Bulk

Lauritzen Bulkers refuses Russian customers – but fears counterclaims

Lauritzen Bulkers has rejected Russian customers due to the sanctions against Russia following the invasion of Ukraine. But countries assess sanctions differently, and as such, the Danish dry bulk operator fears counterclaims, says CEO to ShippingWatch.
"If we refuse to do a sailing because we believe the company is sanctioned, then we may face massive claims if it later turns out that the company actually isn’t,” says Niels Josefsen, CEO of Lauritzen Bulkers.. | Photo: Carsten Lundager/Lauritzen Bulkers
"If we refuse to do a sailing because we believe the company is sanctioned, then we may face massive claims if it later turns out that the company actually isn’t,” says Niels Josefsen, CEO of Lauritzen Bulkers.. | Photo: Carsten Lundager/Lauritzen Bulkers
by DAG HOLMSTAD

The wide-ranging sanctions which have been directed against Russian companies and business people due to the invasion of Ukraine may become costly to shipping firms, even if they attempt to live up to regulations.

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