Singapore tops global ISCDI port rankings for 11th consecutive year

Singapore has topped the global rankings in the Xinhua-Baltic International Shipping Centre Development Index (ISCDI) Report for the 11th year in a row. London, which came in second place, did so for the 5th consecutive year.

Shanghai came in 3rd place, securing a 5th straight year on the podium, followed by Hong Kong, who have come 4th place for 5 years in succession.

Dubai were ranked 5th, a place it has held since 2018, while Rotterdam, Athens/Piraeus, Ningbo-Zhoushan, Hamburg, and New York/New Jersey made up the top 10.

What is it that makes these ports successful? In this piece, we’ll briefly explain the criteria used in the ISCDI rankings, and sum up the findings the report offers on all the ports ranked in the top 10.

The Xinhua-Baltic International Shipping Centre Development Index (ISCDI) rankings, 2015-2024

How are the rankings calculated?

In order to determine these port rankings, the authors of the annual report take into account numerous factors including throughputs, numbers of container berths and cranes, as port draught, availability of services, customs tariffs, Government administration and transparency, logistics performance, and the ease of doing business.

What are the top ten excelling in?

Singapore – record container throughput and new shipping corridors

Singapore has retained its position as the “undisputed maritime capital of the world” for the 11th consecutive year, says the ISCDI report.

The port’s continued top-ranking status follows achievements made last year that were described as , “nothing short of remarkable”.

These include record container throughput of 39.01 million TEU, as well as the opening of additional berths courtesy of the Tuas Port project, which contributed significantly to the aforementioned growth.

In addition to this, the ISCDI report highlights Singapore’s decarbonisation efforts, with innovations like the world’s first ship-to-containership methanol bunkering operation coming on stream last year. The port’s commitment to alternative fuels was also praised, with the report highlighting extensive staff training, as well as the example of Fortescue’s dual-fuel ammonia supply vessel becoming the first to undergo an ammonia bunkering operation in the city-state.

Moreover, the report states that the Maritime and Port Authority of Singapore (MPA) has further strengthened its global role by establishing multiple Green and Digital Shipping Corridors.

“As the global shipping industry continues its decarbonisation efforts, Singapore has positioned itself as a hub for the development and adoption of alternative bunker fuels, paving the way for a more sustainable maritime future. With its unwavering commitment to innovation, sustainability, and global leadership, the city-state stands tall as the undisputed maritime capital of the world, setting the pace for the industry and inspiring others to follow in its footsteps,” reads the report.

London – leads the way in services

As far as London is concerned, the ISCDI report describes the English capital city as the continued global leader in maritime professional services, including ship finance, insurance, and arbitration.

In addition to this, the report underlines how London continues to be home to some of the world’s most renowned shipbrokers, insurers and legal practices.

In terms of sustainability, the report also cites the UK government’s Maritime 2050 strategy, which is focused on decarbonisation and innovation, and has led to significant investments in sustainable maritime technologies.

London’s strength also lies in its legal framework, claims the report, which refers to institutions like the London Maritime Arbitrators Association (LMAA) and Lloyd’s Register as having helped maintain the city’s prominence in the global shipping industry.

On top of this, the report highlights the success of London Gateway, which “continues to thrive as a centre for a diverse range of cargo”.

“In 2023, the Port of London Authority reported that it handled more than 51.6 million tonnes of cargo across its more than 70 different terminal operators, with London Gateway one of the leading terminals in the United Kingdom. Overall, London handled over 12% of all UK cargo traffic in 2023, beating Grimsby & Immingham, Milford Haven and Southampton,” states the ISCDI report.

Shanghai – the world’s busiest container port

Shanghai, which came in 3rd place in rankings, continues to be the world’s busiest container port, handling over 49.16 million TEU in 2023.

According to the report, the Port of Shanghai benefits from its strategic location near the Yangtze River and its state-of-the-art facilities, including the Yangshan Deep Water Port, which saw significant growth.

The integration of digital technologies and a focus on sustainability, such as green shipping corridors, have also said to bolster Shanghai’s role as a critical global trade hub.

“The Port of Shanghai’s business performance in 2023 highlights its critical role in global trade and its ability to adapt to changing market conditions. Through continuous investment in infrastructure, technological innovation, and sustainable practices, the port not only maintained its leadership position but also set new benchmarks for efficiency and environmental stewardship in the maritime industry. As global trade dynamics evolve, the Port of Shanghai is well-positioned to continue driving economic growth and facilitating international commerce,” says the Xinhua News Agency, in its report.

Hong Kong – high throughput, maritime services and key location

Elsewhere in the region, 4th-placed Hong Kong is described in the report as an important maritime centre in Asia.

According to the ISCDI report, Hong Kong provides extensive services like ship finance and arbitration, and despite stiff regional competition, continues to rank among the highest globally in container throughput.

The report notes that Hong Kong’s strategic location and robust service offerings make it a key gateway for trade in Asia, while the port is also exploring numerous infrastructure projects, including a deep water port that would look to accommodate 22,000 TEU box ships, very large crude carriers and 400,000 dwt valemax ore carriers.

“While overall container throughput for Hong Kong’s port in 2023 was 14.345 million TEU, this figure has catalysed a response from both industry and government. The past decade has seen Hong Kong’s maritime sector evolve in response to increased regional competition and global events, positioning the territory to emerge stronger and more competitive,” the report says.

Dubai – strong growth and integrated logistics

Dubai, which ranked the highest of any port city in the Middle East, saw strong growth at Jebel Ali Port in 2023, where over 14.47 million TEU of freight was handled.

