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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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International Shipping |
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| MOL Looks to Seize Opportunities as Trade Routes Shift Due to Tariffs |
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Date:2025-04-09 Readers:
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Mitsui O.S.K. Lines (MOL), Japan's second-largest shipping company, aims to capitalize on opportunities that emerge from a shift in trade routes driven by new U.S. tariffs, CEO Takeshi Hashimoto said.
The highest U.S. tariffs in more than a hundred years came into force on Wednesday, roiling global markets.
"Trade routes will inevitably be reshuffled," Hashimoto told Reuters in an interview on Tuesday.
"We'll likely see increased trade from low-tariff countries and declines from high-tariff ones," he said, noting some cargos could be rerouted through Mexico or Canada, where tariffs may be lower.
MOL plans to monitor shifting trade patterns and seize new opportunities, he said.
Hashimoto said U.S. energy and grain exports to Asia could be impacted, with countries like China potentially turning to Brazil or Argentina as alternative grain suppliers and to Qatar for liquefied natural gas (LNG).
MOL is considering opening an office in Washington to gather information and lobby, Hashimoto said
He said that during the first Trump administration, trade routes were also reconfigured in response to tariffs. Some Chinese exports to the U.S. were rerouted through other countries like Vietnam, while China increased grain imports from Brazil and others while cutting back U.S. purchases.
The CEO believes Trump's goal is to strike favorable trade deals, making a full-scale tariff war unlikely.
https://www.marinelink.com/news/mol-looks-seize-opportunities-trade-524473
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