The Xinhua-Baltic International Shipping Centre Development Index, published by Chinese news agency, Xinhua, and global maritime data provider, the Baltic Exchange, has ranked Singapore as the top global shipping centre for the eighth year running.
The index is an independent ranking of the performance of locations around the world that provide port and professional services to the shipping industry.
Singapore has been rated as the top location due to the size of its port, number of internationally-focused shipbrokers, financiers, lawyers and insurers based there and its supportive government policies.
Despite a significant drop in global trade and business disruptions in 2020due to the pandemic, the relative positions of the world’s leading maritime centres have remained unchanged. London, Shanghai, Hong Kong and Dubai were the next four strongest centres, as they were the prior