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            december 12, 2019

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Shanghai Shipping Exchange, CargoSmart create a new shipping index


Shanghai Shipping Exchange, a shipping index organisation, and CargoSmart Ltd, a global shipment management software solutions provider, are joining forces to develop a new shipping index that aims to improve ocean carrier schedule reliability.
According to the terms of their Memorandum of Cooperation, the partners will create a new methodology to calculate schedule reliability for key trade lanes, to help shippers optimise their supply chains and for the industry as a whole to improve service quality.
The Shanghai Shipping Exchange has already been playing a significant role in providing up-to-date and accurate shipping information for the global shipping market, including publishing the China Containerised Freight Index (CCFI) and Shanghai Containerised Freight Index (SCFI).
"The alliance with CargoSmart allows us to expand the insights we provide for the shipping industry," said Shanghai Shipping Exchange vice president Yao Weifu. "We look forward to collaborating with CargoSmart to deliver a new shipping index that increases transparency to ocean carrier performance."
With two decades of experience in providing shipping management solutions and connections with 20 ocean carriers, CargoSmart monitors and analyses 16,000 vessels, 1,400 global container ports, 3,000 ocean carrier services representing 85 per cent of the market, and 10 million sailing schedules.
By tapping into its comprehensive database and applying analytics, CargoSmart will enable effective and accurate measurement of ocean carriers' schedule reliability performance.
"CargoSmart and Shanghai Shipping Exchange share a common desire to improve supply chain efficiency and productivity," said CargoSmart chief commercial officer Lionel Louie. "Our cooperation will extend our contributions to the shipping industry."

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