- Shanghai Aims to Become a Digital, Intelligent, and Green Shipping Hub.
- Blockchain and Digital Platforms Revolutionize Shanghai’s Shipping Operations.
- China’s First Shipping Futures Product Launched in Shanghai.
Shanghai, one of the major business centres in China, is advancing efforts to transform into a global leader in digital, intelligent, and sustainable shipping. The city is rapidly becoming a focal point for high-quality shipping resources, including R&D, manufacturing, green energy, and smart systems, all geared toward establishing Shanghai as a high-end shipping services hub with enhanced global distribution capabilities, reports PR Newswire.
Record-Breaking Container Throughput
In 2023, Shanghai Port achieved a record-breaking container throughput of nearly 49.16 million TEUs, marking the 14th consecutive year as the world’s busiest port in terms of volume. This achievement secured Shanghai’s position as the third most influential international shipping centre globally, further attracting logistics and finance-driven innovations to the city.
Launch of China’s First Shipping Futures Product
To support the growing logistics sector, Shanghai introduced China’s first shipping futures product—the containerized freight index (Europe service) futures—launched in 2023. This financial product has become a critical tool for managing global shipping market risks, enabling stakeholders to hedge against price volatility in international freight services.
Pioneering Digital Shipping Platforms
Shanghai has rolled out 1.0 of its international container transport online service platform in a push to digitalize shipping. The city also started a blockchain-based electronic release platform for goods. This processed 356,400 bills of lading last year 21% year-on-year increase. These steps confirm that Shanghai is digitizing and making shipping easier.
Future Plans
Shanghai continues to strengthen its own shipping capacity. China’s Ministry of Transport agreed in October to new deals with the Shanghai municipality to expand the city’s role in global trading ports. ‘The Development pace of our smart and green port is accelerating, head of the Shanghai Municipal Transportation Commission, Yu Fulin said.’High-end and international services will thus be the focus.’.
Green Shipping Corridors
On October 22, Shanghai Port and the Port of Hamburg signed a MOU to form a green shipping corridor. Furthermore, Shanghai is developing trans-Pacific green shipping corridors between its ports and Los Angeles and Long Beach. The green transformation needs to be global, said Jens Meier, CEO of Hamburg Port Authority. These corridors invite broader participation in global carbon-reduction efforts.
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Source: PR Newswire
