UN Model Rules Updated to Support Digital Identification and Real-Time Tracking of Railway Rolling Stock

The UNECE Working Party on Rail Transport has published the 3rd Revision of the UN Model Rules for the Permanent Identification of railway rolling stock. This includes a new Appendix 3, which provides for the incorporation of the globally unique 16 digit URVIS (Unique Rail Vehicle Identification System) numbers onto digital platforms.

This will facilitate the real time tracking by creditors of the location and potentially other information in relation to financed rolling stock. The use of the digital platform is optional and is not a condition for the registration of an international interest at the International Registry. However, it creates more security for creditors and potentially could be open to insurers and even regulators.

Rail Working Group Chairman Howard Rosen said that: “This is a major step forward for the industry, allowing creditors for the first time to track the location of rolling stock in real time. But it will also bring other advantages, facilitating better asset management, including predictive maintenance and easier repossession and redeployment of rolling stock, reducing creditor risk, as well as potentially new pricing structures for leasing of rolling stock on a per kilometre basis.”

Max Eichorn, CEO of Nexxiot AG, one of the leading companies providing real time tracking of rolling stock, commented: “The global freight ecosystem is shifting to a datafirst era. Rising volumes, tighter regulations and higher customer expectations now reward operators who can see, measure and optimise every railcar, container and asset in real time. As a 10-year pioneer of rail asset tracking, Nexxiot supports the actions of the UN Working Party on Rail Transport in adopting this major change.”