Freight News, Sea

Russia saw pre-invasion import surge

[ March 10, 2022   //   Chris ]

Import volumes into Russia increased just before the invasion during the week of 16-22 February with 52% of shippers increasing load volumes, says , says visibility firm FourKites. It appears that shippers may have been expediting shipments into Russia in anticipation of a conflict as troops massed at the border, it says.

Since the invasion volumes into Russia have slumped 40% since the invasion of Ukraine. Overall Russian import volumes for the week of  2 – 8 March are down 40% from 16 – 22 February, with a decrease seen across industries, with manufacturing, chemical, oil and gas down 33%, retail down 35%, and consumer packaged goods down 57% over the same period.

Elsewhere, it says, ocean dwell times have continued to increase. On 8 March, export dwell times across all European ports have increased by 36% since 17 February. Transshipment dwell times for European ports are up 41% over the same period. Import dwell times remain lower when compared to exports and transshipments, but are still up 9% when compared to 17 February. 

Over the past week, FourKites has seen the largest increases in ocean dwell time in Northern Europe, where dwell times are now up 31% week-over-week and up 58% when compared to 17 February. Dwell times for Eastern, Southern, and Western Europe remained stable over the past week, though still higher compared to the week prior to the invasion.

Tags: FourKites