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Shanghai Shipping Exchange & CargoSmart join forces to establish a new shipping index


Shanghai Shipping Exchange, a leading shipping index organisation, and CargoSmart Ltd, a leading global shipment management software solutions provider, have signed a Memorandum of Cooperation to develop a new shipping index for ocean carrier schedule reliability. Working together, Shanghai Shipping Exchange and CargoSmart will create a new methodology to calculate schedule reliability for key trade lanes to help shippers optimise their supply chains and for the industry as a whole to improve service quality, said a release.


As an open, fair and unbiased platform, Shanghai Shipping Exchange has been playing a significant role in providing up-to-date and accurate shipping information for the global shipping market, including publishing the China Containerised Freight Index (CCFI) and Shanghai Containerised Freight Index (SCFI). “The alliance with CargoSmart allows us to expand the insights we provide for the shipping industry,” said Mr Yao Weifu, Vice-President of Shanghai Shipping Exchange. “We look forward to collaborating with CargoSmart to deliver a new shipping index that increases transparency to ocean carrier performance.”


With over 20 years of experience in providing shipping management solutions and connections with more than 20 ocean carriers, CargoSmart monitors and analyses over 16,000 vessels, 1,400 global container terminals, 3,000 ocean carrier services representing 85 per cent of the market, and 10 million sailing schedules. By tapping into its comprehensive database and applying analytics, CargoSmart will enable effective and accurate measurement of ocean carriers’ schedule reliability performance. “CargoSmart and Shanghai Shipping Exchange share a common desire to improve supply chain efficiency and productivity,” said Mr Lionel Louie, Chief Commercial Officer of CargoSmart. “Our cooperation will extend our contributions to the shipping industry.”


Shanghai Shipping Exchange and CargoSmart will establish the index scope and methodology through a joint working group to further develop new insights for the shipping industry, the release added.

 

Source : Exim News Service - Hong Kong/San Jose (US), Sept. 10

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