Deputy Minister of Shipping Vassilis Demetriades said that Cyprus` supply chain will not be significantly affected by the war in Ukraine and that for the time being the situation is manageable.
In statements in Paphos Friday, Demetriades said that the problems in the supply chain, which existed since the time of the pandemic, have worsened cumulatively due to the war, prices have risen due to the increase in tanker freight rates, “so inevitably some prices and some costs will be passed on to consumers”.
Asked about the increases in various products and whether they are proportional to the increase in freight rates, the Deputy Minister of Shipping replied in the affirmative, noting that there is a big increase in tanker fares.
Source: Cyprus News Agency