Shanghai Shipping Exchange unites with CargoSmart
Shanghai Shipping Exchange has signed a Memorandum of Corporation (MoC) in order to build a shipping index for ocean carrier schedule reliability with CargoSmart.
According to reports, CargoSmart and the Shanghai Shipping Exchange will create a new methodology to calculate schedule reliability.
This will specifically be for key trade lanes but will also optimise supply chains and for the wider industry to improve service quality.
In recent years, the Shanghai Shipping Exchange has been playing a key role in providing up-to-date and accurate shipping information for the global market, publishing the China Containerized Freight Index (CCFI) and the Shanghai Containerized Freight Index (SCFI).
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.”
Launched in 2000, CargoSmart works with over 160,000 transportation and logistics professionals to increase delivery reliability, lower transportation costs, and streamline operations.