Photo: The launch of 2018 Xinhua-Baltic International Shipping Center Development Index
SHANGHAI, July 14 (Xinhua) -- East China’s Shanghai ranked fourth among the international shipping centers, thanks to rapid development of its modern shipping logistics system and shipping services system, and coordinated development of its regional shipping counterparts, according to an index report recently released by China Economic Information Service (CEIS) of Xinhua News Agency and the Baltic Exchange.
Singapore, Hong Kong and London remain the top three international shipping centers, followed by Shanghai and Dubai, which indicates a strong growth trend in the Asia-Pacific region, said the report.
The index report covers 43 of the world’s largest ports and cities and is designed to bring clarity to investors and governments on the performance of the shipping centers around the world.
Photo: Change trend of the top ten international shipping centers from 2014 to 2018
According to the results of the general evaluation of international shipping centers in 2018, the top ten are Singapore, Hong Kong, London, Shanghai, Dubai, Rotterdam, Hamburg, New York, Tokyo and Busan, respectively.
Singapore maintains its leading position for four consecutive years. Thanks to strategic opportunities brought about by the Belt and Road Initiative, Hong Kong overtook London – for the first time in five years – to take the second place.
Compared with the emerging competitors in the Asia-Pacific region, the traditional international shipping centers in Europe and America remain low in the ranking list. London, Hamburg and New York have slipped, Rotterdam being the only exception.
Mark Jackson, CEO of the Baltic Exchange, highly appreciated the improvement achieved by the Asian cities.
He said that location is an important ingredient for success in the shipping industry and plays an important role in dealing with the latest challenges. Chartering decision once made in Europe are now being made in Shanghai,Singapore and Hong Kong and by the Asian shipowners.
In 2014, the “Xinhua-Baltic International Shipping Center Development Index” was introduced to the world for the first time.