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Xinhua Silk Road: Dev’t index witnesses progress of int’l shipping center construction in Shanghai

BEIJING, Sept. 25, 2023 /PRNewswire/ — The 2023 Xinhua-Baltic International Shipping Center Development Index Report was released at the North Bund Forum opening Friday in Shanghai, and Shanghai ranked third […]

BEIJING, Sept. 25, 2023 /PRNewswire/ — The 2023 Xinhua-Baltic International Shipping Center Development Index Report was released at the North Bund Forum opening Friday in Shanghai, and Shanghai ranked third globally for the fourth consecutive year.

Photo shows the top ten of the Xinhua-Baltic International Shipping Center Development Index over the years.

Jointly launched by China Economic Information Service and the Baltic Exchange in 2014, the Xinhua-Baltic International Shipping Center Development Index is known as the “weather vane” and “barometer” of the international shipping industry.

Over the past decade, the pattern of international shipping centers has changed significantly. According to the 2023 Index Report, six Chinese cities were among the top 20, with their overall ranking all improving greatly from a decade ago.

Data showed that the container throughput of Shanghai Port has achieved 13 consecutive crowns, and according to the liner shipping connectivity index released by the United Nations Conference on Trade and Development, Shanghai Port has ranked first globally for 12 consecutive years.

As the leader and hub of the Yangtze River Economic Belt, Shanghai has the world’s largest container port, business-friendly policies, and highly-educated population, making it a premier international shipping center, said the 2023 Index Report.

High-end shipping services are improving in Shanghai. The shipping service evaluation results in the 2023 Index Report showed that Shanghai ranked third globally for the fifth consecutive year.

In terms of segments, only London, Singapore and Shanghai ranked in the top five in all segments, and Shanghai all ranked fourth in shipping brokerage, maritime law and shipping finance. At present, most of the top shipping companies and organizations have set up branches in Shanghai, such as Bernhard Schulte Shipmanagement and the Baltic Exchange.

The 2023 Index Report evaluated that the shipping brokerage service resources in Shanghai have gradually become prominent, providing adequate financial service support for the region, and setting up a new flag of international maritime dispute settlement.

As is planned, by 2035, Shanghai will be fully built into an international shipping center with a highly-developed modern shipping service system, leading the innovative development of global shipping services, deeply integrated into the international shipping governance system, and capable of allocating global shipping resources.

Besides, as is planned, by 2025, the development level of digital intelligence and low-carbon development capacity of Shanghai international shipping center will reach the international advanced level.

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