Russia-Ukraine crisis: Consumer durables firms in wait-and-watch mode

Freight costs had only recently started to stabilise, which were on the rise during the pandemic.

Consumer durables firms are closely monitoring the Russia-Ukraine crisis as it has already impacted the movement of vessels while commodity prices have started to escalate further.

Freight costs have gone up and there is a shortage of vessels as well. Also, the lead time is expected to go up due to fewer vessels operating during the crisis. 

“All vessels coming in and going to Europe have been impacted due to the Russia-Ukraine war and freight costs have already begun to escalate by 10-15 per cent. 

Adding to the worry is that lead time for vessels could go up to 75 days,” Avneet Singh