07/12/2019 | News release | Distributed by Public on 07/11/2019 19:29
Shanghai ranked fourth as an international shipping center once again with only Singapore, Hong Kong and London ahead of it, the latest Xinhua-Baltic Exchange International Shipping Center Development Index released yesterday showed.
Singapore topped the index for its port facilities, maritime services and overall environment.
Other coastal cities in China that made it into the top 30 global shipping hub list are Zhoushan, Guangzhou, Qingdao, Dalian, Shenzhen, Tianjin, Xiamen and Kaohsiung.
They were credited for their good overall performances.
The 2019 index showed that shipping centers of emerging economies in the Asia-Pacific region continue to rise.
While Singapore remains ahead, the gap between Hong Kong and London in terms of shipping development has narrowed.
The shipping development in Shanghai and Dubai, two important emerging economic cities, has increased greatly thanks to their rapidly developing modern maritime collection and distribution system, continuous rising shipping service, the driving power of free trade zones, and improved business environment, the index noted.
In Shanghai, the fourth phase of the Yangshan Deep-Water Port was completed in December 2018, with a berthing capacity of 150,000 tons.
The highest throughput of the port reaches 14,451 TEU (20ft equivalent unit) daily, and its yearly throughput is expected to surpass 2 million TEU.
Rotterdam and Hamburg are also in the top 10 list. A total of 43 international port cities were evaluated.
The rankings from 2014 to 2019 show that the development of global shipping centers has remained stable with generally eastward trend.
Shipping centers in Asia are very competitive and continuously growing, said Cao Zhanzhong, a chief economics analyst at the China Economic Information Service.
London and Singapore lead in shipping services, said Cao. London is strong in shipping finance and law, while Singapore has advantages in its broker services and ship management, he added.
The global shipping industry is experiencing profound changes. Major coastal ports in China are expanding cooperation with Belt and Road countries and regions by continuously optimizing the open and efficient port business environment that can only be good for development of global shipping industry.