SPG holds its first integrated supply chain service overseas promotion conference in Singapore on Oct 13. [Photo provided to chinadaily.com.cn]

Shandong Port Group (SPG) on Oct 13 held its first integrated supply chain service overseas promotion conference in Singapore.

The group had on the same day also inaugurated Trafigura SPG International Trading Co Ltd, a signal of its intent to further enhance its pace of global expansion and achieve win-win collaboration with Singapore-based enterprises.

During the event, Shandong Port Trading Group signed strategic cooperation agreements with China Zhenhua Oil Trading (Singapore) Pte Ltd, Ocean Energy Pte Ltd, Century Commodities Solution Pte Ltd and Star Energy Singapore Pte Ltd, while Shandong Port Southeast Asia Office inked a strategic cooperation agreement with the Bank of China Singapore Branch.

SPG was established on Aug 6, 2019 in Qingdao following the integration of seven port cities in Shandong. At present, SPG operates four port subsidiaries (Qingdao Port, Rizhao Port, Yantai Port and Bohai Bay Port) and 13 business segments. It has a workforce of over 60,000 employees and total assets worth 260 billion yuan ($35.54 billion).

In 2022, SPG's cargo throughput exceeded 1.6 billion metric tons and its container volume surpassed 37 million TEUs, ranking first and third in the world respectively. Qingdao Port's cargo volume and container volume were ranked 4th and 5th in the world respectively, while Rizhao Port's cargo volume was ranked 8th.

As the largest port for trade flow in northern China, SPG is responsible for 97 percent of Shandong's imports and exports, with the imports of crude oil, iron ore, bauxite and grain accounting for one-third, one-fourth, three-fifths and one-fifth of the national total respectively. The group now operates 22 major port areas, 370-plus production berths, 400,000-ton ore terminals, 450,000-ton crude oil terminals, and is capable of berthing the world's largest cruise ships.

SPG is also home to Asia's first fully automated container terminal and leads the world in port efficiency. Its subsidiary Qingdao Port has been ranked first in the world in terms of the berth efficiency of Maersk vessels for seven years in a row.

This year marks the 10th anniversary of the Belt and Road Initiative. SPG is located at the intersection of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, and thus acts as the most efficient shipping outlet for the Yellow River basin, a bridgehead in trade connectivity with ASEAN and RCEP member states, and a significant node for domestic and international circulations.

SPG highly values the exchanges and cooperation with Belt and Road countries, especially Singapore-based companies. It had set up its Singapore-headquartered Southeast Asia office in February.

SPG is building a port-based integrated supply chain service system to enhance its core competitiveness. It is also striving to become an international shipping hub center in Northeast Asia that features a globally-leading smart and green port, logistics and finance services, a trade port, a city-industry integration port, and a cruise culture and tourism port.

Looking ahead, SPG will continue to build bridges for cooperation and exchanges and create channels for mutually beneficial cooperation so as to better stabilize the global industrial and supply chains. SPG stands ready to join hands with customers in Southeast Asia to help build an open world economy and create a more prosperous future.