Singapore the leading maritime capital, report notes
DNV GL in cooperation with Menon Economics published the report "The Leading Maritime Capitals 2019". The report provides insight on which maritime cities provide the best support for companies in shipping and related services. Singapore retained the first position from 15 maritime capitals.
DNV GL in cooperation with Menon Economics published the report "The Leading Maritime Capitals 2019". The report provides insight on which maritime cities provide the best support for companies in shipping and related services. Singapore retained the first position from 15 maritime capitals.
In spite of a weak trade cycle in traditional shipping and offshore oil and gas markets, Singapore ranked first in three of the five pillars of the ranking:
- Shipping;
- Ports and Logistics;
- Attractiveness and Competitiveness.
In the two remaining pillars, London reached the first position in Maritime Finance & Law, with Oslo being number one in Maritime Technology.
Overall, Hamburg is in number two, while Oslo dropped from third to seventh. In addition, Rotterdam and Hong Kong showed the biggest improvement, as they climbed to third and fourth place respectively, with London rounding out the top five, and Shanghai at number six.
Shahrin Osman, Regional Head of Maritime Advisory, DNV GL, noted on the occasion:
"Maritime Singapore’s continuous effort to strengthen its attractiveness as an international maritime centre has been well received by the industry. The strong results on both the objective indicators and expert assessments indicate its relevance as a critical node within the maritime sector regionally and globally"
The 2019 report includes some new and more comprehensive objective and subjective indicators as well as data sources to ensure that the analysis is based on reliable and complete data for the various cities. These data allow for a more refined benchmarking of the relative performance of each city.
One of the new indicators regards the sustainability challenges of the oceans. According to the 200 maritime experts in the study, Oslo is the main centre for ocean technologies and solutions, with a higher score than the combined value of the three next in the rank, namely Singapore, Copenhagen and Rotterdam, Erik W. Jakobsen, partner in Menon Economics, explained.
Finally, when asked to look five years into the future, the experts expert that Singapore will retain its top position, but it will have stronger competition from Shanghai, and Dubai, which could climb into the top five overall by 2024.
Hamburg, Rotterdam, London and Oslo are expected to retain a strong presence in Europe.
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