Xinhua-Baltic Exchange: Singapore, Shanghai, London among the top maritime business centers in the Xinhua-Baltic Exchange ranking [REPORT]
Port of Singapure. Photo. X/Urząd Morski Singapuru Strona główna Porty Morskie, Terminale, Logistyka Morska, Transport Morski
Singapore is the leading global shipping center for the thirteenth consecutive year. Shanghai rose from fourth place in 2018 to second place in 2026, overtaking London, which held second place from 2014 (with a two-year break) until 2025, according to Xinhua in its Xinhua-Baltic International Shipping Centre Development Index (ISCDI).
Mark Jackson, CEO of the Baltic Exchange, commented on the report’s release: “This year’s Xinhua-Baltic International Shipping Centre Development Index reflects the growth and importance of our global shipping hubs amidst the ongoing volatility in shipping markets. On behalf of Baltic Exchange, I would like to recognize all the international maritime hubs that drive our global trade and ensure the proper direction of shipping.”
The Port of Singapore has achieved record container throughput for another year. An 8.6% increase in container supply at quayside cranes resulted in 44.66 million TEU of quay-to-ship volume. The activity at the container terminals cemented the port’s position as the world’s second-busiest container port. Shanghai remained unbeaten, reaching the 50 million TEU mark on November 26th of last year, four weeks before reaching the same level in 2024.
“We are honored that Singapore has once again been recognized as a leading global maritime hub,” said Ang Wee Keong, CEO of the Maritime and Port Authority of Singapore, who explained that the port’s strong position “reflects the strong commitment and collaborative efforts of our industry partners and the broader maritime community.”
The port’s ship tonnage reached 3.22 billion GT. This is a new record, resulting from a 3.5% increase in the tonnage of ships received at the terminals compared to 2024. Earning money from bunkering has long been one of Singapore’s assets. Providing fuel to ships resulted in another record year. Marine fuel sales in 2025 reached 56.77 million tons, strengthening the port’s position as the world’s largest ship bunkering destination, according to the ISCDI authors.
The Port of Singapore Authority is making excellent use of its strategic location and economies of scale resulting from growing traffic on one of the main maritime trade routes. The Director General of the Maritime and Port Authority of Singapore also announced: “As the industry develops, we will continue to work closely with our partners to strengthen Maritime Singapore’s competitiveness and create value for the global maritime community.”
Top 10 Seaports in 2025 Source: China Information Co., Ltd. China SCI.
Shanghai and London – Changing Places
Shanghai ended 2025 with a throughput of approximately 55.1 million TEU, achieving a 6.9% increase compared to 2024. The port has topped the global container throughput rankings for the sixteenth consecutive year. This is thanks to China’s economic expansion and the increasing reliance of global markets on Chinese supplies. The port’s driving force is the Yangshan Terminal Complex, which offers deepwater access for the largest container ships. It is home to the world’s largest automated container terminal, which accounts for 52.1% of the port’s total container throughput. Thanks to investments, automation, and logistics organization, its throughput increased by 10.4% year-on-year.
London owes its position in the ISCDI ranking not to transshipment, but to its long-standing position as a world-leading center for maritime law and finance. The capital of Albion and its surroundings “continue to be an attractive location for debt and equity financing in shipping, which closely aligns with global regulatory requirements,” the ISCDI authors explain.
According to the latest data, “the British maritime sector contributes £116 billion to the national economy and supports 1.1 million jobs,” surpassing both rail (which is subsidized) and aviation. Therefore, the UK government continues to prioritize support for the British maritime sector.
On the opening day of London International Shipping Week 2025, the UK government and the private sector have jointly committed £1.1 billion to the maritime sector: £700 million in private investment directed at major ports and industry players, and almost £450 million in public funding for the UK SHORE programme, according to the authors of the Xinhua-Baltic International Shipping Centre Development Index (ISCDI), developed in cooperation between the Baltic Exchange and Xinhua News Agency.
ISCDI Top 10. Source: Xinhua-Baltic International Shipping Centre Development Index (ISCDI)It’s no surprise, then, that Singapore remains the world’s leading shipping center for the thirteenth consecutive year, achieving an ISCDI score of 99.32 out of 100. The report’s authors emphasize that this position is determined not only by transshipment volumes but also by the entire system of maritime-related activities. They state that “Singapore’s leading position reflects its strategic location and established position in the maritime services industry, encompassing finance, insurance, and legal expertise, as well as its importance in the development of alternative fuels and technological innovation.”
