Singapore remains at the top of the International Shipping Centre Development (ISCD) Index for the fifth consecutive year. The index covers 43 of the world's largest ports and cities and is published today by the Baltic Exchange and Xinhua, China's news agency.
The Asia-Pacific region amounts for 50% of the top 10, with three of those centres being in the top four. Singapore is still in the top due to the 'Belt and Road' initiative. Hong Kong overtook London for the first time in five years, going to second place. However, London is still the top professional maritime services location.
Shanghai moved to fourth place because of its developing shipping logistics and shipping services systems, as well as the development of its regional shipping counterparts. Tokyo is still in ninth position, while Busan made it to the top ten, overtaking Athens.
The weak economy in Europe played a significant role in Hong Kong surpassing London, while Hamburg dropped to seventh. However, Rotterdam jumped two places, going to sixth due to improved operating efficiency.
In addition, Dubai maintained fifth, with New York dropping from seventh to eighth.
As for the top ten port cities with the best professional shipping services are in 2018, these are:
- Hong Kong;
- New York-New Jersey;