Shanghai ranked third among international shipping centers this year, just behind Singapore and London, according to a report released during the China Maritime Forum 2020 held on Saturday.
The Shanghai forum, themed “Work Together to Facilitate the Flow of Goods,” aimed to safeguard the international logistics supply chain system and sought ideas for the sustainable growth of the world economy amid the coronavirus pandemic.
Saturday, July 11, is also the 16th Maritime Day of China.
It is the first time Shanghai has been among the top three, followed by Hong Kong, Dubai, Rotterdam, Hamburg, Athens, New York-New Jersey and Tokyo.
The index, published annually since 2014, is jointly compiled by Xinhua Index Department of CEIS and the Baltic Exchange to study the development of global key shipping centers. It comprehensively evaluates port conditions, shipping services and the comprehensive environments of different regions.
It shows that Shanghai has made major breakthroughs in shipping facilities and the integration of supply chain and high-end shipping services.
According to data, the container throughput of Shanghai Port has topped the world for 10 consecutive years. Wusongkou International Cruise Liner Terminal has become the largest of its kind in Asia.
Major ship management organizations, liner companies and nearly half of the world’s biggest 100 container companies have set up branches in Shanghai.
Shanghai’s total marine and freight insurance business has also surpassed Hong Kong for the first time, accounting for nearly a quarter of the country’s total.
“This year, Shanghai has basically achieved the goal of becoming an international shipping center,” said Cai Jun of Shanghai Transportation Commission during a press conference. “In the new phase, we will focus on enhancing our competitiveness through better innovation and cooperation.”
Officials and experts from international maritime institutions and transportation departments were invited to discuss the new dynamic of international shipping industry and logistics supply chains.
Liu Xiaoming, deputy minister of transportation, said that the pandemic is testing the global supply chain, and all sectors must work together to maintain stability.
He raised suggestions including building an enhanced logistics supply chain system, providing better shipping services and promoting the safe and green development of shipping industry.
According to Xu Lirong, chairman of China COSCO Shipping Group, among the major container shipping markets in 2020, the demand for routes in Asia had the smallest decline of 4.7 percent. This is half of the overall market decline.
“Deglobalization and trade protection will have an impact on traditional routes, customers and capacity layout, thus the development of new markets is a key move for a post-pandemic world,” Xu said.
Yu Shicheng, director of the Shanghai International Shipping Institute, said that more needs to be done in terms of marine engineering and legal environment.
“With a glorious shipping history of over 200 years, London is the leader in maritime law, arbitration and judicial services. Compared with it, Shanghai still has a long way to catch up and make a solid legal impact in the world,” Yu said.
Currently, the Shanghai Maritime Court and the maritime arbitration service organization are jointly working on a service base for international maritime justice to further improve the legal environment.