Singapore has secured the top spot once again in the Xinhua-Baltic International Shipping Center Development Index Report. It is the ninth year in a row that the report, released jointly by China’s state news agency Xinhua and global maritime data provider Baltic Exchange, has ranked Singapore as the world’s leading maritime hub. Likewise, it mentions the best logistics, maritime, and port centers in the world.
The city-state scored 94.88 out of a possible 100 points, while second on the list was London, the bastion of professional maritime services, with 83.04 points. Meanwhile, Shanghai, home to the world’s largest port, ranks third with 82.79 points.
Singapore has earned its place at the top of this index due to its extensive and established ecosystem of professional global shipping services, good governance, ease of doing business, and large and strategically located port.
Further down the top ten, there was little movement as Hong Kong, Dubai, Rotterdam, and Hamburg took fourth, fifth, sixth, and seventh places respectively.
This year, however, New York/New Jersey overtook Athens/Piraeus to rank eighth on the list, due to its port’s exceptionally strong increase in TEUs in 2021, as logistics companies moved goods through the port. from the US East Coast to avoid port congestion. US west coast
Like last year, the Chinese port of Ningbo-Zhoushan ranks 10th. Its place on this list is due almost entirely to the fact that it is the third busiest port in the world in terms of cargo handling, after Singapore and Shanghai.
The report informs that:
• Singapore leads the ranking for the ninth year followed by London, Shanghai, Hong Kong, and Dubai
• Location remains important, as does the ease of doing business and access to professional shipping services
• New York/New Jersey moved up one place to number eight, due to an increase in TEU handling as cargoes were diverted from US West Coast ports.
• Athens/Piraeus drops one point to ninth place but remains strong with good performance figures
• Top 10 locations remain virtually unchanged from 2021, with four locations in Asia, four in Europe, one in the Middle East, and one in the United States
A total of 43 maritime locations were rated as part of this report, which considers port factors including cargo throughput, the number of cranes, length of container berths, and port draft; the number of participants in professional maritime support businesses, such as brokerage, ship management, ship financing, insurance, and law, as well as hull subscription premiums; and general business environment factors, such as customs tariffs, the scope of e-government services, and logistics performance.
The average score among the top 10 ports is 76.98 out of 100, with an average of 58.70 across the 43 rankings.
According to Sam Chambers of Splash247.com, the most prominent thing that has been said about it is:
Baltic Exchange CEO Mark Jackson said: “This report serves as a valuable reminder of how intrinsic shipping is to global trade and prosperity. It also illustrates that shipping does not exist in silos.”
Maritime and Port Authority of Singapore Chief Executive Officer Quah Ley Hoon said: “As the maritime sector continues to build resilience and future-ready capacity, we will continue to work with our maritime colleagues around the world to drive transformation, particularly in the areas of decarbonisation, digitalisation and talent development”.
Singapore has topped most shipping hub surveys for the past decade. The 2022 edition of the Leading Maritime Cities (LMC) report compiled by classification society DNV and Menon Economics, published in January, saw Singapore retain its number one spot overall with Rotterdam in second place and London taking the bronze spot in the podium.
Source: Hellenic Shipping News – Splash247.com