The comprehensive freight index for the transportation of iron ore and coal, the two bulk cargoes of Yangtze River shipping, was released on Dec 17, according to local media reports.
Iron ore and coal are the two bulk cargoes of Yangtze River shipping, and their comprehensive freight index is a barometer of the Yangtze River shipping index.
The Yangtze River Basin is an important base for China's steel production, and the demand for coal is huge.
The transportation of iron ore and coal is mainly done by water. The transportation price is affected by objective conditions such as source of goods, cargo volume, water volume, loading rate, and docking of sea vessels. It is also affected by weather and seasons, so there are many uncertainties.
The Wuhan Shipping Exchange and Wuhan University of Technology have screened typical shipping routes and published a comprehensive iron ore and coal freight index every week in order to promote the high-quality development of the Yangtze River shipping market.
The Yangtze River (inland rivers) shipping standard contract has also been officially unveiled at a press conference. This contract is the first standard contract for waterway cargo transportation on the inland rivers of China.
For a long time, the inland water cargo transportation sector had not formed a standard contract format, making it prone to disputes.
The Wuhan Shipping Exchange has launched standard contract formats for four types of cargo, including containers, ro-ro trucks, dry bulk cargo, and liquid cargo. These will be developed, using software, to include mobile phone signing and other functions, making it more convenient for enterprises.
According to the person in charge of the Shanghai Changjiang Shipping Co, the contract has solved a major problem for them, greatly simplified the contract negotiation process, minimized or even avoided disputes, and put the Yangtze River inland shipping transactions in a better state.
