TRM Group reports shipping disruptions amid war in Ukraine: Pivdenny, Odessa ports are halted; ports in Russia are open although several shipping lines have paused operations; Belgium, Netherlands announce ban on transit of Russian cargo via their ports

Sample article from our Logistic & Supply Chain

March 4, 2022 (press release) –

Business and production stopped in Ukraine - many people fled to the neighboring Poland, Hungary, Slovakia, Romania and Moldova  (368 000 people,  mostly women and children as of February 27th according to UN; with enormous queues at the borders, this number is constantly growing), men are not allowed to leave the country and are called to duty or volunteer to join the army.

None of the metallurgical plants (among those we managed to reach) are currently operating in Ukraine. Pivdenny and Odessa ports are not operating either, major shipping lines forbid their vessels to enter and bookings to and from the ports are not available. The rest of the businesses are also stopped, Kyiv is experiencing disruptions in food supply in supermarkets after people rushed for food after the weekend curfew.

Numerous changes in the business in Russia. As of February 28th the Russian Ruble is traded at 108 RUB for 1 USD (37% up from Feb 22); up to 150 USD/RUB in banks. To stabilize the currency market, the Finance Ministry will oblige exporters to sell up to 80% of currency, starting February 28th - which is approximately 470 billion USD a year (pre-sanctions estimation). With the current volatility of USD/RUB rate this measure is basically killing the export-import business. Also the key rate of the Bank of Russia was raised to 20% (from 9.5% earlier). People are queuing at banks and ATMs to withdraw money from their accounts and exchange as much as possible into US dollars.

Many major banks - like the state-backed Sberbank and VTB Bank are under sanctions, those banks that have not formally been announced being in the sanction list are preparing for same and limiting or cancelling operations - currency exchange and hedging, transfers in currency other than Ruble are not available. Blocking access to SWIFT for several Russian banks has been approved by many countries and is a matter of time.

The ports of Russia are currently operating, however, several shipping lines have announced limiting operations - Hapag Lloyd, Yang Ming currently stopped bookings to and from Russia. Belgium and Netherlands have announced they will forbid import, export and transit of Russian cargoes via their territories, meaning that their ports - a major hub previously - will not be further used for transloading from feeder to ocean vessels.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Chelsey Quick
Chelsey Quick
- VP Client Success -

We offer built-to-order logistic & supply chain coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.