2016 Baltic/Xinhua index for maritime services released

Presenting the report’s findings in China earlier this year, Baltic Exchange chief executive Jeremy Penn said:

“The maritime business is a highly competitive one, and it is facing some tough times at the moment. An oversupply of vessels, particularly in the container and dry bulk markets, has meant depressed freight rates and some difficult decisions for owners. Ever more stringent environmental legislation, rising operating costs and an uncertain economic outlook, all mean that shipping companies and the huge eco-system of companies that support them, face challenges on many fronts. From a maritime cluster’s point of view, this is both a threat and an opportunity, as companies assess their locations and ensure that they remain the best choice. The cost of office space, the availability of a skilled workforce, proximity to customers as well as quality of life are all factors that come into play when a maritime executive considers his or her location.”  

The index was first launched in 2014 and this now its third consecutive year of publication. 

Top 10 port cities of Xinhua-Baltic International Shipping Centre Development Index

Shipping services sub-index

The shipping services sub-index is obtained by general assessment of six indicators:

 – Shipping agency service
 – Ship engineering service
 – Shipping business service
 – Maritime legal service
 – Shipping finance service
 – Ship repair service

Top 10 Shipping Services Sub-index of Xinhua-Baltic International Shipping Centre Development Index

Click here to view the full report.