The Baltic Exchange, in collaboration with Xinhua, Chinese state news agency, published the 2020 Xinhua-Baltic International Shipping Centre Development (ISCD) Index.
According to the newly-launched Index, Singapore retained the top spot as international shipping centre for the seventh consecutive year.
Following, London has climbed back to the second place after being third in 2018 and 2019.
As the biggest port in terms of container throughput, Shanghai has seen a steady improvement in port facilities and shipping service levels, and has ascended to the top three for the first time. Hong Kong fell to fourth place mainly due to a decrease in cargo throughput and a drop in rankings relative to other centres in areas such as ship brokerage, insurance and legal services.
In addition, Dubai, as the pre-eminent shipping hub in the Middle East, ranked fifth for the third consecutive year. Rotterdam and Hamburg with the same positions since 2018, while Athens rose to being eight. New York-New Jersey slipped by one place, while Tokyo rose one place, returning to the ranks of the top 10.
Referring to the Index, Maritime and Port Authority of Singapore Chief Executive, Ms Quah Ley Hoon commented
Singapore is deeply honoured to retain the top spot in the 2020 Xinhua-Baltic International Shipping Centre Development (ISCD) Index for the seventh year running. This good news comes amidst the COVID-19 gloom.
Key Findings at a glance
• The top 5 international shipping centres remain the same as 2019, although with some movement
• Singapore tops the list for the seventh consecutive year followed by London, Shanghai, Hong Kong and Dubai
• London and Dubai are the only top 5 international shipping centres outside Asia, with London moving up one spot into second place
• Continued rise in Middle East and Mediterranean locations with Dubai retaining fifth place while Athens rose to eighth place
Explore more by reading the report herebelow
