"London's position as the world's top shipping hub is being challenged by emerging contenders from Asia, as China's economy sucks in goods." from South China Morning Post

"Chinese commodity demand is an increasingly pivotal factor driving freight market activity eastwards, while Asia dominates shipbuilding. Indian appetite for raw materials is also set to grow in the coming years, all enabling Singapore to set out its stall as a centre for the ship industry.

Shanghai is also vying to attract the maritime firms that are looking away from London and to the east."

"Singapore is seen as attractive. UK-based Shipowners' P&L Club recently opened their first overseas Asian office there, global ship broker Clarksons relocated it Hong Kong dry cargo broking teams to Singapore, while Swiss Re moved its Hong Kong marine reinsurance operations to Singapore. Rolls-Royce moved its global headquarters for marine business to the city state last year."