Singapore has been ranked as the top global shipping centre for the eighth year running, a new report found.
As explained, 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.
This was revealed in the Xinhua-Baltic International Shipping Centre Development Index, published by the Baltic Exchange and Xinhua.
“Singapore is honoured to once again top this … index of global maritime locations. It is an effort of not one but an eco-system of many strong partners. The strong support from our port operators, industry partners, associations and unions has enabled Maritime Singapore to serve the needs of the sector and play its part to keep the global supply chain running amidst the COVID-19 pandemic,” Quah Ley Hoon, Chief Executive of the Maritime and Port Authority of Singapore (MPA), commented.
“We will continue to work closely with our partners to provide a comprehensive suite of marine services, as well as a supportive business environment for shipping and maritime services. This includes supporting the industry on its immediate challenges facing seacrew, and its transformation along digitalisation, decarbonisation and capability development.”
Source: World Maritime News