Japan's top container shipper halts new bookings to Russia
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Loading... - Bojing Liu
- 18 Mar 2022
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TOKYO -- Japan's Ocean Network Express Holdings has stopped accepting reservations for new maritime container shipments to Vladivostok, essentially hitting pause on all service to and from Russia, Nikkei has learned.
Ocean Network Express -- owned jointly by Japanese shippers Nippon Yusen, Kawasaki Kisen and Mitsui O.S.K. Lines -- is the country's largest container ship operator.
ONE ceased bookings to St. Petersburg and other key Russian ports at the end of February following Moscow's invasion of Ukraine, but had continued to accept reservations for shipments mainly from Japan to the far eastern city of Vladivostok via Busan in South Korea.
The company suspends any new bookings on this route as of next week, except for medical cargo. Vladivostok apparently accounted for around 20% of ONE's shipments to Russia.
Demand for shipments to Russia has plunged amid economic sanctions against the country. The decisions by Toyota Motor and Nissan Motor to suspend production there dealt a major blow to freight shipments from Japan, nearly 50% of which are believed to be auto parts.
Major European shippers, including Swiss-based Mediterranean Shipping, have suspended service to Russia. Only local companies are still taking shipments to Russia, as well as South Korean players with routes to Vladivostok. Read More...
