AMKAF - Maersk halts all container shipping to and from Russia

A.P. Moeller-Maersk (OTCPK:AMKBY) says it will temporarily stop all container shipping to and from Russia in response to sanctions imposed on the country following its invasion of Ukraine. The suspension, which will cover all Russian ports, will not apply to foodstuffs, medical and humanitarian supplies. The company says it is seeing effects of the Ukraine situation on global supply chain flows, with delays, detention of cargo by customs authorities and unpredictable operational impacts. Maersk operates container shipping routes to St. Petersburg and Kaliningrad in the Baltic Sea, Novorossiysk in the Black Sea, and to Vladivostok and Vostochny on Russia's east coast. Maersk said recently that it expects to have a strong H1, even as supply chain challenges continue before stabilizing later in the year.

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Maersk halts all container shipping to and from Russia