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Shanghai-Melbourne green shipping corridor initiative unveiled at forum in Shanghai

China

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China

Shanghai-Melbourne green shipping corridor initiative unveiled at forum in Shanghai

2025-10-20 12:14 Last Updated At:16:37

An initiative of Shanghai-Melbourne green shipping corridor was unveiled at the 2025 North Bund Forum held Sunday in Shanghai.

Jointly launched by the Port of Shanghai and the Port of Melbourne, the initiative is part of the achievements announced at the forum to promote international cooperation on green shipping corridors.

"Port of Shanghai is the world's largest and busiest port. In Australia, the port of Melbourne is the busiest port in Australia. So in terms of the volumes going across the trade line between China and Australia and us in Melbourne, it makes a lot of sense to look to how we can decarbonize that supply chain. It will really have a positive impact to the environment," said Saul Cannon, CEO of the Port of Melbourne.

Several other cooperative achievements in building green shipping corridors and international aviation hubs were also announced at the forum co-hosted by China's Ministry of Transport and Shanghai Municipal People's Government.

The forum, running till Tuesday, brought together more than 400 international guests to discuss sustainable development in the global shipping and aviation industries.

"It's important that we are working on efficiency on all kinds of digitization to improve efficiency on the sustainable topics. I think city of Shanghai has one of the leading ports worldwide. It has the magnetic character to have more port leaders join such a forum. It's great to have that forum to bring the people together," said Jens Meier, President of the International Association of Ports and Harbors.

China has maintained its top global ranking in maritime connectivity for several consecutive years, with steadily expanding openness and international cooperation in the sector, according to the Ministry of Transport.

As of this April, China had signed bilateral or multilateral maritime agreements with 70 countries and regions.

Shanghai-Melbourne green shipping corridor initiative unveiled at forum in Shanghai

Shanghai-Melbourne green shipping corridor initiative unveiled at forum in Shanghai

Shanghai-Melbourne green shipping corridor initiative unveiled at forum in Shanghai

Shanghai-Melbourne green shipping corridor initiative unveiled at forum in Shanghai

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Crude futures settle lower

 

Oil prices fell on Thursday.

The West Texas Intermediate for February delivery dropped 2.83 U.S. dollars, or 4.56 percent, to settle at 59.19 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery lost 2.76 dollars, or 4.15 percent, to settle at 63.76 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle lower

Crude futures settle lower

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