July 14, 2020: The top five international shipping centres of 2020 remain the same as the previous year, according to the 2020 Xinhua-Baltic International Shipping Centre Development (ISCD) Index.
The Baltic Exchange, a maritime market information provider and Xinhua, the Chinese state news agency, have published the seventh edition of the ISCD index, in which Singapore retains the top spot for a seventh consecutive year, while London, Shanghai, Hong Kong and Dubai follow.
Singapore enjoys the first place thanks to “advantages of geographical location, shipping industry ecosystem and supportive government policies.” At the same time, London has gained one place climbing back to second place after dropping to third place in 2018 and 2019. Another country in the top-five, Dubai, was ranked fifth for the third consecutive year.
“This good news comes amidst the Covid-19 gloom. The real test will be how we bounce back in a world shaken by an unprecedented crisis. We will need a global and co-ordinated effort. In this regard, Singapore will continue to rally governments and the global shipping community to work together and emerge stronger,” said Singapore’s senior minister of state for transport and health, Lam Pin Min.
Shangai, the biggest port in terms of container throughput, has seen a steady improvement in port facilities and shipping service levels, and has ascended to the top three for the first time, while Hong Kong lost ground and fell to fourth place, 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.
In the meantime, Rotterdam and Hamburg have retained their positions since 2018, ranking sixth and seventh respectively. In addition, Athens has climbed to eighth place, benefiting from an improving business environment, according to Baltic Exchange, followed by New York-New Jersey and Tokyo, which are also included in the top-10.
The index provides an independent ranking of the performance of the world’s largest cities that offer port and shipping business services, based on objective factors including port throughput and infrastructure, depth and breadth of professional maritime support services, as well as the general business environment.
“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,” Baltic Exchange chief executive, Mark Jackson commented.
Source: Container News
