Official Launch of New Shanghai Containerized Freight Index(SCFI) | |
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On October 16th, the launch ceremony of new SCFI was solemnly held at Shanghai Shipping Exchange (SSE). The ceremony was attended by superior leaders from the Ministry of Transport (MOT) and Shanghai Government, distinguished guests, representatives of freight index panelists and public media.
Bulk Freight Index (CBFI). To follow the pace of dramatic development of China’s container transport market, SSE compiled CCFI under the sponsorship of Ministry of Transport (MOT). After more than 10 years of successful operation, it has produced a great effect both at home and abroad and generated considerable economic and social benefits. It is now deemed as the most scientific and authoritative freight index second to the Baltic dry bulk indices and thus cited by UNCTAD in the maritime yearbooks. In 2005 for the purpose of meeting the demand of building Shanghai International Shipping Center and reflecting the momentum of Shanghai container liner service market more objectively and accurately, SSE further developed Shanghai (Export) Containerized Freight Index (SCFI).
of 1,000 points and the base period of October 16th 2009. The freight information is provided by 30 panelists of CCFI Panel. On each Friday, SSE will compile and publicize the new SCFI and spot rates of 15 individual routes, namely the Mediterranean Sea, Europe, US west coast, US east coast, Australia/New Zealand, West Africa, South Africa, South America, Persian Gulf, West Japan, East Japan, Southeast Asia, Korea, Hong Kong and Taiwan.
understandable to users. All shipping-related enterprises as well as other entities and organs may easily understand the change of freight rates of major shipping routes departing Shanghai, which facilitate users’ decision-making and satisfy the demand of container derivatives transaction.
Industry and Advanced Manufacturing Industry in Shanghai and Construction of Shanghai International Finance Center and International Shipping Center (the Circular for short), which clearly states one of the main tasks and measures in cultivating the international shipping center, “To improve supportive policies for modern shipping development… broaden the product line of shipping finance, speed up development of freight index derivative and provide risk control for domestic shipping enterprises.”
shipping finance derivative. The Circular of the State Council greatly encourages SSE and clearly defines the orientation. By implementing the spirit and significance of the Circular, the new SCFI not only offers an important tool of market analysis, but also meets the demand of forward transaction so as to improve the words right and price decision status in the international liner operation circle. |
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