Shanghai ranks second among shipping centers

SHANGHAI — Shanghai has ranked second among leading international shipping centers, according to a report released on Friday.

Surpassing London, Shanghai secured the second spot in the 2026 Xinhua-Baltic International Shipping Center Development Index, after Singapore, according to the report. It marks the city's highest-ever ranking since the index was introduced in 2014.

Jin Yu Cheong, head of Baltic Exchange Asia, noted that Shanghai's success extends far beyond mere cargo volumes. "It is supported by a mature and diverse maritime ecosystem, bringing together shipping companies, financial institutions, insurers, legal services, shipbrokers, shipyards and technology providers."

He added that continued investment in digital innovation, green port development and maritime services has further strengthened the city's global competitiveness.

This year's index also underscored China's expanding footprint in the global shipping industry. The country is now home to seven shipping centers in the global top 20.

Jointly launched by China Economic Information Service and Baltic Exchange in 2014, the ISCDI has become one of the most influential benchmarks for evaluating the development of major shipping centers worldwide.

Shanghai is moving from scale expansion to capacity enhancement in building an international shipping center during the 15th Five-Year Plan (2026-30) period. The port of Shanghai, the world's largest container port for 16 consecutive years, handled 55.06 million twenty-foot equivalent units (TEUs) throughout 2025.

The growth in scale is merely part of the capacity enhancement in the development of the Shanghai international shipping center. More important are talent supply, rule-making capacity and competition for international discourse influence, which are key to elevating the center's status and capability, said Chu Beiping, president of Shanghai Maritime University, at a recent forum in Shanghai, adding that future efforts should, in particular, focus on the emerging needs of the shipping industry by developing new interdisciplinary fields, jointly cultivating professionals with cross-disciplinary integration capabilities.

XINHUA — CHINA DAILY