Shanghai Shipping Exchange, a leading shipping index organization, and global shipment management software solutions provider CargoSmart, have signed a Memorandum of Corporation (MoC) to develop a shipping index for ocean carrier schedule reliability.
According to a statement, the Shanghai Shipping Exchange and CargoSmart will create a new methodology to calculate schedule reliability. This will specifically be for key trade lanes but will also optimize supply chains and for the wider industry to improve service quality.
Shanghai Shipping Exchange has been playing a key role in providing up-to-date and accurate shipping information for the global market.
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This includes the publication of the China Containerized Freight Index (CCFI) and the Shanghai Containerized Freight Index (SCFI).
What is the Shanghai Shipping Exchange?
Yao Weifu, Vice President of Shanghai Shipping Exchange, said: “The alliance with CargoSmart allows us to expand the insights we provide for the shipping industry.
“We look forward to collaborating with CargoSmart to deliver a new shipping index that increases transparency to ocean carrier performance.”
Who are CargoSmart?
For their part, CargoSmart have more than 20 years of experience in shipping management solutions and currently monitor 16,000 vessels across 20 carriers.
As well as that, it serves approximately 85% of the market, including 1,400 container ports, 3,000 ocean carrier services and 10 million sailing schedules.
“CargoSmart and Shanghai Shipping Exchange share a common desire to improve supply chain efficiency and productivity,” said Lionel Louie, chief commercial officer of CargoSmart.
“Our cooperation will extend our contributions to the shipping industry.”