On June 28, the 2024 International Shipping Service and the 40th Anniversary of China's Shipowners' Mutual Insurance Industry Forum with the theme of "Accumulating Factor Fusion and Serving the High-end of Shipping" was successfully held on the North Bund in Shanghai. The forum was hosted by China Shipowners P&I Association (CSIC), with nearly 400 guests from relevant domestic and foreign authorities, international and domestic industry organizations, global shipping, ports, cargo owners, finance, insurance, brokerage, law, arbitration, classification societies, shipping technology, maritime services, universities, research institutions and other relevant parties. Fu Xuyin, Vice Minister of the Ministry of Transport, Zhang Xiaohong, Vice Mayor of Shanghai, Wang Bingnan, Deputy Director of the Foreign Affairs Committee of the National Committee of the Chinese People's Political Consultative Conference and former Vice Minister of the Ministry of Commerce, Andrew Cutler, Chairman of International P&I Group (IG), and Wan Min, Chairman of China COSCO Shipping Group, attended and delivered speeches. Xu Lirong, Chairman of China Shipowners P&I Association, attended and delivered a keynote speech.
Fu Xuyin, Vice Minister of the Ministry of Transport, pointed out in his speech that he will continue to uphold the development concept of openness, inclusiveness and win-win cooperation, conform to the new trend of green, low-carbon and intelligent shipping industry, work hand in hand with international and domestic and all sectors of society to pioneer and innovate, promote the modern shipping service industry to a new level, promote the high-quality development of the shipping industry to create a new situation, and make greater contributions to maintaining the security and stability of the industrial chain and supply chain and the prosperity of global trade. He said that he will continue to support the China Shipowners P&I Association to accelerate its development in the direction of specialization, marketization, internationalization and digitalization, provide better services for the majority of shipping enterprises, and escort shipping safety.
Zhang Xiaohong, Vice Mayor of Shanghai, said in his speech that Shanghai's status as a shipping hub has been increasingly consolidated, shipping resources have been continuously gathered, shipping services have been continuously improved, the digital and intelligent green transformation of the shipping field has been accelerated, and the mutual insurance business of Chinese shipowners and Shanghai's shipping industry have promoted each other and developed together. Shanghai will give full play to the advantages of shipping factor agglomeration and enhance the level of high-end shipping services; give full play to the role of scientific and technological innovation as a source to promote the transformation and upgrading of shipping services; Optimize the business environment in the shipping sector and promote the international influence of shipping services.
Wang Bingnan, Deputy Director of the Foreign Affairs Committee of the National Committee of the Chinese People's Political Consultative Conference and former Vice Minister of the Ministry of Commerce, pointed out in his speech that it is necessary to adhere to the theme of high-quality development and promote the leapfrog transformation of the shipping industry from large to strong. It is necessary to benchmark international high-standard economic and trade rules, give full play to the role of open platforms such as pilot free trade zones, and promote institutional opening and in-depth reform of trade and shipping. It is necessary to build the Belt and Road Initiative with high quality, implement high-level opening-up, build the "Invest in China" brand, share the dividends of China's development, and promote the common development of the global economy.
Andrew Cutler, Chairman of P&I Group, said in his speech that P&I Group and CSSC and other P&I insurance institutions provide vital guarantees for the smooth operation of global trade. The P&I industry must evolve in tandem with the shipping industry, adapt to the changing environment, and protect the interests of members to ensure the stability of global supply chains. We look forward to deepening cooperation with CSSC and jointly exploring the cooperation model that best meets the interests of the development of the shipping industry.
Wan Min, Chairman of China COSCO Shipping Group, pointed out in his speech that COSCO SHIPPING and CSSC have gone hand in hand and witnessed the leapfrog development of China's shipowners' mutual insurance business. Digital intelligence, full-link, and greening have profoundly changed the mode of shipping operations, services, and development. For insurance, it is imperative to transform, adapt, and break through. By accurately grasping the new variables, shipping and insurance will usher in a situation of mutual promotion and coordinated development, providing more powerful support for the stability, efficiency and safety of the global industrial and supply chains.
The 40th anniversary ceremony of China's shipowners' mutual insurance business was held at the event. The guests of speech were Huang Zhendong, former Minister of Communications, Miao Jianmin, Chairman of China Merchants Group and Chairman of China Merchants Bank, Lu Jun, Chairman of COFCO, Xu Lirong, Chairman of CSSCIC, Ren Deqi, Chairman of Bank of Communications, Wang Zhiqing, Chairman of China Eastern Airlines Group, Wang Haimin, Chairman of China Tourism Group, He Dongfeng, Chairman of Commercial Aircraft Corporation of China, Nick Shaw, CEO of International P&I Group, Chen Zhongbiao, the first Chairman of CSSC and former Chairman of COSCO Group. Zhang Songsheng, Chairman of PIL, Wang Weiren, Deputy Secretary-General of Shanghai Municipal People's Government, Yu Fulin, Director of Shanghai Municipal Transportation Commission, and Lu Ming, Mayor of Hongkou District, Shanghai, took the stage to commemorate the commemoration and wish that China's shipowners' mutual insurance business will set sail at a new starting point and jointly shape a better future for global industry cooperation.
