Dubai Ranks Fifth Globally in the International Shipping Centre Development Index
Dubai continues to maintain its leadership in the global maritime sector, ranking among the top five globally in the 2024 International Shipping Centre Development Index (ISCD).
The latest report issued by the Baltic Exchange and Xinhua News Agency places Dubai as the fifth strongest international shipping centre for the fifth consecutive year, making it the only Arab city in the top 20.
Singapore, London, Shanghai, and Hong Kong secured the top four positions in the index.
The Baltic Exchange's report, titled ‘Dubai Reinforces Its Position as a Leading Maritime Powerhouse in the Middle East’, highlights Dubai's impressive rise in the maritime sector in 2023 and its efforts to further consolidate its status as a major hub.
It noted the issuance of the Dubai Maritime Authority's Instruction No. 1 for 2023 on local container fee transparency, which mandates all service providers to disclose their local container fees through the unified portal of Dubai Trade.
The report stated: "Following its hosting of the United Nations Climate Change Conference (COP28), Dubai enhanced its maritime credentials in 2023, offering a prominent platform for major international maritime companies and organisations to announce innovative partnership and decarbonisation initiatives during this global summit.”
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His Excellency Sultan bin Sulayem, the Chairman of Ports, Customs, and Free Zone Corporation, expressed optimism about the 2024 report results and pride in the achievement that affirms Dubai's strong maritime position on the global map.
He emphasised that the Ports, Customs, and Free Zone Corporation is committed to taking proactive steps to enhance the maritime sector's contribution to achieving the strategic goals of the Dubai Economic Agenda D33 over the next decade, despite global economic challenges and market fluctuations.
His Excellency noted that Dubai's position as the only Arab city among the top 20 international maritime centres is a clear indicator of the emirate's consistent growth and its emerging role as a key global maritime capital in the years to come.
Sheikh Dr. Saeed bin Ahmed bin Khalifa Al Maktoum, Executive Director of the Dubai Maritime Authority, affirmed that the maritime sector plays a vital role in Dubai's business environment and is a key driver of the emirate's economy.
"The Dubai Maritime Authority is working to enhance Dubai's status as a global maritime hub by advancing innovation, sustainability, and investment. We are also focused on embracing future trends in the Middle East’s maritime industry by expanding commercial operations and developing infrastructure.”
“Dubai's global ranking as the fifth strongest shipping centre for the fifth consecutive year is yet another international endorsement of Dubai's pioneering initiatives and exceptional maritime business environment.
"With the application of global best practices, Dubai continues to enhance and empower the maritime and shipping sector,” he added.
The report issued by the Baltic Exchange noted: "In addition to its leadership in environmental sustainability, Dubai will not cease in achieving comprehensive maritime dominance for decades to come.
The emirate has risen to the top of the global logistics scene from 2023/2024, thanks to its ongoing efforts in decarbonisation and development of environmentally friendly marine ecosystems, as well as seamlessly integrating maritime, land, and air shipping capabilities."
The International Shipping Centre Development Index report, published annually, is based on a methodology that assesses competitive ability to attract maritime business and the level of development of maritime centres worldwide.
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