Top 5 World Shipping Centres Revealed

Singapore remains unmoved at the top of the International Shipping Centre Development (ISCD) Index for the fifth successive year, following a benchmark report published by the Baltic Exchange and Xinhua, China’s news agency.

Dubai has managed to hold on to its top five position due to pioneering reforms made recently.

The index covers 43 of the world’s largest ports and cities and is designed to bring clarity to investors and governments on the relative performance of shipping centres around the world.

The Asia-Pacific region now makes up 50% of the top 10, with three of those centres making up the top four.

Singapore maintains its leading position for the fifth consecutive year due to the strategic opportunities brought about by the “Belt and Road” initiative.

Hong Kong overtook London – for the first time in five years – to take second place, although London is still assessed to be the top professional maritime services location.

Shanghai moved up to fourth place thanks to its rapidly developing modern shipping logistics and shipping services systems, in addition to the coordinated development of its regional shipping counterparts.

Dubai maintained fifth in the rankings, driven by its innovative free-trade zone and improvement in trade environment, according to the Baltic Exchange.

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Commenting on the report’s findings, Baltic Exchange CEO, Mark Jackson, said: “This report underlines the constant competition and innovation taking place in cities around the world to attract maritime related businesses.

“Location is an important ingredient for success in the shipping industry and plays an important part in meeting the latest challenges.

“The right location gives companies access to clients, the best employees and is a platform for long-term business success.”

The report also provides a supplementary ranking, grading cities based solely on the breadth and depth of their maritime services sector, covering shipbroking, engineering, shipping business, legal, shipping finance service and ship repair services.

2018 shows the top ten port cities with the best professional shipping services are, by order of ranking: London, Singapore, Hong Kong, Shanghai, Dubai, Athens, Hamburg, New York-New Jersey, Tokyo, and Houston.

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