#China #Shanghai #North Bund #Maritime Center

Shanghai's Ambitious Steps Towards Becoming a Maritime Hub

Shanghai has been steadily advancing towards its goal of becoming an international maritime center, significantly narrowing the competitive gap with major hubs such as Singapore and London. This momentum was highlighted recently at the 2025 North Bund Forum, which gathered maritime transport experts from around the world to discuss Shanghai's burgeoning maritime services and enhance its international connections.

The North Bund area, once characterized as an aging dock, is being transformed into a vibrant hub for maritime transport companies. Today, it boasts a comprehensive industrial chain dedicated to high-end maritime services. By the end of 2024, more than 4,600 maritime-related enterprises had established operations in the North Bund region. This impressive growth signifies Shanghai's commitment to enhancing its maritime sector.

In recent years, the city has promoted the parallel development of both ad hoc and institutional arbitration, with the North Bund also opening China's International Legal Services Port earlier this year. This initiative, in conjunction with local arbitration services, has birthed a robust ecosystem for maritime legal services, further reinforcing Shanghai's position in the global maritime industry.

Regarding financial services, the China Shipowners Mutual Assurance Association (CSA), which moved its headquarters to the North Bund in 2017, now stands as the largest protection and indemnity insurer in China. In the last two years, the CSA has successfully attracted several traditional European maritime operators such as CMA CGM and Alberta Shipmanagement Ltd., underscoring its growing influence in the global maritime market.

July saw further expansion of Shanghai's maritime capabilities with the announcement from a leading Chinese classification society to launch international ship inspection activities. This is part of a wider plan outlined during the 14th Five-Year Plan period (2021-2025) that aims to transition from foundational achievements to a fully realized international maritime center in Shanghai.

Additionally, the cross-sector integration of financial, legal, and arbitration services related to maritime transport, alongside the establishment of innovative mechanisms, promises continual improvements within Shanghai’s international maritime transport services. This progress was exemplified by the establishment of sister-port relations between Shanghai and Haropa in France, as well as strengthened ties with the Port of Los Angeles.

Moreover, Shanghai's maritime ambitions have been further cemented through the signing of the first memorandum of understanding between the International Maritime Organization and a local government. The CSA's recent membership in the International Chamber of Shipping (ICS) and the opening of an ICS representative office in Shanghai serve as testament to the closer connections and greener cooperation between Shanghai and the global shipping industry.

In conclusion, the North Bund's transformation from a relic of maritime history to a thriving base for shipping firms reflects Shanghai's forward-thinking strategy and ambition to take a leading role in the international maritime arena. As it continually enhances its services and connections, Shanghai is poised to redefine its status within the global maritime landscape.