Shipbuilding industry faces severe test amid sluggish global market
According to China Daily, Shanghai Shipping Exchange launched the mainland’s first dry bulk and oil import indices on Wednesday, to track bulk carrier and tanker trades with the world’s largest consumer of commodities.
Officials said the China dry bulk import index and the China oil import index will provide better insight into shipping prices, and cater for the growing demands of businesses who need to have quick access to the latest shipping prices in China’s domestic market.
The new indices will also give China more say in the under-pressure global shipping market, the exchange added, especially as Shanghai continues its quest to become one of the leading international shipping centers.
Source: China Daily