Since the outbreak of the global financial crisis in 2008, the world economic growth has been weak, and trade barriers trend to get aggravated with the slowed global trade growth. The shipping market met its Waterloo amid the sluggish international trade. Lured by the benefits brought about by the mythic peak periods (before 2008 in particular) in the shipping market, investors unleashed their shipping capacity to the shipping market significantly during the several years after 2008. Because of the resulting extreme imbalance between the supply and demand, the freights went down sharply, and a vicious cycle was thus formed. The depression of the global shipping market and port industry seemed to have become chronic after 2008. Enterprises that have been seeking a slim chance of survival in the market are also embattled. In this context, both the government authorities and enterprises are looking for a path for the development of the industry and survival of the enterprise.

Meanwhile, clouded by the continuous depression of the international shipping market, the shipping industry itself is also undergoing tremendous changes, including changes in the technology, organizational model and business model. For example, in order to cut down shipping costs, the ship upsizing trend becomes increasingly apparent, with the proportion of shipping capacity carried by ultra large ships on the rise in the international shipping market. In addition, in order to improve the competitiveness of enterprises in the market and enhance customer service levels, some shipping enterprises are trying to innovative their service models. Against the shipping market downturn, shipping enterprise alliances and port resource integration programs among other new forms of development make their debut. In addition, the rules and practices of international shipping are also changing, such as the introduction of the VGM new regulations and the increasingly stringent standards on ship emissions by the International Maritime Organization (IMO). These changes and adjustments in international regulations all mean that the government and enterprises need to re-examine and adjust the specific policies and measures.

Although currently the international shipping industry is facing a “crisis”, “crisis” and “opportunity” always coexist. The downturn in the shipping market may breed a revolutionary moment for change through innovation. In the early 1950s, the birth of the container changed the development track of the shipping industry. Perhaps a new industrial revolution is also brewing at this moment.

For the reasons above, the shipping industry, government and enterprises all need a shipping think tank to provide intellectual support. A more scientific and effective intellectual support requires extensive exchanges and cooperation among shipping research and advisory bodies. Therefore, it is urgent for research and advisory bodies in the shipping industry, which have kept a watchful eye and been providing suggestions on development of the shipping and port industries, to enhance communications and cooperation through alliances and seek counter-measures to provide high-quality intellectual support to international organizations, government departments of various countries (regions), industries and enterprises. The new developments, new challenges and new rules in the industry also require sufficient basis and reliable reference for the formulation and improvement of policies and rules.