Marine Container ABS Fairly Insulated from Russia-Ukraine Conflict
Russia invaded Ukraine on February 24, 2022, and four days later the Ukraine Maritime Administration announced that all Ukrainian ports would remain closed until the end of the conflict. Russian bombs have been targeting ports in Ukraine, further disrupting trade as shipping companies have placed temporary moratoriums on passages through Black Sea Basin ports. The ongoing conflict has disrupted many markets, with the grain and energy markets being among the most heavily affected, as exports from both countries have been stressed by transportation challenges or financial issues. Nonetheless, the credit impact of the Russian invasion of Ukraine on marine container leasing asset-backed securities (ABS) is expected to be muted.
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