Container shipping has another index it can consult. The Korea Ocean Business Corporation (KOBC) Container Composite Index (KCCI) has been launched to give shippers out of South Korea a better handle on the markets.
The index, to be updated every Monday, has been created by the Ministry of Oceans and Fisheries and state-run KOBC, and is based on 13 routes from Busan, the nation’s top port. It has been in pilot mode for the last 10 months, prior to today’s official launch.
Container shipping has many indices already including ones operated by Drewry, Xeneta, Freightos and the Shanghai Shipping Exchange. In June this year, digital forwarding and supply chain platform Shifl launched SHIFEX, a spot freight rate index focusing on the transpacific.
