Shipping companies are reporting their third-quarter earnings, and the term “macroeconomic uncertainty” is being bandied about in reports and conference calls.

But while many see the dark clouds building on the horizon, not all are running for their umbrellas.

For some sectors, the inefficiencies that reverberated through supply chains following Russia’s invasion of Ukraine continue to proliferate — to the benefit of shipowners in segments, with longer tonne-miles as a result.