Asia: What's Coming in 2024
Geopolitics still dominates the risk and operations landscape, leading to a variety of unexpected and difficult consequences for companies in the region.
Zhang Yanyi: I don’t know how long the Red Sea crisis will keep freight prices rising. Will we respond through port hopping and empty flights?
ETtoday | Local Language | News | Feb. 22, 2024 | Supply Chain Issues
Zhang Yanyi, Chairman of the All-China Shipping Federation and Chairman of Evergreen Marine Shipping, spoke during a Spring Festival gathering of the maritime industry about the challenges facing the shipping industry. High freight rates due to the Red Sea crisis and the ongoing war between Russia and Ukraine are putting pressure on the global shipping industry. This, along with the push for green transportation to achieve net-zero emissions by 2050, underscores the need for resilience and flexibility in the shipping supply chain. The Ministry of Transport plans to focus on aviation safety, sustainable shipping, access to outlying islands, and marine tourism as part of its 113-year work plan. Meanwhile, various government policies have been implemented to enhance international competitiveness in the maritime industry. Additionally, the need for overall planning for railways, highways, and ports was emphasized, and suggestions were made to increase government spending on construction.