Xu Lirong, Chairman of China Shipowners P&I Association, delivered a keynote speech at the forum. He pointed out that CSSC has become an indispensable and important element in the development of China's shipping industry, and its international counterparts have both healthy competition and multi-party cooperation, thanks to this healthy two-way relationship, I believe that it will create a "win-win" market pattern. P&I Clubs will be committed to giving full play to their professional advantages and acting as an effective "linker"; Focus on the globalization strategy and create an open "international window". Through the customization of service products and the industrialization of technology applications, the high-end is reflected and the energy level of shipping elements is promoted.
During the forum, Miao Jianmin, Chairman of China Merchants Group, Nick Shaw, CEO of International P&I Group, Ren Deqi, Chairman of Bank of Communications, Lv Jun, Chairman of COFCO, John McDonald, President and Chief Operating Officer of American Bureau of Shipping (ABS), Zhou Yanli, former Vice Chairman of China Insurance Regulatory Commission, Jonathan Andrews, CEO of British Steamship P&I Club, Xie Qunwei, Director of Shanghai Maritime Safety Bureau, Oli Beavon, Managing Director of the International Tanker Owners Pollution Prevention Federation (ITOPF), Gu Jinshan, Chairman of Shanghai International Port Group, Simon Bennett, Deputy Secretary-General of the International Chamber of Shipping (ICS), Alistair Rivers, President of Global Maritime and Transportation Business of Lockton Insurance Brokers, and Tim Bauer, Managing Director of Drewry Power) delivered keynote speeches.
In the innovation-driven session of the roundtable interview, the forum invited Zhang Songsheng, Executive Chairman of Singapore Pacific Shipping Group, Ye Chengzhi, Managing Director of Hutchison Ports Group, Lin Ji, Deputy General Manager of China COSCO Shipping Group, Chen Bing, Chairman, President and CEO of Seaspan, Adeline Franger Chouraqui, General Manager of CMA CGM China, and Li Zhiwei, President of PSA China. Huang Jin, Senior Vice President of Det Norske Veritas (DNV) Group, discussed the reshaping of the shipping industry by new trends in technology and rules, focusing on industry hotspots such as green and low-carbon, digital and intelligent, and shared the practical experience of shipping and port enterprises. The session was moderated by Alexia Inglessis, Director and CEO of Alberta Ship Management, Greece.
In the roundtable interviews, the forum invited Feng Boming, Deputy General Manager of China Merchants Group, Li Hu, Deputy Director of China Maritime Arbitration Commission, Yu Shicheng, former President of Shanghai Maritime University, Thomas Wiker, President of Gallagher Maritime Systems, Clive Aston, former President of the London Maritime Arbitrators Association, and Paul Aston, Partner and Head of Global Shipping Practice at HFW. Paul Dean discussed how legal and arbitration services can promote the high-quality development of the shipping industry, how to further optimize the dispute resolution mechanism, and improve the ability of shipping companies to prevent and resolve risks. The session was chaired by Yang Wengui, senior partner of Haitong Law Firm and PRC legal counsel of International P&I Group.
Also present at the forum were: Hong Shanxiang, former Vice Minister of the Ministry of Communications, Xu Zuyuan, Goodwill Ambassador of the International Maritime Organization and former Vice Minister of the Ministry of Transport, Gao Hongfeng, President of the China Express Association and former Vice Minister of the Ministry of Transport, He Jianzhong, Chairman of the China Institute of Navigation and former Vice Minister of the Ministry of Transport, Chen Zhongbiao, the first chairman of CSSC and former chairman of COSCO Group, Xu Wei, deputy director of the Maritime Safety Bureau of the Ministry of Transport, Gao Yingxin, chairman of China Minsheng Bank, and some vice chairmen of CSSC Baoyuan and the former COSCO Group, Former main person in charge of China Shipping Group, etc.
This forum aims to focus on the opportunities and challenges brought about by the profound changes in the global shipping industry, discuss the important role of the high-end shipping service industry in promoting the transformation and upgrading of the shipping industry and helping the development of new quality productivity in shipping, think about a new path to improve the energy level of the high-end shipping service industry, gather a strong driving force to promote the high-quality development of the industry, and contribute wisdom and strength to the high-level allocation of global resources and high-level international cooperation. The forum contributed many overall, forward-looking and targeted views, and further highlighted the valuable consensus on industry exchanges and development cooperation.
The year 2024 marks the 40th anniversary of the establishment of China Shipowners' P&I Business and China P&I Association. Shipowners' mutual insurance originated in England at the end of the 17th century. In 1855, the P&I Association was established in the United Kingdom with the main purpose of protecting shipowners' liability risks. In order to meet the needs of China's reform and opening up and the development of international trade, with the approval of the leading comrades of the State Council, on January 1, 1984, the China Shipowners Mutual Insurance Association was established in Beijing, marking the official start of China's shipowners' mutual insurance business. CSSC provides members with one-stop services such as P&I insurance, mutual ship insurance, chartering insurance, defense insurance, shipping delay insurance, etc., focusing on the innovation and upgrading of claims, loss prevention and compliance services. After 40 years of development, the total tonnage of CSSC P&I Insurance has increased from 470,000 at the beginning of its establishment to 92 million at present, with an average annual growth rate of 14.5%. In particular, since 2016, the total tonnage of P&I insurance has increased by 145.1%. For two consecutive years, it has been rated A- A.M. Best, an internationally renowned rating agency.
Source: China P&I Association Information Platform