Port of Singapore continues to be the world's No. 1 maritime hub for the eighth consecutive year

The Port of Singapore continues to maintain its leading position according to the Xinhua-Baltic International Shipping Center Development (ISCD) Index as the world's No. eighth year in a row.

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Port of Singapore (Photo: Phaata)

Out of a total of 43 marine hubs assessed, the Port of Singapore achieved the highest score with 97.2 points out of 100. The average score for a hub was 58.8 points.

The Port of London, in second place, has a score of 82.6 points.

This ISCD index is published by China's Xinhua News Agency and global maritime data provider Baltic Exchange. The index is an independent ranking of the performance of 43 cities that provide port and shipping services.

The Maritime and Port Authority of Singapore (MPA) on Sunday said the ranking looked at factors including cargo throughput, port infrastructure, maritime services and the environment. business school. "Singapore is ranked first, based on its robust port infrastructure, a comprehensive range of maritime services and supportive government policies," the MPA added.

Senior Transport Minister Chee Hong Tat said: "As the world's busiest container trans-shipment and bunkering hub, the Port of Singapore has done well to support global seaborne trade during this pandemic."

"Our international maritime centre remains a vibrant marketplace centred on a strong core of shipping companies and a comprehensive pool of maritime services such as shipbroking, marine insurance, ship financing and maritime law and arbitration. I thank our maritime companies and unions for their strong partnership in growing Singapore's maritime sector amidst a very challenging year."

A statement released by the Baltic Exchange said that Singapore has been rated as the top spot in the 2021 ranking due to the size of the port, the number of shipping brokers, financial firms, lawyers and public servants internationally focused insurance company based here and government-supported policies.

"Despite the sharp decline in global trade and business disruption in 2020 due to the pandemic, the ranking of the world's top seaports remains unchanged." "London, Shanghai, Hong Kong and Dubai are the next four maritime hubs, the same as last year."

The Port of Rotterdam is in sixth place, followed by the Port of Hamburg, Athens / Port of Piraeus, Port of New York / New Jersey and Port of Ningbo.

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Singapore Port at night (Photo: Phaata)

Compiling the latest rankings, the Baltic Exchange says the top 10 hubs have remained virtually unchanged since 2020, despite the impact of Covid-19. The structure of this ranking is: there are 4 maritime centers in Asia, 4 maritime centers in Europe, 1 maritime center in the Middle East and 1 maritime center in the United States. Asia accounts for three of the top five, with China's Ningbo replacing the port of Tokyo in the top 10.

Factors taken into account in this ranking of maritime hubs include: :

- Cargo throughput, number of cranes, container berth length and port draft;

- Number of businesses supporting maritime activities such as: ship brokerage, ship management, ship financing, insurance and law; and

- General business environment factors such as tariffs, service and management levels of e-government, ease of doing business and logistics efficiency.

Source: Phaata.com (According to The Business Times)

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