A new publication reveals that Singapore and Oslo are the top cities for maritime business in the world, followed by London, Hamburg and Hong Kong - but watch out for Shanghai and Rio in the next ten years.
Commissioned by Nor-Shipping, the analysts at Menon Business Economics in Oslo have now benchmarked 12 leading maritime cities in four areas: Shipping, maritime finance, maritime law and insurance, and maritime technology and competence. The rankings were dived into two categories: quantitative criteria, and global expert opinion.
The quantitative review puts Oslo at number one, followed by Singapore, London, Hamburg and Hong Kong. Oslo leads on shipowners and shipping operations, and maritime finance, and stands at number five on law and insurance, and fourth in technology and competence. Singapore scores number one on technology and competence, second in shipowners, third on law and insurance and fourth in finance.
However, the international expert panel placed Singapore on top, with London as number two and Oslo third. Singapore is perceived as the most complete hub, and is seen as being among the five leading cities by more than 70 per cent of the experts on all four areas. Oslo comes closest to Singapore in terms of completeness.
Norway still operates the fifth biggest fleet in the world, but the industry has had growing concerns that Asia had passed them by in other fields. ”When we asked for this analysis, we hoped Oslo would be among the top five, but we didn’t really anticipate coming out on top. Nonetheless, the analysis shows that we need to further develop research and innovation to stay ahead in technology and competence,” says the chairman of Oslo Maritime Network, shipowner Morits Skaugen.
The verdict for the next ten years is that Singapore will remain no 1 in the world because maritime industry is embedded into the whole economic strategy of the city state. Oslo is thought to be riding on the offshore industry development, with even more advanced vessels and knowledge based services.
”Norway has generations of experience and culture in shipping. Oslo has managed to build on that with services in finance, law and insurance, and compete globally,” says governing mayor of Oslo, Mr Stian Berger Røsland.