Shanghai shows great potential in the 2024 Leading Maritime Cities of the World Report. [Photo/pdnews]

According to the 2024 Leading Maritime Cities of the World Report, which was recently released by the globally renowned classification society DNV and Menon Economic, Shanghai has secured the fourth spot globally, following Singapore, Rotterdam, and London.

Furthermore, the report predicts that Shanghai is poised to ascend to the top two positions within the next five years.

Leading Maritime Cities of the World refer to international cities with economic aggregation, efficient services for regional development, and dominant international shipping influence. The 2024 report evaluates various international maritime cities using nearly 70 indicators across five key pillars: maritime center, maritime finance and law, maritime technology, ports and logistics, attractiveness, and competitiveness.

The report noted that Shanghai has demonstrated remarkable performance in three out of the five key areas: maritime center, maritime technology, and ports and logistics, all ranking within the top five globally. Shanghai has secured the fourth position in the maritime center and port and logistics pillars, leveraging its high concentration of shipping elements and continuously improving its hub capabilities. Additionally, Shanghai has actively promoted the digitization, intelligence, and green transformation of the shipping industry, earning it the fourth spot in the maritime technology domain.

While Shanghai did not make it to the top five in the maritime finance and law, attractiveness, and competitiveness categories, industry leaders and executives foresee that Shanghai is poised to become one of the most significant maritime cities in the near future.

DNV GL Maritime CEO Knut Ørbeck-Nilssen commended Shanghai's outstanding achievements in the construction of an international maritime center in recent years. He noted that Shanghai has already emerged as one of the world's renowned maritime centers and possesses the capability to further advance to a leading global position.

The 2024 report predicts that with the continuous advancement of Shanghai's international maritime center construction, an increasing number of maritime stakeholders will establish their businesses and organizations in Shanghai. Consequently, Shanghai's comprehensive strength is expected to continue to rise, potentially narrowing the gap with Singapore by 2029 and leaping into the top two positions globally.