Singapore’s maritime mantelpiece wants reinforcement, groaning from all of the trophies, accolades and awards lavished in the direction of the Lion Republic, the preeminent transport hub of the twenty first century. In the meantime, an outdated Asian rival, Hong Kong, is sliding down the ranks quick.
Singapore stays the world’s main maritime hub in response to a number of world surveys, the newest of which was unveiled at present at Singapore Maritime Week. The 2024 Main Maritime Cities (LMC) report from DNV and Menon Economics noticed the Lion Metropolis out on high, adopted by Rotterdam and London.
Town-state is predicted to carry this place for the following 5 years, the report maintained.
Fourth and fifth place general went to Shanghai and Oslo. Shanghai has been tipped by the report’s authors to develop in significance throughout the following half-decade and turn out to be the second most distinguished maritime metropolis. Dubai, in the meantime, is predicted to turn out to be a high 5 hub within the coming years.
Hong Kong, which ranked fourth within the 2019 version compiled by DNV and Menon Economics, has now fallen to twelfth place.
The rating mannequin consists of each goal and subjective indicators for the highest 50 maritime cities throughout 5 pillars. Every pillar is weighted equally (a weight of 20%) within the world high 50 metropolis rating. The 5 pillars are: transport, maritime finance and legislation, ports and logistics, attractiveness and competitiveness, maritime know-how – the latter of which was noteworthy for the South Korean port metropolis of Busan being topped high.
Dr Shahrin Osman, co-author of the report, mentioned: “Singapore is undoubtedly the world-leading hub on the forefront of the maritime business. It seems unaffected by the numerous modifications at present sweeping the sector and is predicted to keep up its high spot for the following 5 years by means of its implementation of a constant technique for innovation and its funding into inexperienced transformation and digital applied sciences.”
Singapore was the creator of maritime weeks – going sturdy since 2006, and since copied around the globe. This yr’s version was launched by Chee Hong Tat, Singapore’s minister for transport who mentioned at present that Singapore goals to be a worldwide hub for innovation, dependable and resilient maritime operations, and maritime expertise.
Greater than 50 shipping-related occasions are scheduled throughout the city-state this week.