Top 5 retain same positions as in 2019 rankings
The Baltic Exchange, in collaboration with Xinhua, the Chinese state news agency, has published the 2020 Xinhua-Baltic International Shipping Centre Development (ISCD) Index. Dubai, as the pre-eminent shipping hub in the Middle East, ranked fifth for the third consecutive year.
The index, in its seventh edition, provides an independent ranking of the performance of the world’s largest cities that offer port and shipping business services.
The ranking is based on objective factors including port throughput and infrastructure; depth and breadth of professional maritime support services; as well as the general business environment.
The top 5 international shipping centres remain the same as 2019 with Singapore retaining the top spot followed by followed by London, Shanghai, Hong Kong and Dubai.
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.
Dubai, as the pre-eminent shipping hub in the Middle East, ranked fifth for the third consecutive year.
Rotterdam and Hamburg have also retained their positions since 2018, ranking sixth and seventh respectively.
Benefiting from an improving business environment, Athens rose to eighth. New York-New Jersey slipped by one place, while Tokyo rose one place, returning to the ranks of the top 10.
Baltic Exchange Chief Executive, Mr Mark Jackson said: “Whilst this report reflects a pre-COVID 19 world, those locations which continue to build on their strengths, are able to communicate a clear vision for the future and diversify beyond the physical port hub will be the ones who are able to succeed in the future.
"We call on all the main shipping hubs to continue investing in education, R&D and new services; remain open to global talent and offer an attractive international business environment.”