Singapore, London, Shanghai top shipping ranking

According to this year’s recently released Xinhua-Baltic International Shipping Center Development Index Report, Singapore, London and Shanghai are the top three global shipping hubs in 2021, followed by Hong Kong, Dubai, Rotterdam, Hamburg, Athens/Piraeus, New York/New Jersey and Ningbo.

Jointly launched by China Economic Information Service and Baltic Exchange in 2014, the Xinhua-Baltic International Shipping Center Development Index has become a significant and increasingly influential index to evaluate the development of major shipping centers.

The Xinhua-Baltic International Shipping Center Development Index incorporates three primary indicators and 16 secondary indicators to evaluate the comprehensive performance of 43 cities across the world that offer port and shipping businesses from perspectives of port infrastructure, shipping services and general environment.

Singapore has maintained its lead in the Xinhua-Baltic International Shipping Centre Development (ISCD) Index as the world’s top maritime centre for the eighth year running.

The Maritime and Port Authority of Singapore (MPA) said on Sunday that 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,” it added.

Shanghai’s third ranking could be attributed to its enhanced port construction and shipping services, as well as improved global resource allocation capability empowered by such mechanisms as China (Shanghai) pilot free trade zone, Yangtze River Delta coordinated development and technological innovations. It’s worth noting that Shanghai has embarked on a fast lane of innovation and development by promoting digitalization of ports and shipping industry to improve operation efficiency and returns.

According to the plan for the construction of Shanghai international shipping center during the 14th Five-year Plan period from 2021 to 2025, Shanghai will basically build itself into a convenient, efficient, multifunctional, open, inclusive, green, intelligent international shipping centre with strong service capability by 2025.

Shanghai North Bund, as a important pillar of the city’s international shipping business, will accelerate developing high-end shipping services such as shipping finance, shipping trade, maritime law and information consulting. It will also strive to build a shipping service innovation demonstration area by attracting shipping enterprises, international organizations and institutions.