News

December 11, 2018

Shanghai Shipping Exchange releases China (Shanghai) Seaborne Import Index

The Shanghai Shipping Exchange released the China (Shanghai) Seaborne Import Index at a shipping exchange forum recently.

The seaborne import index’s origin period started in January 2017 with an index of 100 points, including one comprehensive index and six continents (South America and North America have separate indexes), seven indexes of the belt and road countries and regions.

The indexes, involving more than 600 ports in 75 countries and regions, will be released at the beginning of every month through the official website of Shanghai Shipping Exchange and www.Chineseshipping.com.cn.

It is believed in the shipping industry that the indexes will reflect China’s imported trade volume’s ups and downs and the country’s real-time global import markets, and it can help Shanghai to serve the country in the industries of shipping and trade information.

Also, the China Coastal Bulk (Metallic Ore) Freight Index and the China Coastal Bulk (Grain) Freight Index were released on the same day, which will play a guiding role for the country’s metallic ore and grain shipping markets, adding the number of indexes released by the exchange from 17 to 20.

According to the three-year action plan (2018-2020) for Shanghai to build itself into an international shipping center, Shanghai will highly aggregate shipping resources, complete shipping service functions, optimize the shipping market environment, offer efficient modern logistics services, and have the capability to distribute global shipping resources by 2020.

At the forum, the shipping experts believed the breakthrough point for Shanghai to build itself into an international shipping center lies in high-end service capabilities.

Jiang Yan, board chairman of the Shanghai Futures Exchange, said the series of indexes can give direct indication that China is becoming more and more influential. It is heading towards a superpower in the marine industry. The upgrade of the competitiveness of shipping financial service is an important part of building the city into an international shipping center, and the development of the shipping indexes and derivatives are important measures to upgrade the shipping financial service.

The Shanghai Shipping Exchange and Shanghai Futures Exchange will jointly research and develop shipping freight index to help the shipping and import and export companies to prevent risks, and it is expected to be launched at the end of next year.

Zhang Ye, chairman of Shanghai Shipping Exchange, said the series of indexes will help Shanghai to set up its shipping brand and catch up to its global counterparts.

In addition, the Shanghai Shipping Exchange announced that it will launch a service platform to explore the “Internet plus shipping” business model that will provide online and offline shipping and trading related services, including the collaboration with banks that will allow domestic payment to be settled online in dollars, shipping assets online trade, auction, evaluation, and agency service, and online ordering of shipping information products.