Japan’s NYK CEO on Alternative Routes Amid Iran War

NYK CEO Takaya Soga says the company's energy-side business is outperforming original expectations, supporting results despite Middle East disruptions. He says NYK is avoiding unsafe Red Sea routing and using alternative routes, with customers accepting longer transit times and paying additional fuel costs. He also says tariffs are not changing customer booking behavior and that Red Sea transit remains unsafe. - NYK CEO Takaya Soga discusses Middle East chokepoint disruptions and alternative shipping routes. - Energy-side business is much better than originally expected. - NYK is avoiding Red Sea routes and moving vessels outside the affected routing. - Customers accept longer transit times and pay additional fuel costs from rerouting. - Tariffs have not changed customer booking behavior now or in the next year. - Red Sea remains unsafe with near-daily attacks on commercial vessels. - Japanese government reinsurance backstop for oil tankers lacks details.