Shanghai Shipping Exchange has formed a partnership with shipping management software provider CargoSmart to develop a new shipping index for ocean carrier schedule reliability.
The two parties will work together to create a new methodology to calculate schedule reliability for key trade lanes to help shippers optimise their supply chains.
“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,” said Yao Weifu, vice president of Shanghai Shipping Exchange.
“CargoSmart and Shanghai Shipping Exchange share a common desire to improve supply chain efficiency and productivity. Our cooperation will extend our contributions to the shipping industry,” said Lionel Louie, chief commercial officer of CargoSmart.
CargoSmart monitors and analyses over 16,000 vessels, 1,400 global container ports, 3,000 ocean carrier services representing 85% of the market, and 10 million sailing schedules.
Shanghai Shipping Exchange currently publishes two major indexes to the shipping industry – the China Containerized Freight Index (CCFI) and Shanghai Containerized Freight Index (SCFI).
Currently, the existing top name when it comes to analysing liner reliability is Copenhagen-based Sea Intelligence.