Governments need to address the financial crisis, say sailors

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The leader of one of Asia’s largest shipping companies has warned governments that they may need to step in to “restore order” to the global market which has been plagued by long delays, disruptions to trade and container prices.

In an interview with Financial Times, Takeshi Hashimoto, President of Mitsui OSK Lines, part of Ocean Network Express, one of the world’s largest affiliates, said the companies did not specify the length of time that confusion The coronavirus epidemic was still in its infancy.

While some shipping companies had predicted the volatility early next year after the crisis began, Mitsui expanded its vision by the end of 2022.

Opinions in retail companies post a variety of issues on whether the government should intervene, and the form it can take. Many supervisors strongly disagree with the idea, but Hashimoto said the risk of the problem means that help or other connections may be needed to address the problems of shipping.

“If left entirely to the stock market, companies and individuals who are doing everything possible to find a better solution could lead to chaos and ruin,” he said.

Hashimoto added that while it was important to respect the spirit of market and competition, at the same time, international shipping was like an industry on which the financial instruments depended.

“We need to provide a sustainable service to reach out to consumers and customers and at the end of the day, what we do affects people’s lives on a daily basis, which is why it needed to be considered,” he said.

The method of Restoration chain on their past trustworthiness, and encouraging them not to be distracted in the future, says Hashimoto, they may seek cooperation between governments and between companies.

In the U.S., Biden officials have pressed the ports of Los Angeles and Long Beach in California, the country’s largest trading port with China, to increase traffic time to pick up cargo in an effort to curb the volume of ships.

Last week, the ports announced that after negotiations with the U.S. Department of Transportation, Long Beach will try to operate 24 hours a day, while Los Angeles will extend its entry time over the weekend.

Hashimoto added that during a break with non-participating Asian historians, he planned to attend the World Economic Forum. in Davos next year in order to understand the framework that the world’s largest giants, such as Maersk and Hapag-Lloyd, they can imagine.

Hashimoto also spoke about the crisis in the real estate sector as it struggled to cope with the devastating effects of the Covid-19 crisis. restorative rules when the sweetness stabilized.

Port closure due to the explosion of new Covid models, the shortcomings and lack of drivers have contributed to the creation of a workspace. Prices container hitting hard of $ 11,109 in September, falling below $ 1,500 in the early stages of the epidemic, according to data provider Freightos.

The chain of many manufactured goods, from reclining chairs to sports consoles, has been affected by a variety of factors over the past 18 months. Global shortages of directors it was educational, says Hashimoto, as chip makers share in this amazing phenomenon that occurs at sea, while large sums of money are followed by a hard time.

Both levels require a new long-term planning strategy, he said, emphasizing reliable investment, rather than just pouring money into downtime.