Singapore, regularly topping polls as the world’s greatest international shipping centre, is looking to boost the finance side of its offerings.

The Maritime Port Authority of Singapore (MPA) is working in tripartite working group to promote shipping-related listings on the Singapore Exchange (SGX). The Singapore Shipping Association is the other partner in the group.

The total market capitalisation of the 62 maritime listings on the Singapore bourse stood at S$45bn ($32.69bn) as of the end of last month, according to SGX.

The group will be benchmarking SGX against the current top bourses in maritime listings: the Oslo Bors and the New York Stock Exchange (NYSE).

At last month’s Singapore Shipping Association dinner, Esben Poulssen, the new SSA president, told attendees the republic needed to up its game on ship finance. “We cannot sit on our laurels,” he said, adding: “We feel we are a little weak in the capital markets and listings.”

Singapore’s push for more shipping listings comes at a time where other exchanges are seeing their shipping exposure diminish. Local shipping communities in both London and Hong Kong have called for their local exchanges to up their game in chasing shipping listings this year.