The Russia-Ukraine war will continue to have far-reaching effects on global trade, technology, and shipping. As shippers, it's crucial to identify and understand the implications on shipping and the freight market due to war and sanctions on Russia.
What have we witnessed so far?
Many international companies are divesting their activities in Russia, as they are concerned about the reputational risks of doing business there. This causes a significant impact on container shipping due to a lack of goods coming into Russia.
As the West is no longer sending investments into Russia, Russian consumer demand will reduce, and the economy will likely struggle to bounce back.
Before the war on Ukraine, Russia managed 2-3% of global container handling, so being excluded from international business will cause multi-year damage, illustrated by the fact that Hamburg to Saint Petersburg freight rates went down by 20%.
Cargo disruptions continue as the US and UK have denied Russian oil, and containers are being sent to alternate ports. The dislocation of Russian-bound containers worsens the equipment shortage of dry and reefer containers, and the impact on fuel prices is also felt around the world.
To shed light on the current global situation and help us understand how the shipping market will react to these international events, Peter Sand, Xeneta's Chief Analyst, and Dr. Harry Boardman, Partner and Managing Director Chair at Berkeley Research Group LLC, will be LIVE in our 'State of the Ocean Freight Market' webinar.
Join us Tuesday, March 22 to learn how you can better react to current global events and prepare for upcoming ocean freight disruptions.
Short- and long-term: Economic & Geopolitical impacts on shipping
What to expect if the Ukraine/Russia war continues?
How is China/US demand driving rate-rise?
Is nearshoring a solution for supply chain resiliency?
Rate analysis on major corridors
Meet the Speakers:
Peter Sand, Chief Analyst, Xeneta
Over a decade of experience analyzing commercial markets based on the global economic situation and its influence on trade at BIMCO
Sand is regarded for his widely-read articles, industry insight, and regular appearances on global news networks such as CNN, BBC, CNBC, and Bloomberg throughout his career.
Master's in Economics from the University of Copenhagen
Dr Harry G. Broadman, Partner and Managing Director Chair, Emerging Markets Practice, Berkeley Research Group LLC
Independent corporate director on four boards in international firms—serving as Audit Committee Chair, Compensation Committee Chair, and Executive Committee Member
Board Leadership Fellow at the National Association of Corporate Directors (NACD) and a Commissioned NACD Board Advisory Services Faculty Member.
He is a monthly Business Leadership Strategy columnist for Forbes, quarterly National Security Columnist for the International Financial Law Review and a frequent columnist for the Financial Times.
With an AB in economics magna cum laude from Brown University, he also holds a PhD in economics from the University of Michigan.
Join Xeneta's State of the Ocean Freight Market webinar on March 22 to get expert insight on how the market will react to these world events and take proactive steps to improve your ocean freight procurement.
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