The 40th Anniversary Forum of 2024 International Shipping Services and China Shipowners Mutual Insurance, themed "Gathering Elements for Transformation, Serving High-end Shipping," was held in North Bund on June 28.
A ceremony commemorating the 40th anniversary of China Shipowners Mutual Insurance was held at the event.
2024 marks the 40th anniversary of China Shipowners Mutual Insurance and the China Shipowners Mutual Assurance Association (China P&I).
China P&I is the only international shipowners mutual insurance organization in China and the largest P&I insurer in the country.
In September 2015, the Shanghai government signed a strategic cooperation memorandum with China P&I. In October 2017, China P&I moved its operational headquarters to North Bund.
Since its relocation, the association's membership tonnage has grown rapidly, from 40.59 million tons in February 2017 to over 92 million tons today.
China P&I offers a range of services to its members, including P&I insurance, mutual hull insurance, charterers' liability insurance, defense insurance, and delay insurance. It focuses on innovation in claims, loss prevention, and compliance services.
According to Clarkson's research, as of 2023, China's maritime import and export volume reached 3.72 billion tons, accounting for 30 percent of the global total, making it the largest trading nation.
As of August last year, Chinese shipowners held a fleet of about 250 million gross tons, making China the largest ship-owning nation. The country also leads in port throughput and shipbuilding delivery volume.
Since its establishment in Hongkou, China P&I has enriched North Bund's shipping elements and filled the gap in P&I services.
It has hosted a number of events, including high-end forums on the "Belt and Road" and maritime law, seminars on shipping insurance and commercial affairs, and salons on shipping finance leasing, enhancing North Bund's shipping brand.
In 2022, the North Bund Shipping Reception Hall was inaugurated at the China P&I Building, serving as an extension of the North Bund International Shipping Forum.
The reception hall aims to create an interactive platform for the shipping industry chain, providing a stage for exchanging important views, releasing significant policies, and fostering vital rules, thereby promoting the high-end, international development of shipping services.
In 2023, China P&I's innovative mechanism for lifting ship judicial seizures was unveiled at the North Bund International Shipping Forum's finance and insurance thematic forum.
The forum, hosted by China Shipowners Mutual Assurance Association, attracted nearly 400 guests from domestic and international regulatory bodies, industry organizations, global shipping companies, ports, cargo owners, finance, insurance, brokerage, legal, arbitration, classification societies, shipping technology, maritime services, universities, and research institutions.
Focusing on the opportunities and challenges brought about by profound changes in the global shipping industry, the forum explored the role of high-end shipping services in driving industry transformation and upgrading, supporting the development of new shipping productivity, and enhancing the capacity of high-end shipping services.
The forum also contributed many comprehensive, forward-looking, and targeted insights, further emphasizing the valuable consensus on industry exchange and development cooperation.