Will the cargo claim industry see any interruption during Russia’s invasion of the Ukraine?

No Disruption to Cargo Claims During the Invasion

The answer is no. The cargo claims market will see no disruption as shippers and freight forwarders are finding alternative ways to move their cargo and realise the importance of recovering monies from liable carriers in these unstable times.

In the immediate term because of the invasion, this caused havoc for ports around the Black Sea, and the avoidance of Russian Ports, but it wasn’t just on the water. The Asia European railways also felt the bite, however supply chains, exporters and those reliant on moving cargo globally are resilient and Russia’s importance in global trade simply isn’t that big enough to cause ‘major disruption’ especially to Cargo Claims.

In 2021, Russia stood at 4.1% for EU export of goods and 7.5% for EU import of goods.

Exporters are now finding new business relations and expanding to different countries to keep their product moving meaning Cargo Claims now, and in the long-term will not be affected as cargo is simply redirected to other countries.

Unfortunately for exporters, the global pandemic and now the invasion of the Ukraine by Russia has ramped up freight rates and for rail freight especially, lower value cargo is being pushed out as prices increase and some cargo isn’t being moved at all.

There is also a shortage of containers as many are kept sat empty or full at origin or destination ports as European importers are reluctant to accept cargo because of unknown sanctions, and exporters alike are concerned.

This is the key time to unleash any trapped cash and keep your business fluid by making that cargo claim against liable carriers.

You can call us today so we can act fast and recoup your money, or alternatively look at our Legal Templates for you to make your own claim with all the correct legal jargon for you to fill in the blanks.

We are here to see your business succeed…