China's increasing importance to world trade is reflected in Shanghai's new position at number four.
Menon Economics' report The Leading Maritime Capitals of the World 2017 benchmarked 15 leading maritime cities in terms of shipping, finance and law, technology and ports and logistics services. The ranking included an overall assessment of the cities' attractiveness and competitiveness.
And China's growing power is also reflected in the fact the report anticipates that in five years' time it will have climbed to second position, though still behind Singapore in first place.
It also predicted that in five years Hamburg, Oslo, Rotterdam and London would all be vying to be contenders to be leading European maritime city.
Singapore has maintained its position, despite weak economic conditions in shipping and offshore oil and gas markets, by increasing its focus on R&D developments within the industry over the last few years.
