclusion and Recommendations 39
Notes 43

Press Release

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Vision 2050: The new agenda for business

World Business Council for Sustainable Development
February 2010

The Vision 2050 report ( 2.6 MB) lays out a pathway leading to a global population of some 9 billion people living well, within the resource limits of the planet by 2050. This work results from an 18-month combined effort with CEOs and experts, and dialogues with over 200 companies and external stakeholders in some 20 countries.

The report spells out the “must haves” – the things that must happen over the coming decade to make a sustainable planetary society possible. These include incorporating the costs of externalities, starting with carbon, ecosystem services and water, into the structure of the marketplace; doubling agricultural output without increasing the amount of land or water used ; halting deforestation and increasing yields from planted forests: halving carbon emissions worldwide (based on 2005 levels) by 2050 through a shift to low-carbon energy systems and improved demand-side energy efficiency, and providing universal access to low-carbon mobility.

Vision 2050, with its best-case scenario for sustainability and pathways for reaching it, is a tool for thought leadership, a platform for beginning the dialogue that must take place to navigate the challenging years to come.

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Documento en español: Una nueva agenda para los negocios

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