Proving the Business Case for the Internet of Things

SSE, CargoSmart analytics to improve supply chain data

William Payne
September 19, 2019

US shipping management software provider CargoSmart and the Shanghai Shipping Exchange are collaborating to develop a new shipping index for ocean carrier schedule reliability. The two companies will create a new methodology to calculate schedule reliability for key trade lanes to help shippers optimise their supply chains and for the industry as a whole to improve service quality.

Shanghai Shipping Exchange publishes the China Containerised Freight Index (CCFI) and Shanghai Containerised Freight Index (SCFI). “The alliance with CargoSmart allows us to expand the insights we provide for the shipping industry,” said Yao Weifu, Vice President of Shanghai Shipping Exchange. “We look forward to collaborating with CargoSmart to deliver a new shipping index that increases transparency to ocean carrier performance.”

CargoSmart monitors and analyses over 16,000 vessels, 1,400 global container ports, 3,000 ocean carrier services representing 85% of the market, and 10 million sailing schedules. It plans to apply analytics to its database to provide accurate measurement of ocean carriers’ schedule reliability performance. “CargoSmart and Shanghai Shipping Exchange share a common desire to improve supply chain efficiency and productivity,” said Lionel Louie, chief commercial officer of CargoSmart. “Our cooperation will extend our contributions to the shipping industry.”

“At C.H. Robinson, we are committed to providing a customer-centric and efficient operation that takes customer needs, market conditions and regulations into account for our customers to optimise their supply chains,” said Kim Guan, Ocean Service Manager of logistics service provider, C.H. Robinson. “We are excited that the Shanghai Shipping Exchange will be offering a standardised schedule reliability index that we can benchmark to offer more insightful carrier and route recommendations for our customers.”

Shanghai Shipping Exchange and CargoSmart will establish the index scope and methodology through a joint working group to further develop new insights for the shipping industry.