The Piraeus Port, south of Athens in Greece, is ranked in the top 10 of the world’s largest ports and leading shipping centers in the latest maritime hub survey published by Chinese state-run newswire Xinhua and London-based, Singapore-owned Baltic Exchange.
The Xinhua-Baltic International Shipping Centre Development Index (ISCDI), now in its 12th year, ranks the world’s leading shipping centers based on what authors claim is a comprehensive evaluation of port factors, professional business services, and the general environment.
Singapore is the world’s leading shipping center
For the twelfth consecutive year, Singapore has been recognized as the world’s leading shipping center. The city continues to command a strategic position as a global maritime hub in a critical region for international shipping, and its maritime industry remains vibrant and critical to its entire economy.
Singapore is followed by London, Shanghai, Hong Kong, and Dubai, with Rotterdam rounding out the top six. Ningbo Zhoushan and Athens/Piraeus swapped positions this year, with Ningbo Zhoushan moving up to seventh and Athens/Piraeus settling in eighth.
The report also highlights the significant improvements for ports across China. Guangzhou, Qingdao, and Tainjin have all improved in the ISCDI rankings compared to last year, while Ningbo Zhoushan continued its steady climb to seventh, marking the third year in a row that this major container hub has risen in rankings.
The prominence of China’s ports throughout the ISCDI rankings showcases how the country’s continued investment, innovation, and development as a maritime powerhouse is now cementing its ports and maritime centers as the world’s best, the report notes. ISCDI provides a comprehensive ranking of the world’s top 43 port cities and maritime centers, employing a diverse array of metrics.
These metrics encompass every facet of a shipping-centered environment, from business elements involving maritime service providers such as lawyers, financiers, and shipbrokers, to port factors including cargo throughput, draft, and container berth length. Additionally, the index evaluates the overall business climate, factoring in customs tariffs and logistics performance.
Piraeus Port posts record-high revenues for 2024
Greece’s Piraeus Port, run by China COSCO Shipping Corporation, posted record-high revenues and profits in 2024, the company announced in early April. The Piraeus Port Authority S.A. (PPA), which operates the country’s largest port, announced that total revenue reached 230.9 million euros ($249.82 million), marking a five percent increase from 2023, according to a press statement.
Pre-tax profits rose to 112.9 million euros, reflecting a 17.4 percent increase compared to 2023, while after-tax profits climbed to 87.4 million euros, up by 30.8 percent year-on-year.
“Despite a challenging global environment, our ability to achieve record results while investing in the port’s future demonstrates the strength of our strategy and the dedication of our team,” said Su Xudong, PPA’s CEO.
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