Singapore clinches top spot as global maritime capital for third consecutive time

SINGAPORE — The Republic has once again clinched the top position in Menon’s Leading Maritime Capitals of the World Report (“Menon 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 on Wednesday (April 26).

The Menon Report compares 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.

Singapore was ranked No 1 in the following 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 second position in the Maritime Technology category, affirming Singapore’s focus in technology, research and development is in the right direction.

Mr 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.”

With more than 140 shipping companies represented in Singapore, the Port of Singapore remains one of the world’s busiest ports – it sustained its performance in 2016, when vessel arrival tonnage increased by 6.3 per cent to 2.66 billion gross tonnes.