Thirteen dry bulk shipping companies gathered in Hong Kong on 26 June to sign a Green Shipping Cooperation Initiative and jointly release a Green Shipping Declaration, marking a collective industry effort to advance the green and sustainable development of dry bulk shipping and support Hong Kong’s role as an international maritime centre.

Under the theme “Gathering Strength in Hong Kong, Sailing Towards a New Chapter”, the event was initiated by China Merchants Group, hosted by China Merchants Energy Shipping, organised by Hong Kong Ming Wah Shipping, and co-organised by the World Maritime Merchants Forum Company Limited.

The event also featured discussions on green energy transition for ships, AI and digital applications, and the outlook for the global dry bulk shipping market, with experts from relevant fields sharing their views.

A Joint Declaration for Green Dry Bulk Shipping

According to the companies, the signing of the initiative reflects their shared confidence and common vision in promoting the green transformation of the shipping industry.

In the Green Shipping Declaration, the 13 companies set out four key areas of cooperation.

First, they agreed to maintain strategic focus and align with the International Maritime Organization’s 2050 net-zero target, while following China’s dual-carbon strategy. The companies said green development should be embedded throughout the full life cycle of ships, turning today’s emission-reduction investment into tomorrow’s competitive foundation.

Second, the companies pledged to strengthen open cooperation and build greener fleets. They will explore the establishment of a green technology sharing platform, accelerate the application of key technologies such as intelligent energy efficiency solutions and clean fuels, and promote the development of modern dry bulk fleets that are greener, smarter and more efficient.

Third, the companies said Hong Kong should serve as an important platform for building a green shipping hub. Leveraging Hong Kong’s unique position of being backed by the mainland and connected to the world, the signatories will support the development of green fuel bunkering, maritime legal services, green finance and international standards, helping Hong Kong become an important source of global green shipping rules and practices.

Fourth, the companies will use the declaration as a basis for deeper participation in green shipping governance. They said they will support the building of China into a strong maritime nation, explore green shipping corridors, and actively participate in global green shipping governance, contributing Chinese experience and solutions to the sustainable development of the global shipping industry.

A Practical Step for Dry Bulk Decarbonisation

Dry bulk shipping plays a central role in the transportation of iron ore, grain, coal and other major commodities, and remains an essential part of global industrial and supply chains. As decarbonisation pressure continues to rise, dry bulk operators are facing growing demand for cleaner ships, more efficient operations, alternative fuels, carbon management and green financing solutions.

The cooperation initiative focuses on three main areas: sharing green technologies, optimising the operating ecosystem, and jointly developing green industry standards. It is also seen as a practical step by the shipping sector to respond to green development requirements and support China’s dual-carbon goals.

The initiative also highlights the deepening collaboration between the mainland and Hong Kong maritime sectors. With its strengths in shipping finance, maritime law, insurance, ship management and international regulatory connectivity, Hong Kong is well placed to play a larger role in the green transformation of global shipping.

China Merchants to Deepen Green Shipping Layout in Hong Kong

China Merchants Group said it will continue to expand its presence in Hong Kong in areas including green shipping, smart shipping and shipping finance. The group also said it will work with industry partners to build a new green shipping ecosystem, support Hong Kong in developing into a world-class green shipping centre, and contribute more to the sustainable development of the global maritime industry.

The 13 signatories are Hong Kong Ming Wah Shipping Co., Ltd., COSCO (Hong Kong) Shipping Co., Ltd., Shandong Shipping Corporation, Fujian Guohang Ocean Shipping (Group) Co., Ltd., Beibu Gulf Shipping Co., Ltd., Wah Kwong Maritime Transport Holdings Limited, Jinhui Shipping and Transportation Limited, Bohai Ocean Shipping (Hebei) Co., Ltd., Zhejiang Shipping Group Co., Ltd., Jiangsu Ocean Shipping Co., Ltd., Nanjing Ocean Shipping Co., Ltd., Zhejiang Xiehai Group Co., Ltd., and Ningbo Chuntai Shipping Co., Ltd.

These companies have long been active in the transportation of bulk commodities such as iron ore, grain and coal, and are important participants in maintaining the stability of global industrial and supply chains.