News / Party is over for opportunistic Russia-focused carriers as rates sink

The party is over for operators focusing on Russian routes: rates have halved from their peak as more opportunistic newcomers jumped into the fray, increasing shipping capacity in the space.

Information from South Korean liner operators indicates that Busan-Russian Far East rates now range between $1,200 and $2,300 per teu, down from a high of $5,700/teu in March 2022, the month after Russia invaded Ukraine.

International sanctions forced many mainline operators to suspend services to Russia, creating a vacuum that was filled ...