Niels Rasmussen, chief shipping analyst at BIMCO, is warning that the negative impacts of Russia’s actions in Ukraine will have consequences for all sectors of shipping.

Though much uncertainty remains, the immediate commodity price increases and supply challenges caused by Russia’s invasion of Ukraine are likely to be felt throughout 2022. Also, recently implemented sanctions on Russia are not likely to be lifted any time soon. This may have sustained spill-over impact on the global economy.