Singapore has retained its position as the world’s top maritime centre for the 12th consecutive year according to the Xinhua‑Baltic International Shipping Centre Development (ISCDI) Index, according to the company's release.
The report, compiled by the Baltic Exchange and China’s Xinhua News Agency, benchmarks 43 major maritime centres in terms of cargo throughput, port infrastructure, maritime services (including finance, law and shipbroking), and business environment.
In 2024, Singapore recorded a container throughput of 41.12 million twenty‑foot equivalent units (TEUs), a new high, and vessel arrival tonnage exceeded 3 billion gross tons.
The Port of Singapore also handled 54.92 million tonnes of marine fuel, confirming its position as the world’s largest bunkering port. More than 200 international shipping groups and numerous maritime technology startups and training hubs are located in the city‑state.
Mr Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore, stated: “We thank our industry partners, the research and enterprise community, and our unions who have been instrumental in Singapore’s journey to become a leading international maritime centre and global hub post. We will continue to build on this momentum by innovating and investing in digitalisation, green technologies, and workforce development to strengthen Singapore’s position as a trusted and future‑ready international maritime centre.”
Established in London in 1744, the Baltic Exchange is a maritime market information provider and publisher of freight derivatives. It develops benchmarks like the Baltic Dry Index and, in partnership with Xinhua, produces the annual ISCDI report assessing international shipping centres.
Founded in 1931, Xinhua is China’s state-run news agency. It offers global news coverage and collaborates with international organisations to produce reports including the ISCDI, contributing data and analysis on maritime trends.
Maritime and Port Authority of Singapore (MPA) oversees Singapore’s port and maritime sector. It regulates shipping, manages port operations, advances maritime research and talent development, and drives infrastructure projects such as the fully automated Tuas mega port.