10 Apr 2019
Singapore Recognised as Top Leading Maritime Capital of the World for Fourth Consecutive Time
Singapore has secured the top spot in the Leading Maritime Capitals of the World 2019 (LMC) report. Developed by DNV GL and consultancy firm Menon Economics, the fourth edition of the LMC report was unveiled earlier this morning during Singapore Maritime Week 2019. Singapore has been ranked first in the past three editions of the LMC report, since 2012.
2 The LMC report assesses a total of 15 maritime capitals across five pillars – Shipping, Maritime Finance and Law, Maritime Technology, Ports and Logistics, Attractiveness and Competitiveness. Under each pillar, a comprehensive set of indicators was used to benchmark the maritime capitals.
3 This year, Singapore retained the top position in three pillars – namely Shipping, Ports and Logistics as well as Attractiveness and Competitiveness.
4 Ms Quah Ley Hoon, Chief Executive of the Maritime and Port Authority of Singapore said, “To be once again recognised as the leading maritime capital that provides the full range of support, in terms of infrastructure and talent, is an affirmation of Singapore’s commitment to develop and grow the maritime industry. Singapore will continue to deepen our efforts to drive connectivity, innovation and talent. We thank our partners and stakeholders for their continued support and look forward to working closely with them to foster a close-knit eco-system for Singapore’s maritime industry.”
5 The 200 maritime experts who took part in this LMC report predicted that Singapore would continue to retain its top position in the next five years, but highlighted stronger competition from other maritime capitals.
6 The LMC report also highlighted 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 affirm its relevance as a critical node within the maritime sector regionally and globally.
7 The Port of Singapore remains one of the world’s busiest ports – it sustained its overall growth in 2018, with container throughput hitting 36.6 million twenty-foot equivalent units (TEUs) and vessel arrival tonnage reaching 2.79 billion gross tonnes (GT).
8 Through the Sea Transport Industry Transformation Map (ITM), MPA is partnering industry stakeholders to bring the industry to a new height. The ITM seeks to strengthen the country’s connectivity and inter-linkages, develop a vibrant maritime innovation ecosystem and build a future-ready and skilled maritime workforce.