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Russia Sanctions, China Lockdown To Pinch Globally With Higher Freight, API Costs

India Better Stocked

 
• By Vibha Ravi

With the Shanghai lockdown extended, Russian vessels blacklisted and oil prices fluctuating, global freight rates are expected to increase further. Apart from a direct hit, pharma manufacturers will also feel the ripple effect as prices of raw materials like APIs increase. Scrip spoke to Indian industry to gauge the impact.

Aerial view of a container ship
Shortage Of Container Ships Expected To Have Ripple Effect On Pharma • Source: Alamy

Shanghai, the city with the busiest container port in the world, has announced an extension of a COVID-19 led lockdown. Meanwhile, the Ukraine crisis continues and Russia is expected to face additional sanctions, at least for now.

In today’s connected world, the repercussions of such geopolitical developments are not constrained to those directly affected, as pharmaceutical manufacturers painfully discovered during the first lockdown in Wuhan and other...

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