By Elias Al Helou

Dubai tops Arab world, ranks fifth globally in international shipping centre index

Dubai holds the position of the fifth strongest international shipping hub for the fifth consecutive year

Dubai reinforces its position as a leading maritime powerhouse in the Middle East. (Photo Credit: Dubai Media Office)

Published: Tue 17 Sep 2024, 5:10 PM

Last updated: Tue 17 Sep 2024, 5:12 PM

Dubai continues to assert its dominance in the global maritime industry, ranking among the top five worldwide in the 2024 International Shipping Centre Development Index (ISCD).

According to the latest report from the Baltic Exchange and Xinhua News Agency, Dubai holds the position of the fifth strongest international shipping hub for the fifth consecutive year, making it the only Arab city featured in the top 20. Singapore, London, Shanghai, and Hong Kong occupy the top four spots in the index.

Advancements in maritime policy

The Baltic Exchange’s report, titled “Dubai Reinforces Its Position as a Leading Maritime Powerhouse in the Middle East,” emphasizes Dubai’s remarkable advancements in the maritime sector throughout 2023 and its commitment to solidifying its role as a significant logistics center. It highlights the issuance of the Dubai Maritime Authority’s Instruction No. 1 for 2023, which mandates all service providers to transparently disclose their local container fees via the unified portal of Dubai Trade.

The report states: “Following its hosting of the United Nations Climate Change Conference (COP28), Dubai elevated its maritime credentials in 2023, providing a key platform for major international maritime companies and organizations to unveil innovative partnerships and decarbonization initiatives during this global summit.”

Commitment to strategic objectives

Sultan bin Sulayem, chairman of Ports, Customs, and Free Zone Corporation, conveyed optimism regarding the results of the 2024 report and expressed pride in the achievement that underscores Dubai’s robust maritime standing on the global stage. He highlighted that the Ports, Customs, and Free Zone Corporation is dedicated to implementing proactive measures aimed at enhancing the maritime sector’s role in achieving the strategic objectives of the Dubai Economic Agenda D33 over the next decade, even amidst global economic challenges and market fluctuations.

Additionally, bin Sulayem pointed out that Dubai being the only Arab city in the top 20 international maritime centers serves as a clear testament to the emirate’s ongoing growth and its rising significance as a key global maritime capital in the future.

Driving economic impact

Sheikh Dr. Saeed bin Ahmed bin Khalifa Al Maktoum is the Executive Director of the Dubai Maritime Authority. He emphasized the crucial role of the maritime sector in Dubai’s business landscape. He also noted its significance as a key driver of the emirate’s economy. Moreover, he explained that the Dubai Maritime Authority is dedicated to bolstering Dubai’s reputation as a global maritime hub. The authority promotes innovation, sustainability, and investment, he said. Furthermore, he mentioned a focus on adapting to future trends in the Middle East’s maritime industry through the expansion of commercial operations and infrastructure development.

He also pointed out that Dubai has consistently ranked as the fifth strongest shipping center for five consecutive years. This serves as another form of international validation for Dubai’s leading initiatives. It highlights the city’s outstanding maritime business environment. By implementing global best practices, he asserted, Dubai is continually enhancing and strengthening the maritime and shipping sector.

Leadership in sustainability

Furthermore, the Baltic Exchange’s report observed Dubai’s leadership in environmental sustainability. The report also noted that Dubai is committed to achieving comprehensive maritime dominance for decades to come. The emirate has emerged as a leader in the global logistics arena in 2023/2024. This success is driven by its continued efforts in decarbonization. Additionally, it focuses on developing eco-friendly marine ecosystems. The emirate also seamlessly integrates maritime, land, and air shipping capabilities.

The International Shipping Centre Development Index is published annually. It uses a methodology to evaluate the competitive ability to attract maritime business. The index also assesses the development level of maritime centers globally. Additionally, it measures the overall impact on the growth of the global shipping sector.

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