SINGAPORE TOPS BALTIC EXCHANGE/XINHUA SHIPPING CENTRE INDEX FOR SIXTH YEAR RUNNING
Singapore has remained the top international shipping centre for the sixth year running according to Xinhua and the Baltic Exchange annual index which sees no changes in the top eight centres from 2018.
The Xinhua-Baltic International Shipping Centre Development Index first published in 2014 charted a rise of Asian and Middle East shipping centres. In 2014 the top five featured three European cities – London, Rotterdam and Hamburg in second, fourth and fifth places respectively, with Singapore in the top slot and Hong Kong in third.
In 2019 and 2018 the only European centre in the top five was London in third, with Singapore , Hong Kong, Shanghai and Dubai in first, second, fourth and fifth respectively.
Over the last two years sixth to eighth positions have remained the same with Rotterdam, Hamburg and New York – New Jersey. Only the ninth and tenth positions saw any change between 2018 and 2019 with Houston displacing Tokyo in ninth and Athens moving into tenth in place of Busan.
With Singapore remaining in the top slot for the sixth year running Lam Pin Min, Singapore's Senior Minister of State, Ministry of Transport and Ministry of Health commented: “It is a vote of confidence to the quality of services offered by the Port of Singapore, as well as the conducive business environment that facilitates an array of maritime activities in Singapore.”
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