Singapore has once again clinched the top position in Menon’s Leading Maritime Capitals of the World Report.
This is the third edition of the maritime report where Singapore was also ranked first in 2015 and 2012. The latest Menon Report, developed by Norwegian consultancy firm Menon Economics, was launched at the Singapore Maritime Week 2017 this morning.
Singapore has been ranked number one in three categories: Shipping, Ports and Logistics, and Attractiveness and Competitiveness.
The maritime nation also scored impressive results in the remaining two categories: second place in Maritime Technology and fourth place in Finance and Law. Significantly, Singapore jumped three places from fifth to the second position in the Maritime Technology category, affirming Singapore’s focus on technology, research and development are in the right direction.
Andrew Tan, Chief Executive of Maritime and Port Authority of Singapore (MPA), said, “We are deeply honoured yet humbled by this recognition from the international maritime industry. This will spur us to work harder to make Maritime Singapore the global maritime hub of choice. We are truly grateful to all our partners and stakeholders for walking with us every step of the way.”
‘The Leading Maritime Capitals of the World’ report noted that Singapore was able to maintain its reputation as a world-leading maritime hub due to the width of the city-state’s maritime industry.
Singapore’s offering as an international maritime centre continues to grow. While more than 140 shipping companies are represented in Singapore, new companies continue to establish a presence here – with the West of England P&I (protection and indemnity) Club as an example. At the same time, the Singapore Registry of Ships is still amongst the world’s top 5 largest ship registries in the world.
To ensure that Singapore remains a leading maritime hub, MPA is driving the Sea Transport Industry Transformation Map (ITM) with industry stakeholders, to drive innovation and productivity, and equip the local maritime workforce with necessary skills to take on higher value-added jobs of the future.
The Menon Report is a prestigious and widely-accepted study of the world’s leading maritime capitals, by looking at 24 objective indicators and garnering survey responses from more than 250 industry experts across all continents.