Since the Russia-Ukraine war broke out in February 2022, the global shipping industry has been impacted. There are major implications of the war on the different sectors of shipping and there may be economic and political consequences.

(a) In your opinion, determine three (3) most significant effects of the war on the shipping industry. (30 marks)

(b) Illustrate how ship management companies may use service differentiation to add value to the maritime transport system, especially amid the on-going Russia-Ukraine war. You may make reference to existing measures or come up with new measures of your own. (70 marks)