Singapore, London, and Shanghai were the top three
shipping hubs according to the 2022 Xinhua-Baltic
Exchange International Shipping Centre Development
Index.
As a world leading free trade port, Singapore implements
a free port policy, operating on liberal economic policies in
areas of trade, passage, business establishment, finance,
and employment and allowing most, if not all, foreign
goods to enter and exit the port duty-free. Singapore is
also a leader in shipping services, especially in shipping
brokerage, ship management, shipping finance, and
maritime legal services.
London has a highly developed shipping industry
comprising thousands of large service providers that
provides all types of modern shipping services—
ship registration, ship sale and purchase, shipping
transactions, maritime insurance, maritime financial
derivatives, maritime legislation, maritime litigation and
arbitration, shipping information consultancy, professional
training, and industry exchanges, to name a few. London
particularly excels in maritime legal services and shipping
financial services, being a global leader in both areas.
Thanks to China’s thriving economy and foreign trade,
Shanghai has seen rapid development in its modern
shipping distribution system and steady improvement
in shipping services and business environment. Its
international influence will further rise with the greater
integration of the Belt and Road Initiative (BRI), the
Shanghai Free-Trade Zone, and Shanghai’s international
shipping hub initiative and the implementation of the
Yangtze River Economic Belt and Yangtze River Delta
port integration initiatives. Shanghai has a large shipping
market and a wealth of resources. Its shipping center and
financial center initiatives are individually empowering
and mutually supportive, promising to bring its shipping
services to a higher level.
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