Logistics News | Singapore Come First In Shipping Centres

Author Name: Tiffany Lee – Marketing Analyst at FreightAmigo｜14/7/2022

According to 2022 Xinhua-Baltic International Shipping Centre Development Index Report, Singapore takes first place with a total score of 94.88, which has secured the top spot of shipping centre for the ninth consecutive year. London takes second place with 83.04 points, while Shanghai, the largest port in the world, takes the third place with 82.79 points. Gap with Singapore and London are narrowed compared with last year. With a total score of 79.15, Hong Kong takes fourth place for the third year running.

This report has grown into a significant indicator for the development of global shipping centres. A total of 43 maritime locations were evaluated in this report, considering port factors including cargo throughput, number of cranes, length of containers berths and number of participants of specialized maritime support business etc. General environmental factors, such as tariffs, scope of electronic government services and logistics performance were also taken into consideration.

According to this year’s report, New York/ New Jersey moved up from ninth to eighth place. The was because logistics companies shifted their cargo to the port of New York/ New Jersey to avoid port congestion on the west coast. This results in an exceptionally robust TEU uptick in 2021 for New York/ New Jersey port.

Finally, Baltic Exchange Chief Executive Mark Jackson stated that a successful shipping centre is ultimately also a successful global city. The success of these top ten shipping centres is primarily dependent on the collaboration across different sectors of the shipping industry.

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