IMABARI, Japan—The Japanese shipbuilding group that just extracted itself from a sticky situation in the Suez Canal still has to navigate the receding tides of an industry in long-term decline.
Imabari Shipbuilding Co., whose roots date back more than a century in this small Japanese city, built the giant Ever Given container ship three years ago, and an affiliated company, Shoei Kisen, owns the ship. The group’s first order of business will be sorting out insurance claims after the Ever Given spent six daysShoei Kisen said policies with Japanese insurers covered damage to the ship, and anit has joined shields it from other claims such as those by shippers that suffered delays.
“Everything is expected to be covered by insurance,” Ryu Murakoshi, who is in charge of finance at the company, said Tuesday. “The only thing we expect to have to pay extra is an increased premium for next year.”
If America can continue American first policies , the shipping industry will continue to decline. However if taxation destroys America's ability to attract business and investment , then shipping will pick up again.
IndustryDecline - nothing could be more wrong. Indeed. Ships as we know it like cars & airplanes in their last InnovationCycle stage. JapanGov beyond others must understand that to enable disruptive innovations a criticalmass of an Industrial Base at least 25% of GDP needed.
Japan is having a lot of bad luck these days, seemingly in all avenues of business and investments. The nations Maneki-neko’s must be broken. 😢
You can have a bigger problem than blocking the Suez Canal for a week.
They need to stop.
More good news please(((