09:24That is an impact that we will not be able to address because you need shipping to actually carry those
09:32cargoes in bulk.
09:33And this is why the sooner that this conflict comes to an end, the quicker that step by step shipping
09:41will resume normal operations and the economy will start easing on all this negative pressure.
09:47We also know, and to close, I want to ask you about how this has also resulted in a soaring
09:55freight rate, also soaring insurance premiums.
09:59Does this risk then having a knock-on effect that will also affect consumers in terms of pricing?
10:05Definitely. The moment that you affect freight in the operations of ships, the moment that that becomes more expensive,
10:13but it's more restrictive because not all the goods can actually be provided, then there's a knock-off effect into
10:20the global economy.
10:21And that will be passed down to consumers.
10:23And in terms then of the shipping companies, is this a golden opportunity for them? Will they end up profiting?
10:28Not necessarily. And I don't think that it's appropriate to actually look at it in that perspective because this is
10:34not something that the shipping companies are calling for.
10:36They're also being affected because, of course, there's an increase on the operational costs of the ships.
10:43Fuel goes up. That is the main cost of the operations of the ships. Immediately, everything else will go up.
10:51How hopeful are you to close that we can go back to the pre-conflict status quo, as I mentioned
10:57earlier?
10:57Is that possible or do you think that this conflict has already disrupted that status quo and that a return
11:05will not be possible?
11:06I'm optimistic, of course, that we're actually going to resume and go back to the days where we were before
11:13the conflict.
11:14And I continue to call on the relevant parties to, of course, bring those dialogues that will address the root
11:21causes.
11:22The reason why I am optimistic is because we are all acknowledging and recognizing and living through the negative impacts
11:29from this conflict.
11:31And this is one of the key messages that we all need to work together to demonstrate that the moment
11:38that these kind of situations takes place, like shipping be used as collateral, we're all going to have the negative
11:44effects.
11:45So it is our voices that are also going to make us be positive and allow that these kind of
11:50situations don't repeat again.
11:52OK, Secretary General, thank you so much for your time.
11:54Thank you.
11:55Thank you.
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