Date
12 December 2017
Singapore port leads other shipping centers in maritime services, port facilties and overall environment. Photo: HKEJ
Singapore port leads other shipping centers in maritime services, port facilties and overall environment. Photo: HKEJ

Singapore named best shipping hub

Singapore is the world’s best shipping hub, according to the latest Xinhua-Baltic Exchange International Shipping Center Development Index, the Hong Kong Economic Journal reported on Friday.

Hong Kong and Shanghai ranked third and seventh, respectively, while London was second on the list compiled by Baltic Exchange and a research institute of China Finance Corporation. Also making it to the top 10 shipping centers are Rotterdam (4), Hamburg (5), Dubai (6), Tokyo (8), New York (9) and Busan (10).

The index was compiled based on three criteria, namely maritime services, overall environment and port facilities. Half of the weighing was given to maritime services, including brokerage, engineering and insurance, while 20 percent was given to port facilities and the remaining 30 percent to overall environment.

Shanghai remained the world’s busiest container port in 2013 for the fourth consecutive year, with container throughput growing 3.3 percent to 33.6 million TEUs, Marcus Lee, chief representative in China of the Baltic Exchange, was quoted as saying.

The port is expected to improve further in maritime services amid a faster pace in internationalization and continuous growth in foreign trade in Asia, Lee said.

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Freelance journalist

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