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Shanghai launches new shipping index
By Fu Chenghao |
November 28, 2012, Wednesday
|
Online Edition
Online Edition
THE Shanghai Shipping Exchange today launched China's first dry bulk and crude oil import indexes to provide a reference for the Chinese market at a time when the shipping industry is struggling with oversupply.
The index, focus on China market freight charges, the world's largest in terms of dry bulk freight volume and shipping scale, will help shipping companies better their development strategy and cargo owner improve cost management.
Currently the traders of iron ore, grain and coal mainly look at London's Baltic Dry Index for reference.
The launch of the index also completes China's sole national shipping bourse's coverage on the freight charges of container, dry bulk and crude oil against the backdrop that Shanghai is sailing out as the world's leading shipping hub with its stronghold in shipbuilding, cargo turnover and its developing clout in shipping derivatives like the freight index and relevant talents.
"The segment is still in an incubation stage, but it's picking up pace and we are planning more products under pipeline," Zhang Ye, president of the bourse said.
The indexes will track vessels carrying goods and energy to the world's largest commodities consumer. It will focus on China market and be based on strict price collection from ship brokers, charters and owners. The bourse is also considering launching financial derivatives based on the index.
The index, focus on China market freight charges, the world's largest in terms of dry bulk freight volume and shipping scale, will help shipping companies better their development strategy and cargo owner improve cost management.
Currently the traders of iron ore, grain and coal mainly look at London's Baltic Dry Index for reference.
The launch of the index also completes China's sole national shipping bourse's coverage on the freight charges of container, dry bulk and crude oil against the backdrop that Shanghai is sailing out as the world's leading shipping hub with its stronghold in shipbuilding, cargo turnover and its developing clout in shipping derivatives like the freight index and relevant talents.
"The segment is still in an incubation stage, but it's picking up pace and we are planning more products under pipeline," Zhang Ye, president of the bourse said.
The indexes will track vessels carrying goods and energy to the world's largest commodities consumer. It will focus on China market and be based on strict price collection from ship brokers, charters and owners. The bourse is also considering launching financial derivatives based on the index.
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