SHANGHAI ranked seventh among international shipping centers, according to the Xinhua-Baltic Exchange International Shipping Centers Development Index that launched today.

Singapore took the top spot with high performances in both maritime services and physical throughput, followed by London and Hong Kong. Rotterdam, Hamburg, Dubai, Tokyo, New York and Busan rounded out the top 10.

The first index of its kind to measure shipping centers worldwide was jointly launched by CFC Holding Company Ltd, a subsidiary of Xinhua News Agency, and the Baltic Exchange.

A total of 46 international shipping centers had been evaluated in terms of port facilities, maritime services and overall environment.

“A fully fledged and modern shipping center needs to demonstrate a full range of services for cargo exports and imports, container traffic and maritime services including shipping brokerage, finance and insurance,” said Jeremy Penn, chief executive officer of the Baltic Exchange.

Shanghai remained the world’s busiest container port in 2013 with container throughput rising 3.3 percent to a record 33.6 million TEUs (twenty-foot equivalent units).

Marcus Lee, chief representative in China of the Baltic Exchange, said Shanghai has strengths in port facilities and infrastructure but lags behind in the provision of maritime services.

“However, with the pace of China’s growth and its opening up to international markets, new policies are constantly issued to encourage and attract international businesses as Shanghai is striving to grow into a recognized international shipping center by 2020,” said Lee.