Russian forces are shutting off shipping routes, logistics firms are suspending services, and air freight and tanker rates are skyrocketing, supply chain firms said.
“Parts of the Black Sea and Sea of Azov are now dangerous or unpassable. There have been missile attacks on vessels … and lane closures for commercial shipping,” said Christian Roeloffs, CEO of container marketplace Container xChange.
Limited air capacity presents a double whammy for shippers. With airspace over Ukraine shut and airlines avoiding Russian airspace, air freight rates are spiking. Read complete article here: https://www.cnbc.com/2022/03/11/russia-ukraine-war-impact-on-shipping-ports-air-freight.html
