The Shanghai Shipping Exchange (SSE) launched on 29 July two indices to track the trade volume and freights along the Silk Road Economic Belt and 21st Century Maritime Silk Road (Belt and Road), which were initiated by China.
One of the indices, the Belt and Road Freight Trade Index (SRFTI), is designed to track the volume and value of international trade between China and 66 countries along the Belt and Road, which are in Asia, North Africa, Europe, and Oceania, a statement of SSE said.
The other index, the Maritime Silk Road Freight Index (MSRFI), tracks the shipping freight rates of imported and exported containerised cargoes, imported dry bulk cargoes, and imported crude oil.
Both the indices are published monthly, with a basis index of 100 points set in January 2015. In July, the SRFTI closed at 98.98 pints, with the MSRFI closing at 92.46 pints.
China introduced the Belt and Road Initiative in late 2013.
“The most critical factors of the shipping industry shown in the Belt and Road strategy are trade volume and freight,” said Zhang Ye, president of SSE. “So, SSE starts from the trade volume and freight to publish the shipping factors for the Belt and Road strategy.”