The head of one of Asia’s biggest ocean shipping companies has warned that governments may need to intervene to “restore order” to a global logistics market tormented by chronic delays, supply chain disruption and record container rates.
In an interview with the Financial Times, Takeshi Hashimoto, president of Mitsui OSK Lines, which is part of Ocean Network Express, one of the world’s biggest shipping alliances, said that the industry had miscalculated how long the disorder of the coronavirus pandemic would last.
While some shipping companies had predicted normalisation early next year after the initial shock of the crisis, Mitsui has recently extended its forecast to the end of 2022.
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