Freight News, Sea

Russia saw pre-invasion import surge

[ March 10, 2022   //   ]

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.