The ISCDI report credits Jebel Ali Port’s adaptability to evolving trade routes, while its strategic location is also said to have cemented its position as a leading global hub – particularly for oil shipments.

Moreover, the report underlines Dubai’s continuing focus on integrated logistics and sustainability. In the case of the former, port operator DP World is doubling down on its worldwide integrated maritime, logistics and supply chain capabilities with the aid of US$2 billion in capital expenditure. As for the latter, the report states that the UAE has pledged more than US$500 million towards reducing carbon emissions over the next five years in pursuit of net zero emissions by 2050.

“Aside from environmental leadership, Dubai has swiftly solidified its status in 2023 as a nerve centre for integrated logistics and supply chain solutions engineered to enhance trade efficiency and connectivity along strategic worldwide freight corridors,” say the authors of the report.

Rotterdam – sustainability and digitisation initiatives

Rotterdam remains Europe’s largest maritime hub, says the report, which also praises the Dutch port’s focus on sustainability and digital transformation.

Despite challenges like reduced demand for coal and geopolitical instability, Rotterdam has been praised for maintaining strong performance with significant investments in green energy projects like the Porthos CO2 storage facility.

Last year, CO2 emissions within the port precinct fell by 10% compared to 2022. This was thanks to a 38% emissions reduction at the two coal-fired power plants on Maasvlakte that produced 20% less electricity from fossil sources.

In terms of volumes, the port handled approximately 13.4 million TEU, reinforcing its role as Europe’s key container hub.

“While overall throughput fell, Rotterdam maintained its status as Europe’s key container hub with total box movements of 13.4 million TEU in 2023. Its position was boosted by expansion investment commitments from major operators APM Terminals and Rotterdam World Gateway. The new Container Exchange Route, a closed 17 km road network linking terminals, also enhanced the port’s efficiency and sustainability,” the report states.

Athens/Piraeus – improved operational efficiency and service offering

Meanwhile, in the south of Europe, 7th-placed Athens, specifically the Port of Piraeus, was credited in the report with its continued growth as a vital gateway for Southeast Europe.

The report states that Piraeus remains a significant hub for ship management and finance, supported by Athens’ role as a global centre for these services.

Moreover, the port’s strategic location is said to allow it to capture a considerable share of regional trade, ensuring its place among the top global maritime hubs.

Another key development has been the role of COSCO, which took a majority stake in the port 8 years ago:

“A transformative milestone was the acquisition of a majority stake by the China Ocean Shipping Company (COSCO) in 2016. Under COSCO’s management, Piraeus has improved operational efficiency, increased container handling capacity, and expanded services, making it a competitive global port. Strategic initiatives at Piraeus include developing logistics centres, expanding its rail network, and enhancing intermodal transport options. These efforts aim to reinforce the port’s status as a leading logistics hub in Europe, facilitating the seamless movement of goods across the continent,” says the ISCDI report.

Ningbo-Zhoushan – infrastructure and rail connectivity

In 8th place comes China’s Ningbo-Zhoushan, which the report describes as having impressive growth in 2023, with an annual throughput of over 33 million TEU.

The report states Ningbo-Zhoushan’s expansive infrastructure, including deep-water berths and over 300 container routes, has made it a key player in global trade.

In addition to this, investments in rail connectivity and green practices are said to have further enhanced the port’s operational efficiency and environmental sustainability.

“In 2023, the Port of Ningbo-Zhoushan showcased remarkable resilience and operational efficiency amid global economic fluctuations and supply chain disruptions. The port maintained its position as the third-busiest port in the world, with a significant throughput of 33,351,000 teu, reflecting a 7.3% increase from the previous year,” the authors of the report state.

Hamburg – focus on digital transformation and sustainability

Hamburg, the 3rd-highest ranked European port city on the list, faced challenges in 2023 due to economic headwinds and geopolitical tensions, says the ISCDI report.

Despite these difficulties, the report credits Hamburg Port with maintaining a strong position after handling approximately 8.3 million TEU in 2023.

Moreover, the report underlines Hamburg’s continued focus on digitalisation and sustainability, with initiatives like the Hamburg-Halifax green shipping corridor, as well investments in alternative fuel infrastructure, contributing to the latter.

“The Port of Hamburg navigated a challenging yet dynamic year in 2023. Through strategic initiatives, technological advancements, and a focus on sustainability, the port demonstrated resilience and adaptability. While facing external pressures such as geopolitical tensions and global economic shifts, it continued to serve as a vital gateway for international trade and a cornerstone of the German economy. Looking ahead, the port’s commitment to innovation and green practices positions it well to meet future challenges and capitalise on emerging opportunities,” stresses the report.

New York/New Jersey – ability to handle congestion

Finally, rounding up the top 10 comes the Port of New York and New Jersey, which handled nearly 9.5 million TEU last year.

According to the ISCDI report, the port benefitted from post-pandemic consumer demand and infrastructure upgrades, such as the Bayonne Bridge raising.

The report also stresses the role of the New York Stock Exchange, which remains a vital part of the maritime sector thanks to it being home to over 40 major shipping companies. New York’s strengths in private equity, maritime services are also covered in the report, as are the port’s efforts to increase container traffic via modernisation.

“The ports handled close to 9.5 million teu in 2023, marking a significant rise from previous years. This growth can be attributed to several factors, including the resurgence of global trade post-pandemic, increased consumer demand, and strategic operational improvements. The port authority’s six vehicular crossings also serviced 122.6 million eastbound vehicles through 2023, an increase of 1.6% year on year. The ports have successfully managed recent congestion issues, which have plagued many global ports, through enhanced coordination and investment in infrastructure,” the report reads.

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