Russell Group

Iskenderun port fire to cause trade loss of around US$680 million: Russel Group

According to Russell Group, a data and analytics company, the container fire at the Port of Iskenderun in Turkey, caused by the heavy earthquake, can generate US$680 million of trade disruption.

The analysis says the accident is projected to interrupt US$36.7 million in iron and steel exports and US$51.4 million in plastic materials imports.

The port shut operations on 6 February and remains closed until today (9 February), while several shipping lines have postponed the transportation of cargo...

https://container-news.com/iskenderun-port-fire-to-cause-trade-loss-of-around-us680-million-russel-group/

UK’s ban on Russian ships to affect US$23 billion trade

An analysis by the data and analytics company Russel Group has shown that US$23 billion (£17 billion) of annual Russian exports to the United Kingdom (UK) will be disrupted by the closure of all UK ports to Russian ships.

The analysis indicates that out of the total amount of US$23 billion in Russia-UK trade, US$18.6 billion (£14 billion) of them is precious stones and jewellery, and almost US$1.9 billion (£1.4 billion) is crude oil exports from Russia.

The analysis comes as the transport...

https://container-news.com/uks-ban-on-russian-ships-to-affect-us23-billion-trade/

Covid-19 delays at Ningbo could disrupt US$4 billion worth of trade, says Russell’s analysis

The risk modelling company Russell Group has conducted an analysis indicating that a week’s delay of essential trade at Ningbo could impact US$4 billion worth of trade, including the exporting of US$236 million of integrated circuit boards and US$125 million of clothing.

The analysis was based on a week’s worth of trade from the port of Ningbo from 1 to 8 January, the time frame based on the imposing of the restrictions in Ningbo, caused by a rise in Covid-19 cases.

Entry in and out of the port...

https://container-news.com/covid-19-delays-at-ningbo-could-disrupt-us4-billion-worth-of-trade-says-russells-analysis/

Felixstowe port delays could impact US$2 billion of imports

Just under US$2 billion of UK trade imports will be impacted in the run-up to Christmas if the current ports delays at Felixstowe continue into December according to an analysis by Russell Group, a risk modelling company.

Clothing would be the largest commodity to be impacted by the delays, with operators said to be diverting big cargo ships away from the UK due to a backlog of arrivals piling up at ports.

It comes amid a backlog at Felixstowe, which handles 36% of the UK’s containerised freight,...

https://container-news.com/felixstowe-port-delays-could-impact-us2-billion-of-imports/

Chinese power cuts may disturb US$120 billion of trade flows

The current Chinese power shortages that have gripped the country could see US$120 billion of trade flows delayed, according to the risk modelling company, Russell Group.

Some of China’s key ports, including Ningbo, Guangzhou, Yantian and Shekou, are located within the affected provinces, while Shanghai and Ningbo also process many of the container exports from the Jiangsu province.

ICB’s (Integrated Circuit Boards) were the most impacted commodity at US$1.5 billion which will affect suppliers...

https://container-news.com/chinese-power-cuts-may-disturb-us120-billion-of-trade-flows/

Typhoon Chanthu could disrupt US$14 billion worth of trade

The recent closure of Shanghai and Ningbo ports due to Typhoon Chanthu may create delays that disrupt more than US$14 billion of trade flows, according to scenario analysis conducted by Russell Group, a risk modelling company.

Further analysis shows that the commodities of clothing (US$331 million is exported from Shanghai) and computers / office equipment (US$361 million) will face severe disruption and could affect the availability of key clothing items or electronic goods in the run-up to the...

https://container-news.com/typhoon-chanthu-could-disrupt-us14-billion-worth-of-trade/

Billions of dollars of UK trade exposed to port disruption, warns consultancy

Billions of dollars of UK trade exposed to port disruption, warns consultancy

Russell Group CEO Suki Basi

Leading companies including BP, Royal Dutch Shell, Tesco and BAE Systems face significant financial exposure from the current port disruption at Southampton, according to analysis by insurance industry and risk consultancy Russell Group.

As a result, Britain’s economy could suffer a “severe hit” if the current disruption at Britain’s busiest port continues, the consultancy said in a statement.

R...

https://allaboutshipping.co.uk/2020/12/11/billions-of-dollars-of-uk-trade-exposed-to-port-disruption-warns-consultancy/

Do insurers and corporates need a connected view of the world of risk?

Suki Basi

Do insurers and corporates need a connected view of the world of risk?

Suki Basi, managing director of Russell Group*, highlights in this article the lack of corporate risk coverage

There is a growing divergence between corporates’ risk requirements and insurers’ appetite to cover them. This problem has been exacerbated by the fact that only 20% of corporate risk is currently insured.

Alongside this lack of risk coverage, there is a failure to understand the interconnectivity and...

https://www.allaboutshipping.co.uk/2020/06/04/do-insurers-and-corporates-need-a-connected-view-of-the-world-of-risk/