Shanghai remained a containers port giant last year after ranking third among the world’s shipping hubs in the latest Xinhua-Baltic International Shipping Centre Development Index Report.
The index, released on Wednesday at the North Bund Shipping Service High Quality Development Conference, shows the city maintaining its ranking for five consecutive years, following Singapore and London.
According to the report, Shanghai ports showed remarkable resilience and adaptability amid global economic uncertainties and fluctuating trade volumes.
In 2023, the city handled a total of 49.16 million TEU (20-foot equivalent units), an increase of 1.7 million TEU or 3.6 percent compared with 2022 levels, according to the report.
It has maintained its position as the largest and busiest container port in the world for the 14th year in a row, as well as being named the world’s most connected port by the United Nations Conference on Trade and Development’s (UNCTAD) Port Liner Shipping Connectivity Index (PLSCI).
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Shanghai container throughput reached 25 million teu in the first half of the year.
The report says the success of Shanghai ports is attributed to China’s robust import-export activities and integration with advanced digital technology, as well as its proactive approach to environmental sustainability.
Ongoing expansion and upgrading of its port facilities also played a crucial role in this growth.
“The Shanghai International Shipping Center is moving from ‘basically completed’ to ‘fully completed,'” said Zhang Xiaohong, Shanghai’s vice mayor.
“We will promote the high-quality development of shipping services and build an international shipping center that is convenient, efficient, fully functional, open and integrated, green and intelligent.”
There are six other Chinese cities in the top 20 – Hong Kong, Ningbo-Zhoushan, Guangzhou, Qingdao, Shenzhen, and Tianjin.
Tianjin has returned to the top 20 after several years of ups and downs, ranking 19th in the index.
The rankings are based on categories including port input (20 percent of weighting), business service input (50 percent) and general environment input (30 percent).
The Xinhua-Baltic index provides a comprehensive ranking of the world’s top 43 port cities and maritime centers, employing a diverse array of metrics.
These metrics encompass every facet of a shipping-centered environment, from business elements involving maritime service providers such as lawyers, financiers, and shipbrokers, to port factors including cargo throughput, draught and container berth length.
The index also evaluates the overall business climate, factoring in customs tariffs and logistics performance.
It was first launched in 2014 by the China Economic Information Service, a subsidiary of Xinhua, in collaboration with the Baltic Exchange.
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Yangshan Port in Shanghai.