Singapore has retained its place at the top of the Xinhua-Baltic International Shipping Centre Development (ISCD) Index, according to the Baltic Exchange.
In a statement, the Baltic Exchange said the index is based on a series of objective factors including port facilities and throughput, as well as depth and breadth of professional maritime support services.
In the six years, it has been published, there has been a general rise in the performance of Asian and Middle Eastern locations – of the three European hubs in the top five in 2014, London, third this year, is the only one that remains.
Hong Kong, Shanghai and Dubai make up the other best five performers, with Rotterdam, Hamburg, New York-New Jersey, Houston and Athens also present in the top 10.
Lu Su Ling, Head of Baltic Exchange Asia, commented on Singapore’s maritime power: “Singapore commands a strategic position as a maritime hub in the regional and global arena.
“The maritime industry is, and will remain, a big contributor to Singapore’s economy and it is therefore important that we continue to innovate and invest in this sector to achieve long-term success.”
Dr Lam Pin Min, Singapore’s Senior Minister of State, Ministry of Transport and Ministry of Health, reacted: “We are honoured to top the 2019 Xinhua-Baltic International Shipping Centre Development Index for six years running.
“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.
“This would not have been possible without the strong support from the maritime establishments, industry partners and unions.
“We look forward to an even closer working relationship to bring the Singapore maritime industry to even greater heights.”