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). Backed by legal and legislative excellence, Dubai is understood for its sophisticated infrastructure, world-class maritime and logistics capabilities - an affordable atmosphere conducive to trade, business and investment, and innovative totally free areas that match the world's best. According to a current record by the London-based Baltic Exchange and the Xinhua News Agency, Dubai has overtaken Hamburg, which dropped from 4th to seventh place, validating once more the emirate's online reputation as one of the leading maritime shipping and logistics facilities on the planet.

H.E. Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation (PCFC) and Chairman of Dubai Maritime City Authority (DMCA) was not shocked that Dubai has actually been included in the leading five, keeping in mind that the emirate was the initial and the only city to get to the world's most competitive and eye-catching maritime collections. Last year, Dubai placed 5th in the listing of the world's leading maritime capitals. The emirate gets on track making unprecedented accomplishments under the relentless support of H. H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who envisioned a safe, incorporated, and lasting maritime field in support of the UAE's economic diversity plan to prepare for a post-oil future.

Bin Sulayem added: "We take pride in the new achievement, which is a testament to the success of our dedicated efforts to enhance the competition of the local maritime market and combine Dubai's management as a major global maritime player. This is in part the outcome of our worthwhile partnership with the general public and private sectors built to boost the confidence of regional and international capitalists in the competitiveness of the local maritime field and promote its components based upon the columns of research and development, innovation, and smart transformation. The components include delivery and ports, engineering and training, maritime support solutions and ports, and the procedure and maintenance of gigantic maritime vessels.

Bin Sulayem ended: "We are honored to see Dubai enter the top 5 in the ISCD, which is a significant duty to more establish the legal, regulatory and logistics infrastructure to the highest possible worldwide standards of functional effectiveness, maritime safety, and risk-free navigating in a proposal to draw in international straight financial investments. This is in line with the objectives of the Dubai Plan 2021 to make the emirate one of the most important business centers on the planet. We are striving to create a vibrant maritime atmosphere to bring in industry leaders and to promote Dubai's status as a global shipping facility supported by a collection of leading top quality efforts, including the Dubai Maritime Virtual Cluster (DMVC), Dubai Maritime Cluster Office (DMCO), and Maritime Dubai. These initiatives would assist lead the way for establishing Dubai and the UAE as an influential force within the global maritime economy."

Dubai was picked for the very first time in the top 5, with Singapore leading a trail in advance of Hong Kong and London, which placed second and 3rd, respectively. Shanghai rated 4th in regards to advanced delivery services and fast-growing logistical solutions, while Rotterdam enhanced from eighth to 6th, having actually previously inhabited the leading five settings in between 2014 and 2016. Hamburg failed to make it to the leading five, going down from fourth to seventh.

The International Shipping Centre Development Index made use of a methodology assessing the industry's competition, ability to attract maritime companies, growth of efforts in relation to creativity and innovation, and key role in beforehand growth of the global shipping sector.