MENA Newswire News Desk: Dubai has cemented its position as a global leader in the maritime sector, ranking fifth in the 2024 International Shipping Centre Development Index (ISCD). This marks the fifth consecutive year Dubai has held this spot, making it the only Arab city in the top 20. Singapore, London, Shanghai, and Hong Kong occupy the top four positions.
The 2024 ISCD report, published by the Baltic Exchange and Xinhua News Agency, lauds Dubai’s rise in the maritime industry. It highlights Dubai’s robust initiatives to maintain its standing as a premier shipping hub, including the introduction of local container fee transparency regulations by the Dubai Maritime Authority. These regulations, outlined in Instruction No. 1 for 2023, require all service providers to disclose their fees through the unified Dubai Trade portal, further enhancing operational transparency.
Dubai’s hosting of the United Nations Climate Change Conference (COP28) in 2023 provided a platform for international maritime companies to announce major decarbonization partnerships. The report points out that this event reinforced Dubai’s growing prominence as a key global player in maritime sustainability.
Sultan bin Sulayem, Chairman of Ports, Customs, and Free Zone Corporation, praised Dubai’s achievements and expressed confidence in the continued growth of the maritime sector. “We are committed to advancing the maritime industry as a vital contributor to the Dubai Economic Agenda D33 over the next decade,” he said. He further noted that Dubai’s position as the only Arab city among the top 20 is a testament to the emirate’s ongoing success in the global maritime arena.
Sheikh Dr. Saeed bin Ahmed bin Khalifa Al Maktoum, Executive Director of the Dubai Maritime Authority, highlighted the sector’s importance to the emirate’s economy. “Our focus is on advancing innovation, sustainability, and investment to keep Dubai at the forefront of global maritime hubs,” he stated. Sheikh Saeed added that Dubai is embracing future maritime trends by expanding commercial operations and infrastructure.
The Baltic Exchange report also underscores Dubai’s leadership in environmental sustainability, noting the emirate’s efforts in decarbonisation and the development of environmentally friendly marine ecosystems. It commends Dubai’s integration of maritime, land, and air shipping capabilities, which has placed the city at the top of the global logistics scene from 2023/2024.
The ISCD report evaluates the competitive ability of cities to attract maritime business, the development of maritime centers, and their influence on the global shipping industry. Dubai’s continued presence in the top five reflects its commitment to shaping the future of global shipping.