Singapore has once again secured its position as the world’s leading maritime hub according to the latest Xinhua-Baltic International Shipping Centre Development (ISCD) Index. This marks the 10th consecutive year of Singapore’s dominance in this ranking.
The Xinhua-Baltic ISCD Index, jointly published by the Baltic Exchange and China’s Xinhua News Agency, rates Singapore as the foremost maritime center among 43 global hubs. This index assesses various factors such as cargo volume, port infrastructure, maritime services, and the business environment to provide an impartial ranking.
Singapore’s continued success can be attributed to its strategic location, global perspective, and well-established network of professional maritime services, all underpinned by effective governance. Acting Minister for Transport and Senior Minister of State for Finance, Mr. Chee Hong Tat, expressed his gratitude and emphasized Singapore’s commitment to growing its maritime industry, creating employment opportunities, and solidifying its position as a global maritime hub.
Mr. Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore, also acknowledged the contributions of international partners, industry stakeholders, research communities, and unions to this achievement. He highlighted their collaborative efforts in developing Singapore as the preferred International Maritime Centre and reiterated the commitment to fostering an environment that encourages innovation and talent development.
The announcement of Singapore’s top ranking in the Xinhua-Baltic ISCD Index took place during the 2023 North Bund Forum in Shanghai.