Hong Kong, Shanghai world's top shipping hubs

Hong Kong is the third-best shipping hub in the world and Shanghai seventh, according to a research report on international shipping centers released in Shanghai on Thursday.

The study, "2014 Xinhua-Baltic Exchange International Shipping Center Development Index Report", has been compiled by Baltic Exchange and a research institute of China Finance Corporation. The index, which studied 46 shipping hubs globally, was assembled based on various aspects, including port conditions, shipping and comprehensive services, and then it was examined and evaluated by a research team of industry experts.

The top 10 shipping centers are Singapore, London, Hong Kong, Rotterdam, Hamburg, Dubai, Shanghai, Tokyo, New York and Busan.

Ports in Asia took six places among the top 10, showing a revival of the sector in the region, experts said.

"An outstanding international shipping center requires more than a just big port. Today, it requires various services that help smooth business and operations, such as insurance, compliance, and management, which may be more important than just infrastructures," said Marcus Lee, Chief Representative in China at The Baltic Exchange.