KMI-SISI International Shipping Forum Held... Discussion on the Arctic Route and Global Shipping Market Outlook

Korean and Chinese Shipping Experts Gather in Shanghai

The Korea Maritime Institute (KMI, led by President Cho Jeonghee) held the 'KMI-SISI International Shipping Forum' jointly with the Shanghai International Shipping Research Center (SISI, Secretary General Zhang Jiexu) on December 10 at the Millennium Hongqiao Hotel in Shanghai, China.

The KMI-SISI International Shipping Forum serves as a platform for international cooperation, where companies, government agencies, public institutions, and academic experts from the shipping, port, and logistics sectors of both Korea and China discuss major shipping issues. Since 2009, the two institutions have co-hosted this forum.

Since 2023, the China Shipowners’ Association and the Korea Shipowners’ Association have participated as co-organizers, expanding the scope of exchange.

This year’s forum was held as a commemorative event to mark the 20th anniversary of the establishment of the KMI China Research Center, with the China Construction Bank also joining as a co-organizer.

The Korea Maritime Institute held the 'KMI-SISI International Shipping Forum' jointly with the Shanghai International Shipping Research Center on the 10th at the Millennium Hongqiao Hotel in Shanghai, China. Provided by KMI

Approximately 150 experts, including representatives from the Korean and Chinese shipping industries, logistics companies, and public institutions, attended the forum to present and discuss the theme, “Outlook and Key Issues in the Global Shipping Market.”

The opening ceremony began with an address by KMI President Cho Jeonghee (delivered by Vice President Choi Sanghee), followed by congratulatory remarks from Choi Jaeha, Deputy Consul General in Shanghai, and Wu Hao, General Manager of the Shanghai Global Financial Services Center at China Construction Bank.

During the keynote presentations, Yu Minli, Deputy General Manager at the China Construction Bank headquarters, explained the current state and outlook of the Chinese economy, predicting that the transition to high-quality growth would accelerate with the 15th Five-Year Plan. Han Jaehyun, Head of the Bank of Korea Shanghai Office, mentioned the possibility of a global economic slowdown and forecasted a weakening trend in global trade growth.

Regarding the outlook for next year’s shipping market, Zheng Jingyuan, Deputy Director of the SISI International Shipping Research Institute, analyzed that the container market will face downward pressure, while Hwang Sujin, Head of the Shipping Industry Research Office at KMI, anticipated a mixed trend in the bulk carrier market depending on vessel type.

In the comprehensive discussion chaired by SISI Secretary General Zhang Jiexu, Korean and Chinese experts engaged in in-depth discussions on the topic of “Development and Prospects of the Arctic Route.” Participants included Kim Kyunghoon, Director of the Korea Shipowners’ Association, and Ryu Heeyoung, Senior Researcher at KMI, from the Korean side, and Wang Haiming, General Manager of the Special Transport Safety Supervision Department at COSCO Shipping, and Fu Sansan, Professor at Shanghai Maritime University, from the Chinese side.

KMI President Cho Jeonghee stated, “In the rapidly changing global environment, shipping companies must reorganize their mid- to long-term competitive strategies and sustainable operation systems.” He added, “This forum was a meaningful occasion for comprehensive discussions on major issues such as the Arctic route, global risks, and decarbonization in shipping.” He further emphasized, “KMI will continue to contribute to research on global shipping issues and the advancement of the industry.”

This content was produced with the assistance of AI translation services.