Freight News, Sea

Russia and Ukraine imports slump

[ March 18, 2022   //   Chris ]

Import volumes into Russia and Ukraine have continued to decrease since the invasion began says visibility firm FourKites. As of the week of 9-15 March, import volumes across all modes into Russia are down 32% week-over-week, and are down 59% in total when compared to the week of 16-22 February. In Ukraine, import volumes are down 88% week-over-week (and are down 96% in total when compared to the week of 16-22 February.

For Russia, FourKites has seen decreases in import volume for both industrial and consumer products. For industrial products import volumes are now down 43% week-over-week, and are down 61% when compared to the week of 16-22 February.

Consumer products are down 23% week-over-week, and are down 56% when compared to the week of 16-22 February.

Away from Russia and Ukraine, it adds that ocean dwell times for exports and transshipments in Europe remain high, though dwell times have started to stabilise over the past week. As of 15 March, both export and transshipment dwell times at European ports are 20% higher when compared to 17 February (. Import dwell times at European ports have returned to levels seen before the invasion began.

Tags: FourKites