Another container index launches

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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