Singapore retained its number one ranking as an international maritime centre for the eighth year based on the Xinhua-Baltic International Shipping Centre Development (ISCD) Index.
Singapore was followed by London, Shanghai, Hong Kong and Dubai — all were in the same spots just like the previous year.
The index is strongly weighted towards shipping services which form a 50% of the index’s weighting while ports contribute a further 30%.
The index covered 43 shipping centres and the only change in the top 10 over 2020 was Ningbo, China in the top 10 for the first time replacing Tokyo in the 10th spot.
In a statement, Singapore noted that the index is an independent ranking of the performance of 43 cities offering port and shipping business services. The rankings consider factors including cargo throughput, port facilities, maritime services and business environment. Singapore is ranked first, based on its robust port infrastructure, a comprehensive range of maritime services and supportive government policies.
“As the world’s busiest container trans-shipment and bunkering hub, the Port of Singapore has done well to support global seaborne trade during this pandemic. Our international maritime centre remains a vibrant marketplace centred on a strong core of shipping companies and a comprehensive pool of maritime services such as shipbroking, marine insurance, ship financing and maritime law and arbitration. I thank our maritime companies and unions for their strong partnership in growing Singapore’s maritime sector amidst a very challenging year,” said Chee Hong Tat, Senior Minister of State, Ministry of Transport.
Baltic Exchange Chief Executive Mark Jackson noted that the Covid-19 pandemic had little impact on the index.
“This year’s rankings were made on the back of the global pandemic and major disruptions to lives and businesses around the world. Notwithstanding these challenges, the huge infrastructure of people and equipment that supports the global seaborne movement of billions of tonnes of trade held strong,” he said.
