SPG inks a comprehensive strategic cooperation agreement with the Switzerland-based Mediterranean Shipping Company on Sept 26. [Photo provided to chinadaily.com.cn]

Shandong Port Group (SPG) on Sept 26 inked a comprehensive strategic cooperation agreement with the Switzerland-based Mediterranean Shipping Company (MSC), the world's largest container shipping line, in Qingdao.

According to the agreement, the two sides will follow the principles of resource sharing, mutual benefit, advantage complementarity and joint discussions, leverage respective strengths, and strengthen cooperation in various fields such as terminals, depot joint venture projects, shipping hub construction, and holistic logistics. All these efforts are aimed at helping SPG accelerate the development of an international shipping hub center in Northeast Asia.

Prior to the signing ceremony, the two sides had a meeting and said that in 2022, SPG's cargo throughput exceeded 1.6 billion metric tons, ranking No 1 globally. MSC is the world's largest container shipping line and has continuously been opening shipping routes, enlarging shipping capacity and expanding transshipment volumes at SPG for years, which has consolidated Qingdao Port's position as a hub port in Northeast Asia.

SPG has leveraged its role as a hub in industrial and supply chains in order to bring customers more convenient, safer and more efficient services and move faster to build a first-rate integrated supply chain service system. MSC has been committed to helping accelerate the decarbonisation and sustainable development of the global shipping sector, with a view to helping China peak carbon emissions and achieve carbon neutrality.

The two agreed that in the years ahead, they will strengthen practical collaboration in the core port business as part of their joint efforts to stabilize the global industrial and supply chains.