Top Spot as the Maritime Capital of the World
Singapore does it again
Singapore has successfully retained the top spot as the maritime capital of the world for the third year running.
According to the third edition of Menon’s Leading Maritime Capitals of the World Report, Singapore was ranked tops in the following three categories – shipping; ports and logistics; and attractiveness and competitiveness.
The report, by Norwegian consultancy firm Menon Economics, looked at 24 objective indicators and garnered survey responses from more than 250 industry experts across all continents.
It was launched at the Singapore Maritime Week 2017 recently. Singapore was also ranked first in 2012 and 2015 by the study.
The second and third places went to Hamburg and Oslo, while Shanghai came in fourth.
Singapore came in second place in maritime technology where it ranked fifth previously and took the fourth spot in finance and law.
Andrew Tan, Chief Executive of Maritime and Port Authority of Singapore (MPA), said the maritime nation was deeply honoured yet humbled by this recognition from the international maritime industry.
“This will spur us to work harder to make Maritime Singapore a global maritime hub of choice. We are truly grateful to all our partners and stakeholders for walking with us every step of the way” he said.
In making predictions about the world’s leading maritime capitals five years ahead, the majority of industry experts surveyed shared a consensus that Singapore will remain the most important city, with many believing that the country has strong capabilities to handle digital transformation in the maritime industry.
Singapore’s offering as an international maritime centre continues to grow, with more than 140 shipping companies represented in Singapore and new companies continuing to establish their presence here.
In the ranking’s shipping, and ports and logistics categories, Singapore emerged first due to its strategic geographic location, as well as its position as an important centre for commercial management and the world’s second largest port, said the report.
The Port of Singapore also remains one of the world’s busiest ports, sustaining its performance in 2016, when vessel arrival tonnage increased by 6.3 per cent to 2.66 billion gross tonnes.
According to Esben Poulsson, president of the Singapore Shipping Association, Singapore’s continued dominance is due in part to its continued innovation and its strong maritime services environment, which includes legal insurance and shipbroking.
To ensure that Singapore remains a leading maritime hub, the MPA is driving the Sea Transport Industry Transformation Map (ITM) with industry stakeholders, to drive innovation and productivity, and equip the local maritime workforce with necessary skills to take on higher value-added jobs of the future.
Singapore ranked top in overall attractiveness and competitiveness due to the ease of doing business and customs procedures.
In conclusion, the report stated that Singapore was one of the three most attractive cities in the world for relocating their headquarters and also identified it as one of the maritime capitals most prepared and ready to adopt digitalisation.