AMKBY - Russia's war in Ukraine rattles global shipping rates could triple

The war in Ukraine is threatening to upend the global shipping industry, which is still trying to recover from the coronavirus pandemic. Two of the largest shipping container groups, Maersk (OTCPK:AMKBY) and Mediterranean Shipping, have already suspended cargo booking to and from Russia, with sanctions are starting to have an impact on trade. Ocean rates could even double or triple from the current $10,000 per 40-foot container, according to Glenn Koepke of supply chain consultancy firm FourKites. Ripple effect: Cargo checks are now one of the biggest disruptions to shippers, making sure they are not breaking sanctions at ports in the EU and the U.K. Companies are also halting operations due to uncertain waters. For example, a ship laden with crude or LNG could be subject to sanctions just days after embarking on its journey, leaving the cargo stranded and the company forced to swallow the costs. Things are getting worse

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Russia's war in Ukraine rattles global shipping, rates could triple