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The global supply chain has suffered a geopolitical impact Crude oil freight rates have doubled in the past two weeks

 Last Update: 2023-03-07
 Source: Internet
 Author: User

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On March 1, local time, the United States announced that it would close its airspace
to Russia.
Prior to this, the European Union and Canada took similar measures
.
In response, Russia announced restrictions
on flights operated by airlines from 36 countries, including all 27 member states of the European Union.
Cargo industry insiders said that affected by this, air cargo between Europe and Asia may need to find alternative modes of transportation
.

The maritime industry has also been hit by geopolitical factors, with the latest Baltic Crude Oil Index (BDTI) at 1449, up 110%
from two weeks ago.
Han Jun, an analyst at CSC, believes that affected by sanctions, oil and gas transportation from Russia to Europe may be blocked, which will make Europe need to import oil and gas from the United States and the Middle East by sea, greatly increasing the transportation distance
.
At the same time, if Russian shipping companies are sanctioned, there may be gaps in market capacity, which will significantly increase freight rates
.

In terms of the company, China Merchants Steamship and COSCO Shipping Energy are the leaders in the domestic oil tanker transportation industry
.

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