Worse than SWIFT: 2 shipping monopolies stop delivering containers to Russia

[Yorkie Mom]

This is significant because Maersk and MSC dominate global commerce at sea. Yesterday both of them stopped delivering containers to Russia

Link to tweet

Worse than SWIFT

Yesterday, Maersk and MSC stopped delivering their containers to Russia. These are two monopolists in this field, what does that mean?
Nothing is delivered by sea and nothing goes by sea. Apart from the covers, oil and gas equipment, combines, products, 1/2

2/2 electronics and spare parts are not delivered. Even if you have your own production, you still need to deliver some spare parts - it is not. Imports and exports are completely stopped and it's worse than disabling SWIFT.

[lagomorph777]

1. Of course, it's just smart business, but a great move, nonetheless.

Who would deliver to a guy who can't pay the bills?

[Chainfire]

3. Or are willing to pay the bills with Monopoly money.

[Obvious85]

4. It's 3 Shipping companies

France's CMA CGM, the world's third-biggest container line, later on Tuesday announced it had suspended all bookings to and from Russia until further notice, citing safety concerns.

https://www.reuters.com/business/worlds-biggest-container-lines-suspend-shipping-russia-2022-03-01/?taid=621e93e43cade00001019d0a&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter&utm_source=reddit.com

[lagomorph777]

6. Excellent.

[Yorkie Mom]

2. Also, see this thread.

https://www.democraticunderground.com/100216434206

[TeamProg]

5. Thanks for posting. n/t

[honest.abe]

7. Yes this is significant.

This will have major impact on various aspects of Russian economy and the military.

[PatSeg]

8. Oh ouch!

That's going to piss off Putin!

[NHvet]

9. Great news

Add that the Air shipping giants (UPS, FEDEX, DHL) all stopped operations in and out of Russia. Ruble is now rubble, the shelves will be bare soon, all civilized countries will view them as pariahs.

[Pepsidog]

10. So I have read that Putin has been preparing for the invasion for years. By the looks of

things he may not be a “details” guy. Could he have been prepared down to having replacement parts stocked away? Or is he like old Rummy- “you go to war with the army you have”. Something like that he said when the sent troops to Iraq for a war expected to last 4-6 weeks and without the proper equipment like reinforced troop vehicles and soldiers rummaging through the scrap yard for steel to retrofit their vehicles.

[BComplex]

11. It's kind of scary to think that monopolies determine the world's deliveries.

Is that a supply stoppage waiting to happen if someone turns Karen all of a sudden?

[crickets]

12. It's definitely something to think about. nt