Shanghai overtakes London in global shipping centre rankings

Shanghai has risen to second place in the 2026 Xinhua-Baltic International Shipping Centre Development Index (ISCDI), overtaking London for the first time, while Singapore retained its position as the world's leading international shipping centre for the thirteenth consecutive year. The annual index is published jointly by Baltic Exchange and Xinhua News Agency.

Singapore scored 99.32 out of 100 in this year's rankings. The report said the city-state retained the top position because of its strategic location and its established maritime services, including finance, insurance and legal expertise, as well as its work in alternative fuels and technological innovation. Shanghai scored 84.27 to move into second place, while London ranked third with a score of 81.80. Hong Kong and Dubai completed the top five with scores of 80.87 and 77.13, respectively.

The report said Shanghai has steadily climbed the rankings since the index was launched in 2014, moving from seventh place to second this year. It said the city's rise reflects its growing position as a global maritime centre for containerised trade.

Ningbo-Zhoushan moved up one place to sixth with a score of 71.09, ahead of Rotterdam, which dropped to seventh with 70.22. New York/New Jersey climbed two places to eighth, while Athens/Piraeus and Hamburg remained in the top 10.

The report also highlighted stronger performances by China's major shipping centres. Along with Ningbo-Zhoushan, Guangzhou, Qingdao and Tianjin all improved their positions compared with last year, reflecting stronger maritime connectivity and service capabilities. Although there were no new entrants to the top 20, the report said changes within the rankings showed that competition among the world's leading shipping centres continues to intensify.

The 2026 ISCDI evaluates 43 international shipping centres using indicators covering port performance, professional maritime services and the wider business environment. These include cargo throughput, container berth length, port draught, shipbroking, ship management, ship finance, insurance and legal services, as well as customs efficiency, digital government services and logistics performance.

Mark Jackson, Chief Executive of Baltic Exchange, said the report reflected the growth and importance of global shipping hubs during a period of continued volatility in shipping markets. He recognised the role of international maritime centres in supporting global trade.

Cao Zhanzhong, Head of Xinhua Index Research Institute of China Economic Information Service, said competition among international shipping centres has expanded beyond port size and shipping routes to include green transition, digital innovation, maritime governance and global resource allocation. He added that the industry is entering a new phase of development as global trade and technology continue to evolve.

Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore, said Singapore's continued top ranking reflected the commitment of industry partners and the wider maritime community. He said the country would continue working with the industry to strengthen its competitiveness and create value for the global maritime sector.