#China #Shanghai #North Bund Forum #Shanghai Shipping Hub #Maritime Services

Shanghai's Road to Becoming a Maritime Power

Shanghai is undergoing a transformative phase aimed at solidifying its reputation as an international maritime center. Recent developments indicate a concerted effort to bridge the gap with established hubs like Singapore and London. With the recent opening of the North Bund Forum 2025, a gathering spot for global maritime experts, Shanghai has once again captured the spotlight due to its growing high-quality shipping services and enhanced global connections.

The North Bund area, once known for its historic docks, has undergone a remarkable transformation into a focal point for shipping enterprises, establishing a comprehensive industrial chain of high-end maritime services. By the end of 2024, over 4,600 related companies are expected to be located within the North Bund shipping service cluster.

The East Chinese metropolis has also facilitated the parallel development of ad hoc and institutional arbitration, with the launch of the North Bund International Legal Service Port in May. This initiative has led to the creation of a robust ecosystem for maritime legal services through collaboration with local maritime arbitrators to provide integrated services.

On the financial services front, the China Shipowners Mutual Assurance Association (CSA), the nation's largest mutual protection insurer, has made the North Bund its base since 2017. In the past two years, several traditional European shipping companies such as CMA CGM and Alberta Shipmanagement Ltd. have joined the CSA, indicating its growing influence in the global shipping market. Furthermore, in July, the China Classification Society announced the launch of its international ship inspection business in Shanghai.

Song Baoru, leader of the Shanghai Maritime University, remarked that during the 14th Five-Year Plan period (2021-2025), Shanghai is witnessing a transition from foundational construction to a comprehensive completion of its international shipping center development. By consolidating shipping-related financial, legal, arbitration, and other high-quality services, coupled with the establishment of innovative mechanisms, Shanghai's international maritime services are expected to improve further.

This year alone, Shanghai has formed a partnership with the French port of Haropa and deepened friendly relations with the Port of Los Angeles, accelerating collaborative engagements with global partners. Additionally, the first memorandum of understanding between the International Maritime Organization and a local government, along with the CSA's membership in the International Chamber of Shipping (ICS) and opening an ICS representation in Shanghai, all signal the strengthening ties and eco-friendly collaborations between Shanghai and the global maritime industry.

In summary, Shanghai's relentless advancements underline its aspiration to become a pivotal player in the international maritime sector. With ongoing projects and international collaborations, the city is well on its way to achieving its ambitious goals and standing alongside the world's leading shipping hubs.