The Impact of the Russia-Ukraine Crisis on Shipments

Under the Russia-Ukraine crisis, the Ukrainian government announced a state of emergency for 30 days starting from 00:00 local time on the 24^th of this month. No vessel is allowed to leave Ukraine. According to Drewry, the war between Russia and Ukraine may lead to sharp fluctuations in the freight of dry bulk carriers since Russia and Ukraine were important exporters of bulk raw materials during the last few years. Besides, military conflicts and sanctions may interrupt the port trade around the Black Sea and affect the prices of these related commodities. Compared with the dry bulk shipping industry, the freight gathering industry seems to be less affected by the Russian Ukrainian crisis.
 

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