SSE has a clear specification on the freight rate 

information collected from the panelists of the Index 

Compilation Committee. The specification covers the port 

of departure, port of destination, cargo type, container 

type and size, payment method, shipping terms, freight 

composition, and currency. Specifically, the port of 

departure is the Port of Shanghai; the port of destination 

is the base port of the route—Hamburg, Rotterdam, 

Antwerp, Felixstowe, and Le Havre. The containers are 

dry cargo containers, including 20-foot General Purpose 

containers (20GP), 40-foot General Purpose containers 

(40GP), and 40-foot High Cube containers (40HQ). The 

cargoes are general cargoes. The payment method is 

the prepayment of freight. The shipping term is Container 

Yard to Container Yard (CY/CY). The freight comprises 

the per-container ocean freight and related surcharges,

which include fuel-related surcharge (e.g., BAF/FAF/LSS), 

currency surcharge (e.g., CAF), peak season surcharge 

(e.g., PSS), war surcharge (e.g., WRS), port congestion 

surcharge (e.g., PCS), canal surcharge (e.g., SCS/SCF/

PTF/PCC), and other per-container USD ocean freight 

surcharges.

The spot market for shipping liners is defined as a threemonth or less contract market, or a FAK (Freight All Kinds 

Rates)-based market, or an open market. The spot market 

for freight forwarders is defined as a market for retail 

contracts between them and clients, and the transaction 

price in which is not influenced by such factors as the type 

of cargo owner or the particulars of container volume.

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