Report from Menon Economics and DNV GL predicts Dubai will climb into the top five by 2024.
Singapore maintained its No. 1 position in the list of the 15 leading maritime capitals in a newly released report.
“Despite a somewhat weak trade cycle in traditional shipping and offshore oil and gas markets yet to recover, Singapore was able to retain its lead in three of the five pillars of the ranking: shipping, ports and logistics as well as attractiveness and competitiveness,” said a press release for The Leading Maritime Capitals of the World 2019, put out by Menon Economics and DNV GL.
London was No. 1 in maritime finance and law, and Oslo was tops for maritime technology, according to the report.
In the overall rankings, Hamburg maintained the No. 2 spot, while Oslo dropped from third to seventh. Rotterdam and Hong Kong showed the biggest improvement, climbing to third and fourth, respectively. London rounded out the top five. Shanghai came in at No. 6.
“Maritime Singapore’s continuous effort to strengthen its attractiveness as an international maritime center has been well received by the industry,” said Shahrin Osman, regional head of maritime advisory for DNV GL. “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.”
Erik W. Jakobsen, a partner at Menon Economics, said a new indicator in the 2019 report “is connected to the tremendous sustainability challenges of the oceans. According to the 200 maritime experts in the study, Oslo stands out as the main center for ocean technologies and solutions, with a higher score than the combined value of the three next in the rank — Singapore, Copenhagen and Rotterdam.”
Two hundred business executives, primarily shipowners and managers, from all around the globe were called upon to respond to the survey. About 40 percent are based in Europe, 30 percent in Asia and the remaining 30 percent in America, the Middle East and Africa.
Asked to look five years into the future, the survey respondents predicted Singapore would retain its top position but would face stronger competition from Shanghai. Dubai is predicted to climb into the top five by 2024.