Due to the situation in the Iranian port of Bandar Abbas, many containers coming to Armenia have simply been lost. Karen Ivanov, Vice President of the Chamber of Commerce and Industry of Armenia, noted this in an interview with Armenian News-NEWS.am. He added that many people petition to the Chamber with such problems.

“The problem is actually serious. We have containers that are simply lost, we don’t even know their whereabouts; there is absolutely no information. It’s a communication problem. Maybe everything is normal and the containers, for example, are in Bandar Abbas and are waiting for a calm time to reach Armenia. However, it is possible that these containers no longer exist. It is almost impossible to establish contact with Iran,” noted Ivanov.

However, according to him, the problem is not only lost cargo. Even if the goods are in place and are found later, the costs of transporting them are growing exponentially. The cost of renting ships on the international market has already increased by about 30%. The increase in logistics costs will naturally lead to inflation. However, the consumers will feel the price increase in 1-2 months, when businessmen will use up their reserves. The period of cargo transportation is quite long, and in case of a change in route it can reach up to three months.

“The logistics chains of the whole world are disrupted. It will take time before they find optimal options," Karen Ivanov added, in particular.

According to him, the guarantee of neutralizing losses is that most of the sea freight is insured. This means that in case of cargo loss, financial losses will be compensated. The main concern is the interruption of production processes due to the delay of raw materials.

Insurance can close financial gaps, but it cannot fill the empty shelves of stores or prevent the disruption of production chains. According to experts, if the situation is not resolved soon, then in 1-2 months we will face not only price increases, but also a deficit of some products.