by Lloyd's List

22 Oct 2024 (Lloyd's List) - AFTER holding the title of the world’s largest container port for 14 consecutive years, Shanghai is poised to surpass 50m teu this year and is setting its sights on reaching 65m teu in 2035.

“Shanghai will be the world’s first port to surpass the 50m teu milestone,” Shanghai mayor Gong Zheng told the North Bund International Shipping Forum being held in the city.

Shanghai’s throughput surpassed 49m teu in 2023. During the first nine months of this year, Shanghai handled 39.1m teu, an 8% year-on-year increase.

With a further ambitious goal to exceed 65m teu throughput by 2035, Shanghai would accelerate the construction of new container terminals and strengthen itself as an intermodal transport hub, vice-mayor Zhang Xiaohong said.

Gong told the audience that Shanghai would continue to promote the adoption of green energy and digital technology to enhance industry efficiency in tandem with the growing container throughput.

Cosco chairman Wan Min echoed the city officials, describing Cosco’s efforts in cross-region integration and technology application.

Chinese state-owned Cosco has been establishing a series of companies as platforms in central and western China to link shipping, railway and road into intermodal networks, Wan said.

Furthermore, the company is building a digitalised platform to cater to the needs of the Association of Southeast Asian Nations and the Indian Ocean region.

Wan also highlighted the integration of artificial intelligence technology in shipping and logistics, where they have developed more than 40 AI application scenarios.

For example, more than 90% of Cosco’s empty container repositioning instructions were automatically generated using AI algorithms, leading to more than 4% cost reduction, he noted.

Wan reiterated the shipping giant’s ambition to spearhead in the use of green methanol as an alternative fuel, stating that methanol-powered vessels will be deployed on container routes along green corridors from China to the US west coast and to South America, on the routes of transporting iron ore and bauxite from West Africa, as well as of oil shipments from the Middle East.

Hong Kong Shipowners Association managing director Sandy Chan said on the sidelines of the forum that Hong Kong and Shanghai, as two shipping hubs, should collaborate in promoting the industry to establish standards for green fuels and bunkering.