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Singapore retains top spot as international shipping centre

Singapore has kept its position as the world's top shipping hub on the 2021 Xinhua-Baltic International Shipping Centre Development (ISCD) Index for the 8th consecutive year.
Singapore retains top spot as international shipping centre ảnh 1Singapore has consistently led Xinhua-Baltic International Shipping Centre Development (ISCD) Index. (Photo: ST)

Singapore (VNA) - Singapore has kept its position as theworld's top shipping hub on the 2021 Xinhua-Baltic International ShippingCentre Development (ISCD) Index for the 8th consecutive year.

The city-state was followed byLondon (UK), Shanghai (China), Hong Kong (China) and Dubai (United ArabEmirates).

The top five rankings wereunchanged from the previous year, despite the COVID-19 pandemic-induced drop in global trade and businessdisruption in 2020, the Baltic Exchange, a global maritimemarket data provider, said in a statement on July 11.

The ISCD Index, part of the annual Xinhua-Baltic Report, ispublished by the exchange in collaboration with China’s Xinhua News Agency.

The index provides an independentranking of the performance of the world's largest cities that offer port andshipping business services.

Singapore has consistently led theindex, thanks to the size of its port, number of internationally focusedshipbrokers, financiers, lawyers and insurers based here, and supportivegovernment policies, according to the Xinhua-Baltic Report 2021.

Senior Minister of State for Transport Chee HongTat said as the world’s busiest container trans-shipment and bunkering hub, thePort of Singapore has done well to support global seaborne trade during thispandemic.

Singapore’s international maritime centre remains a vibrantmarketplace centred on a strong core of shipping companies and a comprehensivepool of maritime services such as shipbroking, marine insurance, ship financingand maritime law and arbitration, he said./.

VNA
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