Singapore continues to be the world's largest transshipment centre

As the busiest transshipment center in the world, Singapore, a small island nation, has established a thriving maritime ecosystem.

Singapore looks at expanding its influence from physical to virtual-a coastal country that is now seeking to play a key role in digitizing global trade.

Singapore has been repeatedly rated as one of the world's leading maritime capitals.

In a joint report released in April this year, Singapore was named the world's leading maritime capital by consulting firm Menon Economics and the classification society DNV GL. This was the fourth consecutive year that Singapore topped the list.

In the annual shipping center ranking jointly released by Xinhua News Agency and the Baltic Exchange, Singapore ranked sixth for the sixth consecutive time.

This small island nation seems to have hit a much bigger punch than its Southeast Asian neighbors. Among the five indicators listed by Menon and DNV GL for the maritime capital's shipping center, port, logistics, attractiveness and competitiveness, it ranked first among the three.

The "Xinhua-Baltic Shipping Report" states that Singapore, like Hong Kong and London, has effectively used its geographical location in developed shipping markets and provided comprehensive logistics and transportation support.