(Yicai Global) July 10 -- Shanghai Shipping Exchange (SSE) will launch the Belt and Road Shipping Trade Index, which it says will help shipping, trading and investment enterprises with their investments in the Belt and Road countries and hedge risks involved. The announcement was made by Zhang Ye, president of SSE.
The index is composed of three categories of indices, which are Belt and Road Trade Volume Index, Belt and Road Freight Amount Index and the Maritime Silk Road Freight Index, Yicai Global learned.
Among them, the Belt and Road Trade Volume Index includes one composite index and eight component indices, namely the trade volume index between China and North Asia, Central Asia, South Asia, South-East Asia, West Asia, North Africa, Europe and Oceania, respectively, which cumulatively covers the trade and transactions between China and 66 countries along the Belt and Road.
The Belt and Road Freight Amount Index contains one composite index and five components indices, which are railway freight export index from China to countries along the Belt and Road, the shipping volume index of export container from Shanghai to the Belt and Road countries, the index of seaborne imports of coal and iron ore, the index of seaborne crude oil imports by China from the Belt and Road countries, as well as the subdivision of regional indexes.
The Belt and Road Freight Amount Index reflects the change in railway freight volume in major countries along the economic belt, particularly between China and key countries along the Silk Road, such as Mongolia, Russia, Central Asia, Southeast Asia and Europe. The Belt and Road Freight Amount Index reflects the change in seaborne trading volume of major goods such as coal, ore and oil between China and the countries along the route, which includes regions along the Maritime Silk Road, such as Southeast Asia, West Asia, South Asia, Europe, Oceania and North Africa.
The Maritime Silk Road Freight Index includes one composite index and four component indices, namely the Maritime Silk Road Export Container Freight Index, Import Container Freight Index, Import Dry Bulk Freight Index and Import Crude Oil Tariff Index, and Subdivision Route Index. The index covers the main cargo and main routes of the Maritime Silk Road in Asia, Africa and Europe.
The index's base period is January 2015, with the base period index is being 100 points. According to Zhang Ye, the data is collected and processed by SSE, as well as the series of routes from CCFI, CICFI, CDFI, CTFI and other Shanghai shipping price indices issued by SSE. It will release the index at the last working day of each month.