World Container Index Launch Confirms Industry Appetite
The World Container Index (WCI) assessed by Drewry and produced in partnership with Cleartrade Exchange, the global electronic marketplace for freight and commodity derivatives, has found that the sample of indices, offered through their website, is seeing impressive levels of interest.
On 1 September WCI invited industry participants to sign up via the website to see a sample of the index data. This sample incorporates three of the 11 shipping routes which the indices cover. Its unique selling point is its independence within the market. This has shown to be an attractive proposition as in just under a week since its launch, the website has received over 1000 visits, leading to more than 500 sign-ups, which is very significant given the highly specialist nature of the content and industry sector.
“We have been very encouraged by the response we have seen in the first few days after our launch,” said Richard Heath of WCI. “A few organisations within the market have been openly critical of freight rate indices and the growth of container freight derivatives. However, the sheer level of interest and the number of enquires we have had for more information, clearly demonstrates that while some may be against this type of initiative a great many more have an appetite for these new tools and are ready to start embracing the benefits which they can offer.”