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Singapore announced top maritime centre for 11th consecutive year
The ISCDI 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.
Dr.G.R.Balakrishnan Aug 23 2024 Shipping News

Singapore announced top maritime centre for 11th consecutive year

The Baltic Exchange, in collaboration with Xinhua News Agency, proudly announces the release of the 2024 Xinhua-Baltic International Shipping Centre Development Index (ISCDI) Report. 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.

For the 11th consecutive year, Singapore has been recognised as the world’s leading shipping centre, 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.

Singapore, London, and Shanghai continue to lead the rankings, underscoring their global leadership in shipping.  Tianjin 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.

Mark Jackson, Chief Executive of the Baltic Exchange, commented: “It has been eleven years since the Baltic Exchange began collaborating with Xinhua News Agency on this Index, and in that time, we have observed significant shifts in global trade patterns. 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. “This year’s rankings highlight the strength of global ports, with Singapore, London, and Shanghai continuing to lead the way, providing world-class services and infrastructure that underpin the industry’s success. The shipping industry will continue to face challenges such as decarbonisation and evolving trade routes. However, its inherent resilience and strategic importance will ensure that it remains a critical driver of global economic growth and stability.”

Teo Eng Dih, Chief Executive, Maritime and Port Authority of Singapore, said: “We thank our international partners, including maritime administrations, port authorities, industry, research community, the enterprise ecosystem as well as unions, for this achievement. 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 decarbonisation, digitalisation and talent development for the global maritime community.”