THE Baltic Exchange, in collaboration with Xinhua News Agency, have released the 2024 Xinhua-Baltic International Shipping Centre Development Index (ISCDI) report which shows that singapore is the world's leading maritime centre for the 11th year in a row.
This annual report, now in its 11th year, ranks the world's leading shipping centres based on a comprehensive evaluation of port factors, professional business services, and the general environment. the accolade by achieving a score of 96.23 out of 100. The enduring success of the island nation is attributed to Singapore's strategic location, robust international outlook, and a well-established ecosystem of professional maritime services.
London once again secured second position with a score of 82.50, demonstrating its continued prominence as a maritime support services powerhouse.
Shanghai, with a score of 81.84, retained third place, highlighting its significant role as a major port city in Asia.
London and Shanghai have retained their positions of second and third place, respectively, within the Index for the past five years.
Hong Kong (79.07) and Dubai (75.64) rounded out the top five, emphasizing the strength and importance of these key global shipping hubs. Rotterdam solidified its position as a European leader by maintaining its strong sixth place from 2023 into 2024.
Meanwhile both Athens/Piraeus and Ningbo Zhoushan have each climbed one place in the rankings this year, to seventh and eighth, respectively. As a result, Hamburg has dropped two spots to ninth but still maintains its decade-long position in the top ten.
As in 2023, New York/New Jersey rounded out the top 10 owing to a substantial increase in container volumes, as well as improvements in port infrastructure.
Tianjin, as a new entrant, was the only new feature to this year's list, taking 19th position, marking yet another Asian port in the global rankings.
Other notable rankings include Houston at 11th (68.08), Tokyo at 12th (66.60), and Guangzhou at 13th (65.36). These cities continue to demonstrate robust maritime capabilities and significant contributions to global shipping.
A total of 43 maritime locations were evaluated in the report.
Mark Jackson, chief executive of the Baltic Exchange, commented: 'The international shipping industry in 2023 demonstrated remarkable resilience and adaptability, reinforcing its indispensable role as the cornerstone of global trade.
'Despite facing significant economic slowdowns, geopolitical tensions, and environmental challenges, the sector maintained stability and continued to facilitate the movement of essential goods around the world.'
Pan Haiping, chairman of China Economic Information Service, said: 'This year's ISCDI Report shows that the world's trade and shipping network underwent some subtle changes in 2023.
'Even with all the challenges the global shipping industry faced throughout the year, including route challenges in the Panama Canal and the Red Sea, the maritime sector continues to exhibit strong vitality and excellent resilience, driven by global demand for goods.
'Decarbonization has also become the consensus in the global shipping industry, while digital technologies such as AI, digital twins, IoT, and automation are constantly empowering the shipping industry and promoting the development of ports to become more efficient, smarter and more sustainable.'
Teo Eng Dih, chief executive, Maritime and Port Authority of Singapore, said: 'We will continue to value-add to the maritime community and explore opportunities for collaboration with like-minded partners to strengthen Singapore's connectivity and advance maritime decarbonization, digitalization and talent development for the global maritime community.'
SeaNews Turkey
This annual report, now in its 11th year, ranks the world's leading shipping centres based on a comprehensive evaluation of port factors, professional business services, and the general environment. the accolade by achieving a score of 96.23 out of 100. The enduring success of the island nation is attributed to Singapore's strategic location, robust international outlook, and a well-established ecosystem of professional maritime services.
London once again secured second position with a score of 82.50, demonstrating its continued prominence as a maritime support services powerhouse.
Shanghai, with a score of 81.84, retained third place, highlighting its significant role as a major port city in Asia.
London and Shanghai have retained their positions of second and third place, respectively, within the Index for the past five years.
Hong Kong (79.07) and Dubai (75.64) rounded out the top five, emphasizing the strength and importance of these key global shipping hubs. Rotterdam solidified its position as a European leader by maintaining its strong sixth place from 2023 into 2024.
Meanwhile both Athens/Piraeus and Ningbo Zhoushan have each climbed one place in the rankings this year, to seventh and eighth, respectively. As a result, Hamburg has dropped two spots to ninth but still maintains its decade-long position in the top ten.
As in 2023, New York/New Jersey rounded out the top 10 owing to a substantial increase in container volumes, as well as improvements in port infrastructure.
Tianjin, as a new entrant, was the only new feature to this year's list, taking 19th position, marking yet another Asian port in the global rankings.
Other notable rankings include Houston at 11th (68.08), Tokyo at 12th (66.60), and Guangzhou at 13th (65.36). These cities continue to demonstrate robust maritime capabilities and significant contributions to global shipping.
A total of 43 maritime locations were evaluated in the report.
Mark Jackson, chief executive of the Baltic Exchange, commented: 'The international shipping industry in 2023 demonstrated remarkable resilience and adaptability, reinforcing its indispensable role as the cornerstone of global trade.
'Despite facing significant economic slowdowns, geopolitical tensions, and environmental challenges, the sector maintained stability and continued to facilitate the movement of essential goods around the world.'
Pan Haiping, chairman of China Economic Information Service, said: 'This year's ISCDI Report shows that the world's trade and shipping network underwent some subtle changes in 2023.
'Even with all the challenges the global shipping industry faced throughout the year, including route challenges in the Panama Canal and the Red Sea, the maritime sector continues to exhibit strong vitality and excellent resilience, driven by global demand for goods.
'Decarbonization has also become the consensus in the global shipping industry, while digital technologies such as AI, digital twins, IoT, and automation are constantly empowering the shipping industry and promoting the development of ports to become more efficient, smarter and more sustainable.'
Teo Eng Dih, chief executive, Maritime and Port Authority of Singapore, said: 'We will continue to value-add to the maritime community and explore opportunities for collaboration with like-minded partners to strengthen Singapore's connectivity and advance maritime decarbonization, digitalization and talent development for the global maritime community.'
SeaNews Turkey