China’s shipping industry grows with AI, boosts global development

The Tianjin International Shipping Industry Expo 2023 was held from Thursday to Saturday 16 Nov –18 Nov  in north China’s Tianjin Municipality to promote the development of the global shipping industry and marine economy.

Tianjin Port is the epitome of China’s shipping industry, and this dynamic sector is characterized by innovation and improved efficiency, which have helped buoy global industrial chains and promote economic growth.

Home to the world’s first smart zero-carbon terminal and a demonstration area of port autonomous driving, Tianjin Port maintains shipping trade with more than 500 ports in over 180 countries and regions, and its cargo and container throughput ranks among the global top 10.

Over 3,000 experts and industry insiders participated in this year’s expo, exchanging innovative ideas and engaging in discussions on emerging trends in diverse fields, including navigation, shipping, port and the maritime industry.

The expo was themed “shipping throughout the world, leading the future,” covering a total booth area of 50,000 square meters. It featured seven exhibition areas, including the international shipowners’ zone, smart green ports zone, and port machinery and equipment zone.

Over the past 10 years, the centers of international shipping industry have undergone significant changes, with the goods, trade and capital gradually moving eastward, said Hayao Gen, president of Fenghai Technology Consulting Services, a consulting firm for Japan Port Group.

Chinese port cities such as Shanghai, Guangzhou and Qingdao now rank among the top international shipping centers, contributing to the stability of the global supply chains, said the port construction expert.Shanghai Port has ranked first in container throughput for 13 consecutive years

Speaking at the expo via video link, Chinese Commerce Minister Wang Wentao said that in recent years, China had made solid strides in high-quality development of foreign trade, ranking first in global trade in goods for six consecutive years. The shipping industry played an important role.China’s port cargo and container throughput have ranked first in the world for many consecutive years. In 2022, the cargo throughput of China’s ports reached 15.69 billion tonnes, and the container throughput was 296 million twenty-foot equivalent units (TEUs).

As one of the largest shipping enterprises in the world, China COSCO Shipping Corporation Limited (COSCO Shipping) owns over 1,300 ships with a combined shipping capacity of 111 million deadweight tonnes, ranking first in the world.

The company’s global shipping routes cover more than 1,500 ports in 160 countries and regions, with an annual cargo volume of 1.3 billion tonnes.

“We have made the port of Piraeus a leading container port in Europe. With joint efforts of the COSCO Shipping management team, the company has made a significant contribution to the local economy, culture, society and finance of Greece,” said Yu Zenggang, executive chairman of COSCO shipping (Piraeus) Ports Ltd.