Asia/Pacific News
Singapore Ranked as World's Leading Maritime Capital
Norwegian consulting firm Menon has named Singapore as the world's leading maritime city, media reports.
According to a Menon Business Economics Group survey, Singapore ranks first based on its business friendly policies, and strategic location on the trade route between Europe and Asia.
"Singapore has gained a position in the global economy few would have predicted 40 years ago. As recently as 10 years ago, Singapore lacked maritime research and education, and the lines between foreign and domestic companies were weak," the report noted.
"Today, the city plays a key role in all aspects of the maritime industry."
Menon, which named Hamburg the world's second leading maritime city followed by Oslo, predicts that Singapore will retain its first-ranking position five years from now.
The report polled 200 maritime professionals from 33 countries in order to reach its findings, and maritime cities were benchmarked according to indicators of finance, technology, ports and logistics, and shipping, as well as competitiveness and attractiveness.
Earlier this week Ship & Bunker reported that the same survey said that Dubai is on track to become one of the world's leading maritime centres in the next five years, ranking ahead of cities including London, New York, Tokyo, Copenhagen, and Rio de Janeiro.
