Shanghai's Lin-gang Special Area Administration signed a cooperation agreement with V.Group on Feb 17. Chen Jinshan, director of the administration, and Rene Kofod-Olsen, CEO of V.Group, attended the ceremony.

Chen emphasized that Lin-gang Special Area will foster a more open and innovative business environment and vigorously develop high-end shipping services such as ship transportation, shipping finance, and shipping insurance, seeking to establish a high-level shipping service cluster. The area will also make efforts to expand the application of electronic bills of lading, invoices, and letters of credit through global partnerships in the aviation and trade digital chain.

Furthermore, Lin-gang Special Area will seek to become a leader in green development and construct a more complete industrial ecosystem. This includes promoting the bunkering of renewable energy for international shipping vessels, optimizing the efficiency of green energy transactions, and accelerating the development of high-end shipping services.

V.Group, headquartered in London, is a leading provider of critical services to the global shipping industry. With the largest fleet management and the second-largest crew management globally, it provides ship management, seafarer outsourcing, and maritime services for approximately 3,500 vessels belonging to major shipping companies worldwide.

The group will establish multiple business entities in Lin-gang Special Area, involving shipping, sea transportation and maritime services. Leveraging Lin-gang's institutional innovations, these entities will offer high-level shipping services such as international ship management, advanced crew training, seafarer outsourcing, and ship supply services, contributing to the digital and green transformation of the shipping sector.