Dubai ranks fifth in International Shipping Centre Development Index

Business Bureau, Gulf Today

The latest report by Baltic Exchange for trading and shipping and the Xinhua news agency of the China Economic Information Service based in London has ranked Dubai fifth in the International Shipping Centre Development Index (ISCDI) for the second consecutive year. The latest recognition adds immense value to the emirate’s pioneering track record on the global maritime map.

Sultan Ahmed Bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone and Chairman, Dubai Maritime City Authority (DMCA) expressed his pride in Dubai’s position among the top five in the International Shipping Centre Development Index (ISCDI) for the second consecutive year. He pointed out that this latest recognition is the result of pioneering efforts led by the Dubai Maritime City Authority in cooperation with leading government and private sector entities, in order to enhance the competitiveness and attractiveness of the local maritime sector and to make it one of the areas that contribute to economic diversification. This falls in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who spearheads the economic diversification in order to build a stable and sustainable future.

Dubai’s ranking as the world’s fifth best maritime hub reflects its highly competitive capabilities, which include state-of-the-art infrastructure, world-class maritime and logistics capabilities, a competitive business environment, and investment and free zones that offer integrated services the best in the world.

The emirate has outperformed some of the world’s top maritime centers including Rotterdam and Hamburg that ranked sixth and seventh respectively. Singapore topped the list for 2019, with Hong Kong second and London third and Shanghai fourth. Dubai maintained its fifth position globally, supported by a portfolio of advanced marine services and innovative logistics solutions that reflect the attractiveness, competitiveness and comprehensiveness of the local maritime cluster.

Bin Sulayem said: “Maintaining the fifth position among the leading international maritime centers motivates us to continue our efforts to further enhance Dubai’s competitiveness in the global maritime landscape. We are exploring ways to enhance the confidence of regional and international investors in the local maritime sector, especially shipping, ports, engineering, training and maritime support services, based on strong foundations of R & D, innovation and smart transformation.”

The latest recognition can also be attributed to the unlimited support of the UAE’s wise leadership and the pioneering efforts of DMCA to develop the maritime and logistics system to the highest international standards and enhance the integration of operational efficiency, safety, which provide an ideal environment for owners, ship operators and regional and international investors in line with the objectives of the Dubai Maritime Sector Strategy.”

The latest achievement also highlights DMCA’s success in carrying out a number of initiatives to support Dubai’s position as an influential force within the global maritime economy, particularly Dubai Maritime Sector Strategy, Dubai Logistics Strategy and Marine Industrial Strategy, as well as its successful hosting and active participation in major maritime forums and organisers of the largest and most comprehensive maritime event in the Middle East, the UAE Maritime Week.

International Shipping Centre Development Index (ISCDI) follows a methodology based on the assessment of competitiveness in attracting maritime businesses and efforts to integrate creativity and innovation in maritime centers around the world, as well as the vital role played by each of the candidates in stimulating the growth of the global maritime sector.

Founded in 2007, Dubai Maritime City Authority (DMCA) has brought about a radical change in the local maritime sector through an extensive range of industry initiatives and regulations which support its ambitious approach to creating a safe investment environment for industry leaders from all over the world, while reaffirming Dubai’s position as a first-class international maritime hub. Established to monitor, develop and promote maritime activities, DMCA provides a platform of excellence and quality as it develops world-class regulations and guidelines to raise the bar on the maritime industry and boost its infrastructure, operations and logistics services while offering investment opportunities to boost Dubai’s competitiveness at the regional and international levels.

DMCA aims to build effective and strategic partnerships with relevant government agencies, private businesses and stakeholders in line with its vision to create a safe and vibrant maritime sector and therefore drive economic sustainability and growth in the emirate.