Years of consistent work and strategic continuity in building its market position have seen Shanghai (with an index of 84.27) overtake London (81.80). Shanghai has consistently climbed from seventh place since the ISCDI was first developed in 2014. This means consistent strategic action in all areas ensuring its position as the “global center of maritime container trade.” This has led Shanghai to become the second most important maritime trade center in the world in the “2026 Xinhua-Baltic International Shipping Center Development Index (ISCDI)” ranking, compiled by analysts from the Baltic Exchange and Xinhua News Agency.
London ranked third in this year’s ISCDI, followed by Hong Kong (with a score of 80.87) and Dubai (77.13). These three shipping centers have remained in the top five, alongside Singapore and Shanghai, for nine years in a row. According to experts from the Baltic Exchange and Xinhua News Agency, “this underscores the stability of the world’s leading maritime centers.”
It’s important to add that this not only reflects stability, but also excellent adaptation to the needs of the global market. This involves continuous innovation and automation, building a competitive advantage based on excellent customer service throughout the maritime logistics system.
Cao Zhanzhong, director of the Xinhua Index Research Institute at the China Economic Information Service, said: “Our long-term research shows that competition among international shipping hubs has expanded beyond ports and network connectivity to encompass broader opportunities in green transformation, digital innovation, maritime governance, and global resource allocation.”
Chinese Ports Grow Stronger
Ningbo-Zhoushan has risen one place to sixth with a score of 71.09. Rotterdam has fallen one place over the year to 70.22. Meanwhile, the New York/New Jersey port complex has climbed two places to eighth with a score of 69.50. Among European ports, Athens/Piraeus (68.76) and Hamburg (67.36) also made it into the top ten.
Shanghai is not the only Chinese port performing exceptionally well for the national economy. It’s not just transshipment and profits generated by ports that are important, but also the development of an overall environment favorable to maritime transport, maritime and land logistics, and the establishment of entire chains ensuring the efficient flow of goods. This strategy is being consistently implemented in Chinese ports.
This has led to a number of major Chinese maritime transport hubs improving their positions in the ISCDI ranking. Experts from the Baltic Exchange and Xinhua News Agency note: “In addition to Ningbo-Zhoushan, Guangzhou, Qingdao, and Tianjin also saw their positions improve compared to last year, reflecting China’s growing potential in maritime connectivity and services.”
The experts highlight the competitive struggle between leading maritime trade hubs, explaining: “Although no new maritime hubs joined the top twenty this year, the changes in the rankings show that while established hubs remain stable, competition between them is becoming increasingly dynamic.”
Port of Singapore Performance 2025 Source: MPA, via: BunkerMarket.com
Key Findings
The key findings from the ISCDI 2026 report are summarized below:
• Shanghai takes second place: Shanghai has consistently climbed from seventh place in 2014 to become the world’s second-largest international shipping center this year.
• Chinese shipping centers continue to strengthen: Ningbo-Zhoushan has moved up to sixth place, overtaking Rotterdam, while Guangzhou, Qingdao, and Tianjin have all improved their positions compared to last year.
• Competition among established centers continues to intensify: The constant changes in the top 20, as well as the absence of new entrants in this year’s ranking, underscore the stability of the world’s leading shipping centers, while competition among them is intensifying.
“As the global trading system undergoes profound transformation and a new wave of technological revolution gathers pace, the international shipping sector is entering a new phase of development, bringing new opportunities while simultaneously facing increasingly complex challenges,” Cao Zhanzhong, Director of the Xinhua Index Research Institute at the China Economic Information Service, explains the ranking changes and the growing role of Chinese ports.
The ISCDI report goes beyond analyzing container transshipment or port transshipment activity, as port authorities often boast. The analysis goes deeper, “assessing 43 international shipping hubs using a comprehensive framework encompassing port performance, professional maritime services, and the broader business environment.”
The ISCDI comprises analysis of transshipment volumes, as well as the number of cranes operating at ports, the length of container berths, and available port depths. Important qualitative factors are also assessed: brokerage services, ship management, ship financing, insurance, and legal services. The index also considers customs clearance efficiency, digital government services, and logistics performance. Crucially, however, maritime business centers are strongly linked to industrial bases and supported by government. Such clusters build a competitive advantage in coastal regions in China, the United Kingdom, Germany, and the Netherlands.
Synergy of ports, cities, and customs zones in China. Source: Synergy of ports and cities in the Chengdu-Chongqing Economic Circle and the influencing factors, Authors: Wan Yu, Lin Gang, Liu Mingwu, DOI: 10.1080/21642583.2021.1971577