Maersk raises embargo flag

A “significant” amount of products already at sea needs to be returned because of the Russian embargo on food imports, Maersk says.

It did not specify the volume of goods affected by the ban but a spokesperson told Reuters the cost does not lie with Maersk.

Last week TradeWinds had reported that trading vessels could find themselves in the middle of a dispute between sellers and buyers because of the Russian embargo imposed on 7 August.

Maersk said in its newsletter: “Our customers were completely unprepared for these sanctions and since they had effect immediately, a significant amount of cargo at sea needs to be returned.”

In cases that goods are rejected at Russian ports, the sellers’ only long-term choice is to re-sell them to another destination.

Two weeks after Russian president Vladimir Putin's ban order the first problems at sea have emerged.

Despite Russia’s increasing isolation, shipping companies could benefit from the expected rise of alternative markets.

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