Shanghai: Shanghai Shipping Exchange(SSE) is going to introduce China’s first dry bulk and oil import indices on Wednesday this week.
CDFI and CTFI will focus only on China’s drybulk freight import market and crude oil import market respectively, and will be based on strict price collection from charterers, brokers and ship owners.
CDFI will be listed in dollar terms on either a per tonne basis or a daily basis. It will also track more than 10 freight routes to China. CTFI will specialise in two freight routes for VLCCs and SSE plans to expand to more than five routes next year.
"China owns the world's largest shipping capacity and is one of the world's biggest dry bulk consumers, so we hope to provide an index that focuses on China's market, which is very important for us," said Zhang Ye, President of SSE. [26/11/12]