When the Tianjin International Shipping Industry Expo 2024 opened on July 10, over 400 shipping-related enterprises, ports, and industry associations worldwide gathered in Tianjin. The event aimed to explore new opportunities for the global shipping industry.
Steve Gordon, global head of Clarkson Research Services Ltd., emphasized China's crucial role, noting that 85% of global trade is seaborne, with China leading many market sectors. Wang Shouwen, vice minister of commerce, highlighted that China's foreign trade in goods reached 17.5 trillion yuan in the first five months of 2024, up 6.3% year on year.
Despite recent global challenges, including the COVID-19 pandemic, the shipping industry's resilience was noted by experts. Joseph Edward Kramek, president and CEO designate of the World Shipping Council, discussed the need for robust and flexible solutions to navigate disruptions, including those in the Red Sea and Panama Canal. Kramek also emphasized the importance of transitioning to zero-emission fuels to combat climate change, presenting significant opportunities for innovation in green technology.
Zhen Hong, director of the Shanghai International Shipping Institute Academic Committee, called for a shift from simply increasing port throughput to fostering high-quality development of port-based economies.
The four-day event, running until July 13, serves as an international cooperation and exchange platform, guiding the shipping industry toward a sustainable future.