attention! Export foreign trade risk tips under the situation of Russia and Ukraine!

the situation in Russia and Ukraine affects the nerves of the global shipping industry.

With the gradual implementation of international sanctions against Russia, major shipping companies have suspended their business with Russia due to sanctions imposed by various countries.

on March 1, Maersk issued an announcement claiming that the sanctions measures of various countries have had an unpredictable impact on the flow of global supply chains, such as delays caused by customs withholding goods at trans-shipment hubs.

Maersk said that considering the stability and safety of the business, in addition to food, medical equipment and humanitarian supplies,

Maersk will suspend receiving orders to and from Russia within sea, air and intercontinental railways.

MSC announced on the same day that it will immediately suspend all orders for goods to and from Russia, including the Baltic Sea, Black Sea and Russia;

, like Maersk, there are no restrictions on food, medical equipment and humanitarian supplies.

In addition to Maersk and MSC, Hapraot and ONE have also announced the suspension of business to and from Russia;

followed closely, such as Seko logistics,Bolloré Logistics, FedEx and others to stop accepting orders from Russia and suspend business to and from Russia.

DHL issued the latest announcement, which will suspend business to and from Ukraine and Russia at the same time and require employees to stay in safe areas;

As of March 1, DSV announced the suspension of all operations to and from Ukraine and the temporary retention of shipping operations with Russia,

also claimed that some routes involving Russian airspace have been suspended, and flights need to be adjusted and have an impact on air freight.

In addition, Spain, Malaysia, Denmark, Canada and other countries have also taken measures to prohibit Russian ships from entering their ports and waterways.

the EU is also considering whether to ban Russian ships from ports.

to the current situation in Russia and Ukraine, in addition to the direct impact of sanctions and conflicts, export enterprises are advised to pay attention to the "three risks" and do a good job in the "three management":

focus on three risks:

1. Focus on industry risk characteristics

telecommunications products such as mobile phones, dealers may hedge exchange rate risks through price increases; industries such as food may be affected by price controls, and dealers may have tight local currency revenues;

is currently the peak season for the import of agricultural products from Russia and Ukraine, such as the impact of conflict on farming activities, high buyer inventories, export enterprises need to pay close attention to the follow-up industry risks.

2. Pay attention to the risk of the agent buyer.

There are a large number of agent importers in Russian trade.

, unlike downstream dealers or retailers, cannot hedge exchange rate risk by raising prices.

, given its limited financial size and capital reserves and relatively low default costs, may create greater risks.

3. Pay attention to the risk of large buyers.

large buyers are relatively resistant to risk and more willing to perform, the losses caused by the risk will be greater.

If the exporter stops supplying, the buyer may not be able to continue operations;

normal supply and significant uncertainty at the time of subsequent payments.

recommends that export enterprises communicate fully with buyers, improve trade contracts or sign supplementary agreements, and reasonably control risk exposure under the condition of sustainable operation and clear expected exchange routes.

do a good job in three management:

1. Track the logistics situation to minimize the loss.

If the goods have been exported to Ukraine, it is recommended to closely follow the flow of goods in transit, contact the carrier as far as possible to control the right of goods, and actively seek cargo disposal options.

If the buyer refuses to accept or is unable to take delivery of the goods, actively deal with the goods, as far as possible to take resale, return and other ways to reduce losses, and at the same time prompt the insured export enterprises to obtain the consent of our company before handling the goods;

2. Confirm claims in a timely manner and pay attention to the risk of foreign exchange collection.

For the buyer's received business, it is recommended that the export enterprise communicate with the buyer about the payment arrangement as soon as possible.

If the buyer has the willingness and ability to repay, it may urge the buyer to fulfill its payment obligations as soon as possible.

If the buyer indicates that it is unable to pay the purchase price on time, it shall promptly require the buyer to make a written confirmation of the debt amount and payment liability, and notify our company of risk information on time in accordance with the requirements of the insurance contract;

3. Keep necessary evidence to protect your rights and interests.

If the trading parties make changes to the contract matters such as shipping time, logistics method and payment terms after negotiation,

recommends that export enterprises retain written evidence such as faxes and mails for changes in order to effectively safeguard their legitimate rights and interests,

reminds the export enterprise to obtain the consent of our company before the relevant matters are changed according to the insurance contract.

Source: Shipping industry information