Dislocated trade flows and changing supply-demand dynamics are expected to support dry cargo markets in the second half of this year as the world scrambles to meet its energy and food needs, according to market experts.

The war in Ukraine is expected to wipe a huge amount of grain from the market this harvest season because Ukraine cannot export it and many countries have imposed trade sanctions against Russia.

“No doubt the Russia-Ukraine war is adding further fuel to an already unstable and volatile shipping environment,” said Sevi Katemoglou, founder of Athens shipbroker EastGate Shipping.