International freight travelling near Russian ports has dropped considerably since global sanctions were imposed on the country following the invasion of Ukraine. More disruptions to sailing schedules are expected to slow global supply lines in the months ahead, according to a report from logistics software vendor project44.
The company tracked a 54% drop in vessel traffic within 50nm of Russian ports between February 1st and March 4th. These stemmed from suspended bookings to Russia.
Carriers MSC and Maersk have suspended all cargo bookings to and from Russia, including all access areas near the Baltic Sea, the Black Sea, and the Russian Far East. CMA CGM, Hapag-Lloyd and Hamburg Sud and other major carriers have since suspended bookings in the region.
Adam Compain, senior vice president of data insights for project44, said that “as major carriers suspend services to Russia, we are going to see additional disruptions to global sailing schedules in the months ahead, leading to additional global delays”.
Daily peak teu vessel volume calling at Russian ports fell by more than 40% between February 1st and March 3rd, according to the report, which is based on data from the company’s Supply Chain Crisis Tracker.