Friday, 28 April 2017

Singapore is world's top maritime capital for 3rd consecutive time: Menon Report 2017

It is first for shipping; ports and logistics; and attractiveness and competitiveness, says report
By Ann Williams, The Straits Times, 27 Apr 2017

Singapore has once again clinched overall top place in a ranking of the world's maritime capitals.

It placed Singapore No. 1 in three categories: shipping; ports and logistics; and attractiveness and competitiveness.

Norwegian consultancy Menon Economics, which compiles the annual report, said the country was placed second in maritime technology and fourth in the final category, finance and law.

Significantly, Singapore jumped three places from fifth last year to second position in maritime technology, underlining its efforts in technology and research.

The consultancy looked at 24 objective indicators and garnered survey responses from more than 250 industry experts. Singapore was also ranked first overall in the report's 2015 and 2012 surveys.

The report also made predictions about the world's leading maritime capitals five years ahead, with most experts believing that Singapore will remain the most important city, with many noting its strong capabilities to handle digital transformation in the industry.

It noted that Singapore topped the shipping, and ports and logistics categories due to its strategic location, its position as an important centre for commercial management, and for having the world's second largest port.

The country ranked first in overall attractiveness and competitiveness, thanks to the ease of doing business here and the Customs procedures.

According to the report, 70 per cent of the experts polled regarded Singapore as one of the three most attractive cities in the world for relocating their headquarters, and also identified it as one of the maritime capitals most prepared and ready to adopt digitalisation.

Mr Andrew Tan, chief executive of Maritime and Port Authority of Singapore (MPA), said the accolade "will spur us to work harder to make Maritime Singapore the global maritime hub of choice".

MPA's efforts to ensure Singapore remains a leading maritime hub include leading the Sea Transport Industry Transformation Map with industry stakeholders. The aim of the initiative is to drive innovation and productivity, and to equip the local maritime workforce with necessary skills to take on higher value-added jobs of the future.


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