A new crisis is looming…
As you know, Russia declared war on Ukraine on February 24th. Following this declaration, ALL flows to/from Russia and most of those to/from Ukraine are currently suspended.
Apart from flows to/from Russia or Ukraine, maritime traffic is not heavily disrupted at the moment.
However, available space in maritime transport will decrease further with the transfer of RAIL flows to SEA. This may ultimately lead to another increase in prices.
We also expect personnel issues in the maritime sector, as it is estimated that 15% of the global maritime freight workforce is Ukrainian or Russian.
Following the declaration of war, Ukrainian airspace has been closed since February 24, 2022.
Since February 28, France and Europe have decided to ban Russian airlines from their airspace. In response to these measures, the Russian government has banned European airlines from its airspace.
These bans will have an impact on flows to/from Asia. Specifically:
– Restricted available space on flights: A decrease in available space to and from Europe is already being felt due to the ban on Russian airlines.
– Increased delays: Disruption of air traffic and increased delays due to the ban on flying over Russia.
– Price increases: Prices are increasing due to the rise in fuel surcharges and the implementation of a “war surcharge” tax.
Below is a map of Europe showing the countries that have closed their airspace to Russian airlines.
The direct consequence of this entire situation is a disruption of flows to and from Asia and an increase in prices for SEA, ROAD, and AIR traffic.
Now more than ever, the entire ThemaTrans team is at your disposal if you have any questions.