Dubai ranks among top 5 in global shipping index for fifth year

Image: WAM

Dubai has once again solidified its leadership in the global maritime sector, ranking among the top five cities in the 2024 International Shipping Centre Development Index (ISCD), according to a report by the Baltic Exchange and Xinhua News Agency.

The index places Dubai in the fifth position, marking the fifth consecutive year that the emirate has held this rank, making it the only Arab city among the top 20. Singapore, London, Shanghai, and Hong Kong are the top four.

A significant factor driving Dubai’s maritime growth is the Dubai Maritime Authority’s issuance of Instruction No 1 for 2023, which mandates transparency in local container fees, with all service providers required to disclose their fees via Dubai Trade’s unified portal.

Dubai is viewed as a global shipping hub

Sultan bin Sulayem, chairman of Ports, Customs, and Free Zone Corporation, viewed the latest ISCD ranking as a testament to Dubai’s global maritime stature.

“This achievement confirms Dubai’s strong maritime position on the world map. Despite global economic challenges, we remain committed to enhancing the sector’s contribution to the Dubai Economic Agenda D33 over the next decade,” he said.

Sulayem highlighted Dubai’s distinction as the sole Arab city in the top 20 maritime centres, emphasising the emirate’s consistent growth and emergence as a key global maritime capital.

Echoing this sentiment, Sheikh Dr Saeed bin Ahmed bin Khalifa Al Maktoum, executive director of the Dubai Maritime Authority, reinforced the importance of the maritime sector to Dubai’s economy. “The Dubai Maritime Authority is working to advance innovation, sustainability, and investment in the maritime sector while expanding commercial operations and infrastructure,” he said.

“Dubai’s ranking as the fifth strongest shipping centre for the fifth consecutive year is an international endorsement of our pioneering initiatives. By adhering to global best practices, we are strengthening Dubai’s maritime ecosystem,” Sheikh Saeed added.

The report also highlighted Dubai’s leadership in environmental sustainability, with the emirate taking strides in decarbonisation and developing environmentally friendly marine ecosystems.

The International Shipping Centre Development Index, published annually, evaluates maritime centres based on their competitiveness, development, and overall contribution to the global shipping industry.