SSE plans platform for used ship trade

SHANGHAI: Shanghai Shipping Exchange (SSE) is poised to launch a platform for second-hand ship trading as early as the third quarter of this year, a company executive said yesterday.

SSE President Zhang Ye said that all preliminary work for the exchange platform, including network support and software development, has been completed, and it was waiting for detailed guidelines from the Ministry of Transport.

In addition, Zhang said that the exchange was still working on introducing more financial derivatives, such as developing futures products based on the China Containerized Freight Index (CCFI), which is the world's only gauge to track the container freight market.