Dubai is ranked the best shipping centre in the Arab world and fifth globally – The National

Dubai is ranked the best shipping centre in the Arab world and fifth globally – The National

Dubai has been ranked the top shipping centre in the Arab world and the fifth best globally this year, making it the only Middle East city on the top 10 list.

Singapore retained its rank as the top international maritime hub for the ninth consecutive year in 2022, according to the Xinhua-Baltic International Shipping Centre Development (ISCD) Index. The top five international shipping centres in 2022 are Singapore, London, Shanghai, Hong Kong and Dubai.

The index provides an independent ranking of the performance of the world’s largest cities that offer port and shipping business services.

“Top 10 locations remain largely unchanged since 2021 and features four Asian, four European, one Middle East and one United States location,” the report said.

“Covid-19 related restrictions severely impacted economies around the world and the sharp rebound in trade snarled up supply chains globally.

"The main shipping segments experienced mixed fortunes, with the container industry enjoying unprecedented profit levels, but tankers ran at or below operating costs.”

The value of global trade rose by almost 15 per cent to a record $7.7 trillion in the first quarter of 2022, an increase of about $1tn compared with the same period last year, according to the UN Conference on Trade