THE Shanghai Shipping Exchange (SSE) is meeting with the US Federal Maritime Commission and US shipper and non-vessel operating common carriers to discuss the disclosure of sensitive and freight indices.

    When they meet in Washington, the SSE delegation will discuss confidentiality concerns with FMC officials and its chairman Richard Lidinsky over the exchange's requirement to file shippers' names when filing service contract rates; information kept confidential by the FMC.

    Unlike the FMC, who members are state-employees, the Shanghai exchange board members come from the private sector, often from ocean carriers.

    Cosco Americas' president Liu Hanbo said the SSE's purpose is to foster "a relationship of integrity and trust with our customers, employees and partners."

    Mr Lidinsky recognises the importance of working together with SSE and Chinese carriers which "adhere to all the rules and regulations", reported American Shipper. The SSE also hopes to explain its freight rate indices including the much disputed Shanghai Containerised Freight Index (SCFI) in support FMC's proposed rule to allow service contracts to be adjusted on the basis of changes to freight rate indices.

    The FMC intends the ruling to provide common carriers and their customers with certainty and flexibility if they decide to use long-term contracts that adjust based on a freight rate index that reflects changes in market conditions.

(source:http://www.shippingonline.cn/news/newsList.asp?classname=News)