The Rail Working Group (RWG) is the international nonprofit charged with global implementation of the Luxembourg Rail Protocol, a uniform system for identifying, recognizing and enforcing security for creditors financing railway rolling stock. It is promoting a new global digital platform for tracking freight and wagons.
The platform allows to identify rolling stock on the world’s railways using the URVIS (Unique Rail Vehicle Identification System). It will work on cloud technology. However, for this purpose cars will need to be provided with numbers in the URVIS system.
To accept the car into the system, it is necessary to install mobile sensors on it, which are powered by solar energy. Then connect to the system gateways to ensure tracking and accounting of rail freight and wagons. This creates a single global identifier for the rolling stock.
Feature of the project
The feature of the project is that participation in it allows customers to take advantage of a reduced rate loan under the Luxembourg Protocol. It is used to organize railway logistics chains. However, we will have to agree that at the same time tracking the condition and location of the car with the cargo will be available to creditors. In this way, the lender can reduce its risks.
Know Your Cargo (KYC) program is installed at the client accordingly. It opens access to the positioning of rolling stock.
The interest of private investors, who provide customers with soft loans, is to create a new international system for recognizing creditors’ rights to rolling stock, regardless of its location, to increase funding for the purchase of wagons and the efficiency of investment in it (from the private sector).
The Luxembourg Rail Protocol was adopted in 2007 under the Cape Town Convention on International Interests in Mobile Equipment. It is currently ratified in some EU countries and Mozambique. It is expected to be signed in South Africa in the near future. A number of States (Ethiopia, Kenya, Uganda, Namibia, Malta, Finland, Ukraine and Mauritius) are working on the Protocol.
This document applies to all rolling stock, including locomotives, tram cars and subway trains. And the protocol itself is expected to enter into force for member states in 2022.
Source: Ukraine Rail Monitoring