Shipmanagers setting up in Shanghai’s FTZ

Shanghai: The Shanghai Pilot Free Trade Zone has attracted its first shipmanagement companies, state media reports. Three foreign shipmanagers set up in the close to one-year-old FTZ, authorities said yesterday with another six from Germany, Singapore and Hong Kong in the middle of applying.

"Two hundred years ago, the international shipping centre was London. It moved to New York last century. And now, it is transferring to Asia," Zhang Binghua, Greater China representative of Maritime London, which represents UK-based businesses involved in maritime services, told the People’s Daily.  [29/08/14

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