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The surge in US container imports continued in April when West Coast loaded imports amounted to 1.10m TEU.
On 8 June 2022, the European Union (EU) decided to impose a ban on seaborne imports of Russian crude oil and oil products. The ban on crude oil will take effect on 5 December and by then the EU must have found new suppliers and Russia must find new buyers.
Greek shipowners are not only the most active nation when it comes to sales and purchases, they are also investing the most in newbuilding contracts. Since 2010, contracts made by owners in Greece total USD 51 billion, consistently dwarfing the likes of Norway and China as buyers.
The recently imposed new restrictions in several ports will have an impact on the operations of ships. Performing crew changes will very likely become more difficult and result in floating quarantines, meaning that more delays and disruptions in supply chains can be expected. With the new variant creating uncertainty for shipowners, even more complex planning will be needed to avoid financial losses.
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