Russia's war on Ukraine could triple ocean shipping rates to $30,000 per container, expert says
Journal: Zenodo (CERN European Organization for Nuclear Research)
Year: 2022

Russia's invasion into Ukraine is likely to send ocean and air shipping rates skyrocketing at a time when the global supply chain is still reeling from the pandemic. Ocean rates could double or triple due to the invasion, according to Glenn Koepke, the general manager of network collaboration at the supply chain consultancy firm FourKites. Koepke told The New York Times that shipping rates could surge from $10,000 per 40-foot container to $30,000, while air freight rates could jump even higher.