Dubai: Dubai has been ranked among the world’s top five cities in the International Shipping Centre Development Index, making it the top-ranked Arab city.

Dubai was selected for the first time in the top five, with Singapore leading the way, followed by Hong Kong and London, which were in second and third place respectively. Shanghai ranked fourth, while Rotterdam moved from eighth to sixth place.

The index, which assesses ability to attract maritime business, the sector’s competitiveness, shipping services and logistical solutions, saw Hamburg drop from fourth place to seventh.

“We are proud to see Dubai enter the top five in the ISCD, which is a major responsibility to further develop the legislative, regulatory, and logistics infrastructure to the highest international standards of operational efficiency, maritime safety, and safe navigation in a bid to attract foreign direct investments,” said Sultan Bin Sulayem, chairman of the Ports, Customs, and Free Zone Corporation, and chairman of Dubai Maritime City Authority.

He added in a statement that the ranking was a result of partnerships between the public and private sector to boost confidence of regional and international investors. Bin Sulayem said that the industry is still working to create an attractive maritime environment to attract industry leaders and promote Dubai’s status as a shipping centre.

The International Shipping Centre Development Index used a methodology assessing the sector’s development of efforts in terms of innovation, and role in advancing growth of the global shipping sector.