In the afternoon of 5 June, the signing ceremony of Memorandum of Cooperation between Chinese Ship-source Oil Pollution Compensation Settlement Centre (COPC) and CPI was held in the Shanghai North Bund Shipping Service Center. Deputy Director of Shanghai Maritime Safety Administration Mr. Wu Hongbing, Vice President of the Shanghai Maritime University Mr. Yang Wanfeng, Director of Shanghai Municipal Hongkou District Investment Promotion Office Ms. Zhang Ping, Director of COPC Mr. Zhou Fangzhen and Managing Director of CPI Mr. Song Chunfeng attended the ceremony and delivered speeches, together with representatives of CPI members based in Shanghai and partners of CPI. 

In the speech made by Mr. Song Chunfeng, he extended warm welcome and sincere gratitude to the cadres and guests present. He pointed out that inking a Memorandum of Cooperation on the World Environment Day, commemorated each year on 5 June demonstrated our commitments to shoulder social responsibilities and to engage in maritime environment protection and the Beautiful China initiative. Both parties agreed to make joint efforts to further facilitate technical exchanges, improve compensation settlement of ship-source oil pollution and conduct in-depth cooperation in oil pollution prevention, compensation procedure improvement and international legislation studies by means of giving full play to their advantages.

After the speeches, Director of COPC Mr. Zhou Fangzhen and Deputy Managing Director of CPI Mr. Gong Xiqian inked a Memorandum of Cooperation on behalf of COPC and CPI respectively. Consensus was made in terms of information exchange, theoretical research, resources sharing and claims handling. In addition, the Chinese version of the Claims Information Pack of the IOPC Funds, compiled by the COPC was issued in the ceremony.