Ukraine and Russia Conflict – Update 01MAR22

Following our advisory issued yesterday, the situation continues to develop by the hour.

As speculated, as a countermeasure towards the western world sanctions, Russia has now
closed Russian airspace for 36 specific countries, including all 27 EU countries, Canada and the UK. This measure was expected but will nonetheless significantly impact flight schedules and, ultimately, the capacity situation.

On the ocean freight side, more carriers have opted for a temporary suspension of all bookings to/from Russia, with Maersk and ONE being the latest to announce the same.

Overall we expect the current situation will trigger an immediate capacity constraint across transport modes, as well as pressure on freight rate levels, including oil price increases.

We encourage you to keep close contact with us for priority shipments, allowing constant dialogue on potential alternative routing options.
We are monitoring the situation closely and will communicate pro-actively on potential further steps impacting our ability to service shipments to, from and via Russia.

All information is given to the best of our knowledge and is prone to change