Dubai has scored a new milestone in its bid to cement its leadership in the international maritime sector after it was selected as one of the world's top five in the International Shipping Centre Development Index (ISCD).

The International Shipping Centre Development Index used a methodology assessing the sector’s competitiveness, ability to attract maritime businesses, development of efforts in relation to creativity and innovation, and key role in in advancing growth of the global shipping sector.

Backed by legal and legislative excellence, Dubai is known for its advanced infrastructure, world-class maritime and logistics capabilities--a competitive environment conducive to trade, business and investment, and innovative free zones that match the world’s best, said a statement.

According to a recent report by the London-based Baltic Exchange and the Xinhua News Agency, Dubai has overtaken Hamburg (Germany), which fell from fourth to seventh place, confirming anew the emirate’s reputation as one of the leading maritime shipping and logistics centres in the world.

Sultan Ahmed bin Sulayem, chairman of the Ports, Customs and Free Zone Corporation (PCFC) and chairman of Dubai Maritime City Authority (DMCA), was not surprised that Dubai has been included in the top five, noting that the emirate was the first and the only city to reach the world's most competitive and attractive maritime clusters.

Last year, Dubai ranked fifth in the list of the world's top maritime capitals. The emirate is on track to make unprecedented achievements under the relentless support of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who envisioned a safe, integrated, and sustainable maritime sector in support of the UAE’s economic diversification policy in preparation for a post-oil future.

Bin Sulayem added: “We are proud of the new achievement, which is a testament to the success of our dedicated efforts to enhance the competitiveness of the local maritime sector and consolidate Dubai's leadership as a major global maritime player.”

“This is in part the result of our fruitful partnership with the public and private sectors forged to enhance the confidence of regional and international investors in the competitiveness of the local maritime sector and promote its components based on the pillars of research and development, innovation, and smart transformation,” he said.

“The components include shipping and ports, engineering and training, maritime support services and ports, and the operation and maintenance of giant maritime vessels,” he added.

Bin Sulayem continued: “We are proud to see Dubai enter the top five in the ISCD, which is a major responsibility to further develop the legislative, regulatory and logistics infrastructure to the highest international standards of operational efficiency, maritime safety, and safe navigation in a bid to attract foreign direct investments.”

“This is in line with the objectives of the Dubai Plan 2021 to make the emirate one of the most important business centres in the world,” he said.

“We are working hard to create a vibrant maritime environment to attract industry leaders and to promote Dubai's status as a global shipping centre supported by a series of leading quality initiatives, including the Dubai Maritime Virtual Cluster (DMVC), Dubai Maritime Cluster Office (DMCO), and Maritime Dubai. These initiatives would help pave the way for establishing Dubai and the UAE as an influential force within the global maritime economy,” he concluded.

Dubai was selected for the first time in the top five, with Singapore leading the way ahead of Hong Kong (China) and London (UK), which placed second and third, respectively. Shanghai (China) ranked fourth in terms of advanced shipping services and fast-growing logistical solutions, while Rotterdam (Netherlands) improved from eighth to sixth, having previously occupied the top five positions between 2014 and 2016. Hamburg failed to make it to the top five, dropping from fourth to seventh, it stated. – TradeArabia News Service