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Important price information for our customers

The ongoing war in Ukraine has created major challenges for producers all over the world. Otto Olsen receive information daily about circumstances that might affect delivery capabilities and price levels in the weeks and months to come.  


LACK OF RAW MATERIALS

Some important raw material ingredients, like nickel, are being produced in the areas of war activities today and this might lead to future delivery issues of steel products.  

Rubber and plastic products are also hit by limitations because of current world geopolitical activities.  

Almost without exceptions we receive price adjustments from our suppliers on a daily basis. Prices are increasing and often can not be confirmed before actual delivery.  


ENERGY

The current conflict has led to even higher energy costs than before. This is not expected to change in the foreseeable future.  


TRANSPORT

Increasing energy cost and the lack of shipping containers lead to higher transportation costs. This lack of capacity force a further increase of shipping prices. 

 

Otto Olsen are doing everything in our power to keep customer expectations on deliveries, but at the same time we need to introduce the necessary measures to stay a reliable supplier in the future. We want to be a transparent and honest partner to our customers.  

All of the above force us to declare Force Majeure. Future market conditions are very uncertain and we are constantly working to secure delivery of our customers' products.    

Prices are continously monitored and we can not guarantee against rapid changes from one order to the next. Based on the above reasons we reserve the right to change prices on short notice. The same applies for delivery information. At the moment we feel confident regarding delivery times, but the situation can change quickly.  

We are monitoring the situation at all times and we will take measures for the benefit of our customers.  

 

Please get in touch with your contact at Otto Olsen if you have further questions.     

 
Best regards,

Michael Mørum
Sales Manager
Otto Olsen AS

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