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Shanghai Shipping Exchange and CargoSmart to develop schedule reliability index

Shanghai Shipping Exchange and CargoSmart have signed a Memorandum of Cooperation to develop a new shipping index measuring ocean carrier schedule reliability.

Under the agreement Shanghai Shipping Exchange and CargoSmart will create a new methodology to calculate schedule reliability for key trade lanes to help shippers optimize their supply chains and for the industry to improve service quality.

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

Lionel Louie, chief commercial officer of CargoSmart said that CargoSmart and Shanghai Shipping Exchange shared a common desire to improve supply chain efficiency and productivity, the cooperation would their our contributions to the shipping industry.

The two parties will form a joint working group to further develop new insights for the shipping industry.

Shanghai Shipping Exchange, jointly founded by China’s Ministry of Transport and Shanghai Municipal People’s Government, is the first state-level shipping exchange in China.

CargoSmart, a leading global shipment management software solutions provider, with over 20 years of experience in providing shipping management solutions, monitors and analyzes over 16,000 vessels, 1,400 global container ports, 3,000 ocean carrier services representing 85% of the market.