The unveiling ceremony for Shandong Port (Southeast Asia) Company and a business promotion meeting of Shandong Port Group (SPG) were held in Singapore on Feb 20.
During the event, SPG and many of its subsidiaries signed cooperation agreements with some world-leading companies. SPG signed an agreement with Singapore Pacific International Lines, Singapore Winning International Group and Shandong Weiqiao Pioneering Group. Other cooperation agreements were signed between Shandong Port Logistics Group and Cargill Investment (China) Company, Shandong Port Trade Group and Trafigura Investment (China) Company, Shandong Port Overseas Development Group and Maersk Terminal Management (Singapore) Company.
Since its establishment on Aug 6, 2019, SPG has actively integrated into the Belt and Road Initiative (BRI). It has now connected to over 100 countries and regions across the world by launching 327 container lines and 82 sea-rail combined freight train routes, and established sister relationships with 40 ports worldwide. In 2022, SPG's overall cargo throughput exceeded 1.6 billion metric tons and its container volume surpassed 37 million twenty-foot equivalent units, ranking first and third globally, as part of its efforts to transform from a port operator to a comprehensive supply chain service provider.
Its leading port capacity, advanced scientific and technological capability, efficient management model and professional service system have given the SPG brand prominence and helped SPG expand overseas markets at a swift and steady pace. Currently, SPG has taken part in 11 overseas projects spanning Europe, Asia and Africa. Through establishing an internationalized port operation and management service platform, a logistics resources integration platform and an industrial chain investment and financing platform, SPG has achieved exchanges and cooperation with overseas partners at a deeper level.
Singapore is hailed as the world's freest economy and enjoys higher trade facilitation than most of the countries across the world. In this context, SPG's move to open up the first overseas regional company in Singapore will deepen its collaboration with the world's top shipping lines, renowned trade enterprises and other cooperation partners. This will better leverage its comprehensive advantages in brand value, port operation and management. Meanwhile, SPG will tap into Singapore's shipping resources to step up its transition to an international shipping center.
SPG's Southeast Asia branch will focus on building itself into a platform featuring the following functions: an overseas communication platform, a cross-border trade and logistics e-commerce platform, a platform for overseas publicity and promotion, a magnet for investment, and a center for culture, tourism and information. It plans to combine port services, logistics, finance, trade, and shipping to help SPG accelerate its transformation and upgrading from a traditional loading and discharge port to a hub port, a trade port and a finance port.
Going forward, SPG is expected to take advantage of the opportunity brought about by the establishment of the Southeast Asia branch and the signing of cooperation agreements as it seeks to turn itself into a primary platform serving economic and trade cooperation and a new engine for quickening international expansion. The overall aim is to make positive contributions to promoting the high-quality development of the BRI, stabilizing global industrial and supply chains and forging a global economic cooperation community.
Source: SPG
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