Singapore maintained its position as the most important shipping hub in the Asia-Pacific region, ranking first for seven consecutive years, a new index shows.
The 2020 Xinhua-Baltic International Shipping Centre Development (ISCD) Index has been published by the Baltic Exchange, in collaboration with Xinhua, the Chinese state news agency.
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.
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 latest report shows that the top five international shipping centres remain the same as in 2019, although with some movement. Singapore tops the list for the seventh consecutive year followed by London, Shanghai, Hong Kong and Dubai.
As explained, Singapore once again ranked first thanks to its geographical location, shipping industry ecosystem and supportive government policies.
Imformation source: World Maritime News
Image Courtesy: TTG ASIA