The Ukraine effect: Lasting upheaval for shipping markets

Episode 3 of a special six-part series of Lloyd’s List Podcasts examining how the war in Ukraine has had a lasting impact on different aspects of the shipping industry. This episode examines the impact on shipping markets. To listen to the full series go to: http://bit.ly/3KbnQpS After three years of pandemic shutdowns, reopening booms, war, clogged supply chains and nascent inflation, it’s hard to remember what a normal market looked like, if ever such a thing has ever existed. But Russia’s invasion of Ukraine has had a profound impact on global trade. As we recorded this special edition of the podcast economic growth forecasts for 2023 were once again being revised downwards, partly due to high interest rates and inflation in many economies, but much of the current global macro picture stems directly from the negative global economic spill overs from the war in Ukraine. But the war has also acted as a powerful catalyst for a rapid and often chaotic shift in oil flows, sending tanker rates, and tonne-miles, soaring to previously unseen levels. Featuring on this edition of the podcast: • Niels Rasmussen, chief shipping analyst at BIMCO, offers a view on the overall impact that the war in Ukraine has had on the shipping markets. • Peter Sands, chief analyst at Xeneta, talks about the knock on impact that the war has had on container trades.