Singapore Retains Top Rank of Shipping Hubs: Xinhua-Baltic
In its ninth year, the Xinhua-Baltic International Shipping Center Development Index report saw Singapore take the top spot again, as it has every year since its inception, with the city-state scoring 94.88 points out of a possible 100.
Quah Ley Hoon, Managing Director of the Maritime & Port Authority of Singapore (MPA), said, “This is a reflection of the strong tripartite partnership with our partners, industry players and unions at Maritime Singapore. During the pandemic, we are also reminded of the global nature of shipping and the need for close collaborations to address global challenges such as crew change.
The top 10 ranking was little changed from 2021, with London remaining in second place with a score of 83.04 points out of 100, and Shanghai in third with 82.79 points. Hong Kong and Dubai complete the top five, maintaining fourth and fifth place.
In fact, the only change in the top 10 was that New York/New Jersey moved up to eighth place, pushing Athens/Piraeus shipping center to ninth place. New York/New Jersey’s advance was attributed to increased container volumes being redirected from congested US West Coast ports in 2021.
The average score across the top 10 ports is 76.98 out of 100, with the average across all 43 rankings being 58.70.
Baltic Exchange Managing Director Mark Jackson said: “This report is a valuable reminder of the intrinsic importance of shipping to global trade and prosperity. It also shows that shipping does not exist in silos. The success of the maritime hubs included in the top ten list is largely the result of collaboration and synergies between different sectors of the shipping industry.
The rankings consider port factors including cargo throughput, number of cranes, length of container quays and port draft; number of players in the professional maritime support professions such as maritime brokerage, ship management, ship financing, insurance and law as well as hull underwriting premiums; and general business environment factors such as tariffs, extent of e-government services, and logistics performance.
Read the full report here
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