Shipping giant Maersk to stop deliveries to Russian ports - Capital Business
Connect with us

Hi, what are you looking for?

Shipping unit Maersk Line

Top Story

Shipping giant Maersk to stop deliveries to Russian ports

CopenhagenDenmark March 1-Danish shipping giant Maersk said Tuesday that it would stop taking new non-essential orders to and from Russia, due to sanctions imposed over Moscow’s invasion of Ukraine.

Citing the impact of sanctions, “bookings to and from Russia will be temporarily suspended, with exception of Foodstuffs, Medical and Humanitarian supplies”, Maersk said in a statement.

The Danish company, one of the world’s leading container haulers, added it would attempt to honour bookings placed prior to the sanctions.

Maersk said the suspension would “cover all Russian gateway ports until further notice”.

The company said the exceptions were to “underline” a focus on “social responsibility” and  “efforts to support the society despite all the complications and uncertainties” with current supply chains to and from Russia.

“We will keep monitoring the situation and reviewing impacts from sanctions to return our offering in Russia back to normal as soon as we are able to ensure stability and safety of our operations via Russian seaports,” the company added.

Ukrainian President Volodymyr Zelensky on Tuesday called for a ban on Russia from “all ports, all canals and all the world’s airports”.

The Danish giant, which is tied with Italy’s MSC for the world’s largest container shipping company, had already stopped all shipping to Ukraine because of the security situation.

Maersk’s announcement follows other Nordic companies limiting their operations in Russia.

On Monday, Swedish truck maker Volvo said it was stopping sales and halting production at its Kaluga plant, and telecoms giant Ericsson also said it would halt deliveries to Russian clients.

More than 350 civilians, including 14 children, have been killed during the invasion, according to Ukraine, while more than a half a million people have fled the country.

Visited 2 times, 1 visit(s) today

More on Capital Business

World

Despite the announcement, oil prices continued to hover around $100 a barrel again on Friday, while stock markets outside the US fell.

World

US Treasury Secretary Scott Bessent said it was a temporary measure to "promote stability in global energy markets" during the war. The authorisation will...

World

Millions of barrels of oil and gas are stuck near the Strait of Hormuz - a narrow Gulf chokepoint through which nearly half of...

World

 UNITED NATIONS, Sept. 29 (Xinhua) — The United Nations confirmed on Sunday that sanctions against Iran have been reactivated. Click here to connect with...

World

BRUSSELS, July 18 (Xinhua) — The European Union (EU) approved a new round of sanctions against Russia on Friday, EU High Representative for Foreign...

Lifestyle

  Click here to connect with us on WhatsApp JULY 3 – Elon Musk’s Tesla has reported a 14% decline in vehicle deliveries in...

Lifestyle

MAY 14 – President Donald Trump has said the US has “no stronger partner” than Saudi Arabia during his first major foreign trip –...

Kenya

NAIROBI, Kenya, Dec 9 – The United Kingdom has announced sanctions against Kenyan businessman Kamlesh Pattni for money laundering through gold exports from Southern...