Singapore retains top international maritime centre ranking

Singapore top the Xinhua-Baltic International Shipping Centre Development Index for the eighth year followed by London, Shanghai, Hong Kong and Dubai, all in the same positions they were in the previous year.

The index is strongly weighted towards shipping services which form a 50% of the index’s weighting while ports contribute a further 30%.

The Covid-19 pandemic had little impact on the index and Baltic Exchange Chief Executive Mark Jackson commented: “This year’s rankings were made on the back of the global pandemic and major disruptions to lives and businesses around the world. Notwithstanding these challenges, the huge infrastructure of people and equipment that supports the global seaborne movement of billions of tonnes of trade held strong.”

The index covered 43 shipping centres and the only change in the top 10 over 2020 was Ningbo, China in the top 10 for the first time replacing the Japanese capital Tokyo in the 10^th spot.

Lu Su Ling, Head of Baltic Exchange Asia, noted in a media briefing that Ningbo was strategically located and home to a burgeoning port complex and shipping services sector.