SSE, CargoSmart Launch Carrier Reliability Index

Chinese shipping index organization Shanghai Shipping Exchange (SSE) and  shipping management software provider CargoSmart have signed a memorandum of cooperation (MoC) to develop a new shipping index for ocean carrier schedule reliability.

Both parties will work together to create a new methodology to calculate schedule reliability for key trade lanes to help shippers optimize their supply chains and for the industry as a whole to improve service quality.

SSE has been playing a significant role in providing up-to-date and accurate shipping information for the global shipping market, including publishing the China Containerized Freight Index (CCFI) and Shanghai Containerized Freight Index (SCFI).

“The alliance with CargoSmart allows us to expand the insights we provide for the shipping industry,” said Yao Weifu, Vice President of Shanghai Shipping Exchange. “We look forward to collaborating with CargoSmart to deliver a new shipping index that increases transparency to ocean carrier performance.”

With over 20 years of experience in providing shipping management solutions and connections with more than 20 ocean carriers, CargoSmart monitors and analyzes over 16,000 vessels, 1,400 global container ports, 3,000 ocean carrier services representing 85% of the market, and 10 million sailing schedules.

“CargoSmart and Shanghai Shipping Exchange share a common desire to improve supply chain efficiency and productivity,” said Lionel Louie, chief commercial officer of CargoSmart. “Our cooperation will extend our contributions to the shipping industry.”