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Russia-Ukraine conflict to drive up seafarer wage inflation and vessel operating costs

Russia’s invasion of Ukraine will impact seafarer availability to crew the world’s merchant fleet, particularly for officers where supply has tightened, leading to rising wage inflation and higher vessel operating costs. Both Russia and Ukraine have historically provided large numbers of officers and ratings to the global merchant fleet. Drewry estimates the current supply numbers …

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US appetite for Far East imports to face test as February retail sales fall 0.5%

During the pandemic retail sales and personal savings have been increasing in tandem and supported US consumer demand for imports from the Far East. Now, retail sales appear to be receding and the question is whether the past two years’ savings will be enough to support continued high import volumes as consumer sentiment is dropping …

US appetite for Far East imports to face test as February retail sales fall 0.5% Read More »

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