Port nationalised

In February of this year alone, Russia’s container market rose by 23.5 per cent year-on-year to 533,000 TEU. The preceding month also saw growth.

While Ukraine has managed to expand throughput via its sea harbours to 75% of pre-war levels, further growth is hindered by reduced production volumes.

Estonia plans to nationalise and sell off assets owned by sanctions-hit Russian companies and will auction marine terminals in Muuga and Sillamäe.

Russia’s Global Ports Group has purchased a fleet of specialised bulk containers to support its new bulk cargo export customers.

Having lost most of its maritime links with European countries, Moscow has been developing its ties with Turkey. A new sea route has been opened across the Black Sea and more will follow

Maersk has stopped all vessel operations in Russia and service with Belarus and is “winding down” its domestic operations in both countries. It booked a US$718M financial impact from the Ukraine war in Q1 2022