Singapore announced top maritime centre for 11th consecutive year

The 2024 Xinhua-Baltic International Shipping Centre Development Index (ISCDI) Report, co-released by the Baltic Exchange and Xinhua News Agency, marks its 11th year of evaluating the world’s top shipping centres. The report offers a detailed assessment of these hubs based on port efficiency, professional business services, and the overall business environment, solidifying its importance in the maritime industry.

Singapore has once again been named the world’s leading shipping centre, achieving a high score of 96.23 out of 100. This marks the 11th consecutive year Singapore has retained this position, thanks to its strategic location and robust maritime infrastructure. London and Shanghai follow closely, securing second and third place, respectively, and maintaining their rankings from the previous year. The report underscores the stability and sustained performance of these top ports, despite the global challenges faced by the maritime industry.

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Other prominent shipping centres such as Hong Kong, Dubai, and Rotterdam also performed strongly, reinforcing their roles as key global players. The rankings highlight the ongoing strength of these hubs in a year marked by significant shifts in global trade patterns and the ongoing push for decarbonisation and digital innovation within the industry. The ISCDI Report further notes the entry of Tianjin into the rankings, showcasing the growing influence of Asian ports on the global stage.

The findings of the report reflect the resilience of the global shipping industry, which has managed to maintain stability despite economic slowdowns, geopolitical tensions, and environmental challenges. Industry leaders continue to emphasize the importance of innovation and collaboration in driving the sector forward, particularly in areas such as decarbonisation and digitalisation, which are seen as crucial for the future development of the global maritime network.