Shanghai Shipping Exchange officially launched SCFIS

On November 2, 2020, Shanghai Shipping Exchange officially launched Shanghai (Export) Containerized Freight Index based on Settled Rates (SCFIS).

SCFIS represents the change in the settlement freight rate of Shanghai export container shipping market, reflecting the average level of settlement freight rates in the spot market for Shanghai-Europe and Shanghai-Western US routes after container ships depart.

In order to meet the needs of international container shipping freight derivatives trading, SSE developed Shanghai (Export) Containerized Freight Index (SCFI) in 2009.

In order to meet the needs of hedging the risk of freight rate fluctuations, based on CCFI and SCFI, SSE integrated resources to develop SCFIS.

From 1998 to 2020, Shanghai Shipping Exchange has launched 21 major categories of indexes, covering multiple fields such as containers, bulk cargo, ship trading, crew compensation, and the "Belt and Road Initiative", forming "Shanghai Shipping Index" series.

With the addition of SCFIS, "Shanghai Shipping Index" has reached a new level, achieving new breakthroughs, and the index is developing towards higher quality.

Source: Sarah Yu, XINDE MARINE NEWS

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