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.”