Hong Kong fell to fourth place mainly due to a decrease in cargo throughput and a drop in rankings relative to other centres in areas such as ship brokerage, insurance and legal services. Meanwhile, Dubai retained its fifth place, followed by Rotterdam and Hamburg in the sixth and seventh positions respectively.
Lam Pin Min, Singapore's former Senior Minister of State for Transport and Health, welcomed the good news amid the Covid-19 pandemic gloom. "In this regard, Singapore will continue to rally governments and the global shipping community to work together and emerge stronger," Dr Lam said. According to Incisive Law LLC, Singapore continues to show its strength and operational capabilities in the provision of ship management and shipbroking services, being home to the third largest fleet in the world at the city level, while the second largest fleet is managed from the city.
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