Global supply crisis reflected in shipping rates volatility
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The pandemic and now the war in Ukraine have wrought havoc in supply chains. And it is not just the shutdown of Chinese ports due to that country’s zero Covid-case policy.
Experts point out that 90 percent of global trade is done through shipping and shipping rates are even more volatile than stock markets. Furthermore, ships cannot have flexible responses to the ups and downs in demand caused by extraordinary circumstances, such as war.
Greek shipowners, who control of the world’s largest fleet, have especially felt the effects of the supply crisis; they have also come under fire for being major players in the export of Russian oil.
