On October 22, the 2024 North Bund Forum was officially inaugurated at the Grand Halls in Shanghai. Chairman of COSCO SHIPPING Mr. Wan Min, Director and President of COSCO SHIPPING Mr. Zhu Bixin, and Executive Vice President of COSCO SHIPPING Mr. Zhang Yong were specially invited to grace the opening ceremony.

During the ceremony’s results release session, the building of a green shipping corridor between Shanghai Port and the Port of Hamburg was announced. Mr. Zhu Bixin, on behalf of COSCO SHIPPING, co-launched the declaration with the Shanghai Municipal Transportation Commission, the Hamburg Port Authority, and the Shanghai International Port.

COSCO SHIPPING unveiled its core product for the digital supply chain—the Supply Chain Control Tower. This innovative platform, developed by COSCO SHIPPING Holdings, represents a major stride forward for COSCO SHIPPING in propelling the digital transformation and enhancement of the shipping sector. It significantly elevates supply chain management efficiency and is set to catalyze the logistics business chain’s rapid ascent up the value chain.

Under the theme “Digital, Smart and Green: Co-creating a New Ecosystem of Global Shipping and Aviation”, the forum is structured around the opening ceremony, two main forums, and five specialized thematic sessions. In an event held in the Star Room of the Grand Hall on the afternoon of October 22, COSCO SHIPPING collaborated with SIPG to present one of the main forums, the 2024 North Bund International Shipping Forum.

With the theme “Coping with Uncertainties through High-Quality Development of the Shipping Industry,” the 2024 North Bund International Shipping Forum took place, marking its upgrade from a sideline session to a main forum. Employing a hybrid model of offline and online formats, the forum convened an esteemed assembly of international industry representatives. Stakeholders from various areas of the shipping industry converged to exchange insights and pool their wisdom on forging a path towards high-quality development of the shipping industry. This collaborative effort aims to introduce greater certainty into the global economy and trade dynamics.

In the keynote speech session, distinguished figures including Mr. Fu Xuyin, Vice Minister of the Ministry of Transport; Mr. Zhang Xiaohong, Vice Mayor of Shanghai; Mr. Wan Min, Chairman of COSCO SHIPPING; Mr. Zhang Baojiang, President of the Bank of Communications; Mr. Gu Jinshan, Chairman of Shanghai International Port (Group) Co., Ltd.; and Mr. David Loosley, Secretary General and CEO of BIMCO, delivered important speeches.

Mr. Wan Min delivered a speech titled “Coping with Uncertainties through High-Quality Development of the Shipping Industry – Co-building an Efficient, Resilient, and Safe Global Supply Chain.” In his keynote address, he noted that since 2020, the international shipping market has undergone profound changes, and the industry is entering a new era of transformation and growth. To navigate uncertainty, it is essential not only to analyze and assess the trends and risks of the macro environment but also to proactively embrace change. By focusing on our own high-quality development, we can address external uncertainties, ensure the stability of the global supply chain, and become a force of stability and certainty in the global economy and trade. The emphasis should be on the “five news”: First, a new model, which involves integrating “shipping + ports + logistics” and systematically leveraging superior resources throughout the chain to achieve a high-level integration of the industrial and supply chains and a high level of openness; second, new technologies, which means combining artificial intelligence and big data with shipping and logistics to accelerate collaborative innovation and practical applications; third, a new trajectory, which involves actively investing in digital transformation and green, low-carbon shipping to explore new avenues for high-quality development and new competitive focal points; fourth, a new framework, which means the establishment of a front, middle, and back office structure through continuous digital transformation that aligns with the digital supply chain business, the creation of standardized end-to-end products, supply chain solutions, and customized services, and the continuous improvement of supply chain resilience and risk mitigation; and fifth, new regulations, which means to further accelerate the decarbonization process of the shipping industry and promote the green transformation of shipping in line with the objectives, laws, and regulations of the IMO and the European Union. 

He also highlighted COSCO SHIPPING’s explorations and achievements in these areas over the recent years. He stated that as a member of the shipping ecosystem, COSCO SHIPPING will collaborate with partners from various sectors to promote the digital, intelligent, and green transformation of the global shipping industry. By coping with uncertainties through high-quality shipping development, we aim to build a safe, resilient, efficient, open, inclusive, and mutually beneficial global supply chain system. This will inject new vitality into the sustainable growth of global trade, contribute fresh strength to the prosperity and development of the global economy, and contribute strength to the high-quality development of Shanghai International Shipping Center.

During the trend outlook session, esteemed speakers provided forward-looking insights and judgments on various topics. These included Mr. Peng Wensheng, Chief Economist and Head of the Research Department of China International Capital Corporation Limited (CICC) as well as Dean of the CICC Global Institute; Mr. Robin Xu, Managing Director at UBSS Securities; Mr. Stephen Gordon, Managing Director and Global Head of Clarkson Research Service; Mr. Tim Power, Managing Director of Drewry; Mr. Huang Zhen, Academician of the Chinese Academy of Engineering and Chair Professor of Shanghai Jiao Tong University; Mr. Wu Kang, Global Head of Oil Demand Research of S&P Global Commodity Insights; and Mr. Shan Hongjun, President of Dalian Maritime University. They discussed a range of subjects such as China’s economic and trade development, the state of world trade, global maritime trade, key indicators of international shipping, trends in new energy development, the oil market, and the progression of international maritime conventions.

During the industry release session, Executive Vice President of COSCO SHIPPING Mr. Zhang Feng unveiled the “Intelligent Research and Training Dual-purpose Ship” project. Additionally, the Administrative Committee of the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone and SIPG entered into a Memorandum of Understanding (MoU) concerning the Smart Remote Control Lingang Center of SIPG.

In his presentation on the “Intelligent Research and Training Dual-purpose Ship” project, Zhang emphasized that the cornerstone of building intelligent shipping lies in the development of intelligent ships. He described the dual-purpose ship as a research platform dedicated to the study and application of green intelligent ship technology, as well as a training ground for fostering talent in the emerging field of intelligent shipping. This vessel, he stated, will play a crucial role in the nation’s pursuit of fundamental, cutting-edge, and key technological research in intelligent shipping. The technological advancements derived from this intelligent research and training ship can facilitate the realization of onshore work scenarios for crew members and the integration of ship and shore control systems, thereby enhancing the safety, efficiency, and environmental friendliness of navigation. Furthermore, these developments are expected to propel the upgrade and transformation of port operations, maritime safety, supervision, and shipping services, underpinning the high-quality growth of the shipping industry.

In the panel discussion session, centered on the theme “Joint Response—Integration, Connection and Empowerment,” prominent figures from across the industry chain shared their insights and engaged in lively discussions. Mr. Bo Wegener, CEO of CMA CGM Group APAC; Mr. Yan Xinping, Academician of the Chinese Academy of Engineering and Professor of Wuhan University of Technology; Mr. Well Lyu, Vice President and General Manager of the Supply Chain and Quality Security Center, TCL Industries Holdings Co., Ltd.; Mr. Amir Maghami, CEO of Safeen Shipping, Abu Dhabi Ports Group; Mr. Chu Beiping, President of Shanghai Maritime University; and Mr. Zhang Jingyou, Head of Baltic Exchange Asia offered their perspectives on constructing a secure, stable, smooth, and efficient global supply chain system that is open, inclusive, mutually beneficial, and conducive to win-win outcomes. Their exchanges generated a wealth of insights and provided the participants with valuable inspiration.