The Shanghai Shipping Exchange has launched a new index in order to better control the risks from the volatility in container freight rates and promote derivative trading.
The Shanghai (Export) Containerized Freight Index based on Settled Rates (SCFIS), which will be updated every Monday, reflects the average settled container shipping rates on the routes from Shanghai to Europe and the US west coast.
The index was launched after container shipping rates spiked to record levels on China – US routes in the past couple of months, forcing Chinese authorities to intervene.
