As a rule, we generally stay away from politics in our newsletter, however, there are a couple of geo-political events that have disrupted people’s supply chains.
First was Russia’s retaliatory ban of US, Canada, Australia and EU shipments of agricultural products into Russia. These countries placed economic sanctions on Russia after their annexation of Crimea. The ban will be in place for one year and is wide-reaching. The chart above demonstrates the economic impact of these sanctions not just on the industries and countries affected but the Russian people as well.
Second was the Israeli-Palestinian conflict and the ensuing port protests on the West Coast. In an effort to draw attention to plight of the Palestinians in Gaza, supporters protested the arrival of an Israeli-owned Zim vessel in Oakland. The protests closed vessel and terminal operations for three days at SSA before the vessel changed terminals in Oakland, discharged cargo and finally departed. Similar protests occurred in Tacoma and Seattle but with limited to no impact on operations.