Special Ukraine Shipping Report

April 1, 2022

First and foremost, our thoughts and prayers to the people of Ukraine and all impacted by this terrible situation.

In the Ukraine, household good services have ceased this week and all other relocation service is difficult at best right now. If you do need assistance, do let us know and we will try to be of help.

Our colleagues in Russia have reported that relocation services in Russia are operational, however, due to the restrictions and sanctions, costs and transit times will be extremely high. Getting expats and their belongings out of Russia will be especially challenging right now.

The impacts of this situation will continue to be far-reaching and long lasting.

Air and sea shipments have had their routes significantly altered. A lot of cargo either travels through or flies over Russia and the surrounding region and will be re-routed. CargoLux, a large airfreight company, just announced a War Surcharge applicable on all cargo having origin or destination Asia.

Yesterday, a shipping analyst stated that shipping costs from Asia to EU will be 5x higher than they are now. There will also be more congestion globally due to normal shipping routes/methods being disrupted. This happens at a time when the shipping industry it still trying to get back to normal.

Fuel surcharges are expected to climb, especially in Asia and the EU, most of which (besides France) relies heavily on oil from Russia.

Finally, we have started to see some cyberattacks on shipping companies, including this one reported here by the Wall Street Journal.

We will provide our regular shipping news update soon and as always, please let us know if you have any questions or have information to share.

When No Noise is Key, Experience is Everything.