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Singapore: King of the Seas?

Singapore: King of the Seas?

The latest DNV Leading Maritime Cities report reveals some interesting trends in the global maritime industry. While some cities held onto their crowns, others showed significant progress, and a new contender emerged.

The report ranks cities based on five key factors: shipping centers, finance and law, technology, ports and logistics, and attractiveness and competitiveness. This year, green technology factors were included for the first time.

Singapore emerged victorious, taking the top spot for the overall ranking. They dominated three categories – attractiveness, ports, and shipping centers – and placed within the top five for technology and finance. Industry experts attribute Singapore’s success to a combination of government support, continuous business modernization, and a shift in global trade towards Asia.

The top four remained unchanged from the previous report, with Rotterdam, London, and Shanghai following Singapore. However, the rest of the top ten saw a shakeup. Oslo, New York, Hamburg, and Copenhagen climbed the rankings, while Busan entered the top ten for the first time.

Hong Kong’s fortunes took a downturn, dropping from fourth in 2019 to twelfth this year.

The Middle East is making waves in the maritime world. Abu Dhabi saw a dramatic rise from 32nd to 22nd place, fueled by strategic government policies and investments. Dubai is also predicted to climb into the top five within a few years.

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While Athens retained its number two position for shipping centers due to its large and growing fleet, the report highlights a perception that it primarily caters to local companies. As a result, experts are placing their bets on Singapore and Dubai as preferred hubs for international shipping activities.pen_sparktunesharemore_vert

MMJ News Desk
Author: MMJ News Desk

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