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Singapore retains top spot in Leading Maritime Cities Report

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There have been many dramatic developments since the last edition of the LMC report was published in 2019. For one, we are still living with the pandemic. Two years of fluctuating restrictions have caused severe trade and travel upsets. Extreme weather events have made us all more acutely aware of the climate crisis, another major driver of change.


Shipowners, charterers, cargo owners and lenders are gearing up for a decarbonized future, with rapid adoption of zero-carbon fuels expected over the next decade. Ongoing digitalization, including ports and the supply chain, will drive efficiency in support of this transition.


“Maritime cities and clusters are generating unique strategies to cope with these global transformations. They will play a leading role in the green shift, with new business models that drive the transition,” says DNV Maritime CEO Knut Ørbeck-Nilssen.


The LMC report is compiled in cooperation between classification society DNV and Menon Economics. As before, it benchmarks each maritime city based on five key pillars – Shipping, Maritime Finance & Law, Maritime Technology, Ports & Logistics and Attractiveness & Competitiveness.


Singapore’s strong performance across the board sees it retain its number 1 spot overall. “Singapore holds the top slot for Attractiveness & Competitiveness while also scooping the Maritime Technology title, thanks to the city-state’s unrelenting focus on digital transformation. Singapore gives way to Athens and Shanghai in Shipping and Ports & Logistics respectively, and losing some ground in Maritime Finance & Law,” notes Dr Shahrin Osman, Regional Head of Maritime Advisory at DNV and the report’s co-author.


The experts see Singapore, Oslo, Shanghai and Copenhagen as best prepared for digital transformation, while Oslo tops the list for sustainable technologies and solutions for the oceans, followed by Singapore and Copenhagen.


Download report: The Leading Maritime Cities of the World 2022


Source: DNV