Belt Road Initiative helps China merges economic and security goals, with heavy emphasis on maritime commerce and defense.
While several Asian economies have been struggling, Vietnam is charging ahead. The economy grew by an annual 6.9% in the third quarter of the year.
"I’m here today at summit to emphasise the importance of environmental efficiency especially for cargo owners."
“It is a bit late to take action now. A lot of business opportunities have gone to Singapore,” the source said. “Yet, the city should still find ways to enhance its competitiveness.”
Technological advances including AI, IoT, blockchain, autonomous ships, drones have the potential to boost efficiency in the global shipping industry.
China remained the trading nation best connected to others by sea in 2018, with Singapore, South Korea, Hong Kong, and Malaysia rounding out the Top 5.
The stars are aligned for China’s Belt and Road to redefine global shipping and seaborne trade flows and patterns.
They will collaborate in designing and creating an electronic Bill of Lading (e-BL) which will exist on a blockchain.
The UN’s Review of Maritime Transport 2018 identifies seven key trends that are redefining the maritime transport landscape and shaping the sector’s outlook.
The global shipping industry has for the first time agreed to cut its emissions of greenhouse gases.