Ningbo-Zhoushan ranks among world's top 10 shipping hubs

Ningbo and Zhoushan, both of which are home to the Ningbo-Zhoushan Port, the world's largest port by cargo throughput volume, were ranked 10th among global shipping hubs in terms of comprehensive strength, according to the Xinhua-Baltic ISCD Index 2022.

This is the second time the two cities in East China's Zhejiang province have been ranked 10th following the first time in the previous year.

The International Shipping Centre Development (ISCD) Index was released as a collaboration between the Baltic Exchange, an independent source of global maritime market information, and the Chinese state news agency Xinhua on July 11.

The index, which is now in its ninth edition, provides an annual independent ranking of the performance of the world's largest cities that offer port and shipping business services. Sampled cities are evaluated based on port conditions, shipping services, and comprehensive environment.

This year, Singapore topped the ranking, followed by London, Shanghai, Hong Kong, Dubai, Rotterdam, Hamburg, New York-New Jersey, Athens-Piraeus and Ningbo-Zhoushan.

Ningbo and Zhoushan are playing a pivotal role in the global shipping network, according to the newly released Xinhua-Baltic ISCD Index report.

In 2021, Ningbo Zhoushan Port handled 1.22 billion metric tons of cargo, up 4.4 percent year-on-year and topping the global rankings for the 13th straight year. The port's container throughput reached 31.08 million TEUs, up 8.2 percent year-on-year, and was ranked third globally.

Despite the stable growth in throughput volume, there is still great potential for the two cites to develop high-end shipping services such as insurance, brokerage, law, and management, said Xu Kai, chief information officer of the Shanghai International Shipping Research Center.

According to a development plan released by Zhejiang in 2021, the province aims to build Ningbo Zhoushan Port into a global first-class port with a comprehensive strength that is ranked among the top eight in the world by 2025.