SIMIC

Russia's assault on its neighbour, which Moscow says is a "special operation", is the biggest state-to-state invasion in Europe since World War Two, reports Reuters.

Singapore-headquartered container shipping company Ocean Network Express (ONE) said in a customer advisory: "Booking acceptance to and from St Petersburg, Russia is suspended with immediate effect until further notice whilst we evaluate the operational feasibility."

The shipping line added that it had also suspended bookings for the Russian port of Novorossiisk as well as the Ukrainian container port of Odessa. The company has confirmed that the suspension will not apply to foodstuffs or medical and humanitarian supplies.

Shipping giant AP Moller-Maersk which operates container shipping routes to St Petersburg and Kaliningrad in the Baltic Sea, Novorossiysk in the Black Sea, and Vladivostok and Vostochny on Russia's east coast, announced that all container shipping to Russia would be temporarily halted.

"As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings within ocean and inland to and from Russia will be temporarily suspended," the shipping company said in a statement.

The Danish shipping firm also owns a 31 per cent stake in Russian port operator Global Ports, which operates six terminals in Russia and two in Finland. Global Ports' shareholders also include Russian state nuclear company Rosatom and Russian businessman Sergey Shiskarev.

"With Global Ports, we are looking at how to comply with the ever-evolving sanctions and restrictions and preparing possible next steps," Maersk said.

Furthermore, Maersk said limitations to operations over Russian air space would impact its air services.

Maersk, which has been active in Russia since 1992, generated roughly 2.5 per cent of its total revenue from Russia last year.

Swiss shipping company MSC, the world's biggest container line by capacity, said in a statement: "With immediate effect, a temporary stoppage on all cargo bookings to and from Russia, covering all access areas including Baltics, Black Sea, and Far East Russia. MSC will contact customers directly, as necessary, in respect of any Russia-related cargo that is already in transit."

As with Maersk, MSC has also confirmed that it will still accept and screen essential goods, such as food and humanitarian cargo.