London
The Baltic Exchange and Xinhua News Agency have released the 2024 Xinhua-Baltic International Shipping Centre Development Index Report, recognizing Singapore as the world’s top shipping hub for the 11th consecutive year. The report highlights the resilience and stability of the global maritime industry amid ongoing challenges.
The Baltic Exchange, in collaboration with Xinhua News Agency, has unveiled the 2024 Xinhua-Baltic International Shipping Centre Development Index (ISCDI) Report, which ranks the world’s leading shipping centres. Singapore has maintained its position as the top global shipping hub for the 11th consecutive year, achieving an impressive score of 96.23 out of 100. The island nation’s success is attributed to its strategic location, a robust international outlook, and a well-established ecosystem of professional maritime services. London and Shanghai also continued their strong performance, securing second and third place respectively, reflecting their crucial roles in the global maritime industry. These cities, along with other top contenders like Hong Kong and Dubai, highlight the stability and sustained performance of the leading shipping centres despite the numerous challenges faced by the maritime sector in recent years.
The 2024 ISCDI Report underscores the resilience of the international shipping industry amid ongoing global challenges, including economic slowdowns, geopolitical tensions, and environmental concerns. Despite these hurdles, the maritime sector has demonstrated remarkable stability, maintaining its critical role in facilitating global trade. The report also notes that the rankings have remained relatively stable, with the top 10 shipping centres showing little change from the previous year. This consistency highlights the enduring strength and importance of these hubs in the global supply chain. The report further emphasizes the increasing focus on decarbonisation and digital technologies within the industry, which are driving ports to become more efficient, smarter, and sustainable in the face of evolving global demands.
By Priyadharshini
