Financial institutions (FIs) such as Citibank, Barclays, Bank of America, Bank of Tokyo-Mitsubishi UFJ, Mizuho, Standard Chartered, Indian Bank and JPMorgan are likely to launch their own private sea freight companies. That should only add to the difficulties of shipping companies.But going for financial services firms means going for private sector players who don't have a national network of sea freight terminals or distribution centres. It means accepting the risk of operating more warehouses in multiple locations. The policy could also risk giving up control of the revenues.Given the current state of shipping, why does India need private freight forwarders? In January, shipping company CMA CGM entered into an agreement with the Indian government to form a joint venture company.