Dubai gets into top five international hubs
It is the first Arab city to join the ranks of Singapore, Hong Kong, London and Shanghai
Dubai joins elite top five hubs in latest International Shipping Centre Development Index - used a methodology assessing the sector’s competitiveness, ability to attract maritime businesses, development of efforts in relation to creativity and innovation, and key role in advancing growth of the global shipping sector - thus resulting the first Arab city to join the ranks of Singapore, Hong Kong, London and Shanghai
The UAE city has reached this new milestone in its strategy for leadership in the international maritime sector after being selected as one of the world's top five hubs in the International Shipping Centre Development Index (ISCD).
Backed by legal and legislative excellence, Dubai is known for its advanced infrastructure, world-class maritime and logistics capabilities--a competitive environment conducive to trade, business and investment, and innovative free zones that match the world’s best.
According to a recent report by London-based Baltic Exchange and the Xinhua News Agency, Dubai has secured fifth position and overtaken Hamburg, which fell from fourth to seventh place, while Rotterdam improved from eighth to sixth, having previously occupied the top five positions between 2014 and 2016. The ranking confirms anew the emirate’s reputation as one of the leading maritime shipping and logistics centers in the world.
The emirate is on track to make unprecedented achievements under the relentless support of H. H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who envisioned a safe, integrated, and sustainable maritime sector in support of the UAE’s economic diversification policy in preparation for a post-oil future.
Dubai’s entry into the ISCD’s top five brought a major responsibility to further develop the legislative, regulatory and logistics infrastructure to highest international standards of operational efficiency, maritime safety, and safe navigation in a bid to attract foreign direct investments, in line with objectives of the Dubai Plan 2021 to make the emirate one of the most important business centers in the world.
Founded in 2007, Dubai Maritime City Authority (DMCA) has brought about a radical change in the local maritime sector through an extensive range of industry initiatives and regulations which support its ambitious approach to creating a safe investment environment for industry leaders from all over the world, while reaffirming Dubai’s position as a first-class international maritime hub.
Established to monitor, develop and promote maritime activities, DMCA provides a platform of excellence and quality as it develops world-class regulations and guidelines to raise the bar on the maritime industry and boost its infrastructure, operations and logistics services while offering investment opportunities to boost Dubai’s competitiveness at the regional and international levels.
In Dubai a consortium to improving containership performance and creating a new business model was set up
A consortium to improving containership performance and create a new business model was set up, being led by Dubai-based Zaitoun Green Shipping L.L.C. (ZGS), and listing: MacGregor, Wärtsilä, Gaztransport & Technigaz (GTT), Carina Solutions (C4), Winterthur Gas & Diesel (WinGD), Mitsubishi Heavy Industries Marine Machinery & Equipment (MHI-MME),
The parties have agreed to establish a consortium team where each member company has an important role to play in developing and building a state-of-the-art container ship that features the highest possible levels of efficiency in all areas.
DP World acquired Unifeeder
In early August DP World acquired for 660 million euro Unifeeder from Nordic Capital Fund VIII and minority shareholders. The Aarhus, Denmark-based logistics group, founded in 1977, operates the most densely connected common user feeder and a growing shortsea network in Europe, serving both deep-sea container hubs and intra-Europe container freight market, and in 2017 had revenues of 510 million euro. The acquisition is expected to close in the fourth quarter of 2018.