The SCFIS (Europe service) is compiled through the 

following process:

Step 1: Data collection

According to the SSE specification, sample companies 

will, during 0:00-13:00 each Monday Beijing time, 

transmit information from the executed bills of lading (B/

L) for voyages with actual departure time (ATD) between 

0:00 last Monday and 24:00 last Sunday through the 

application program interface (API) automation system. 

Each B/L contains such information as B/L number 

(unique), destination port, container volume by container 

type and corresponding freight rate.

Step 2: Data pre-treatment

(1) Verifying the B/L information. SSE uses the manifest 

data from Shanghai port to verify the information on each 

reported B/L such as the name of the ship, voyage, and 

ATD, and check whether the shipping schedule complies 

with the criteria for inclusion. Non-compliant data are 

excluded from index calculation.

(2) Checking for duplicated B/L records of liner and 

freight forwarder. If the forwarder’s freight rate is lower 

than the liner’s, the former will not be used.

(3) Removing outliers. SSE first screens out outliers 

of the freight rates for 20’ containers and 40’ containers 

by applying the Grubbs or Pauta tests, then for each 

container type screens out the highest 10% and lowest 

10% of the remaining freight rates from all sample 

companies.

(4) Limiting over-representation. SSE caps the container 

volume share of any single sample company by container 

type at 50%. An over-represented sample company’s 

container volume will be reduced to 50% by multiplying 

the volume of each B/L with the same coefficient.

Step 3: Index Calculation

After the above steps:

(1) Calculating the average freight rate by container type. 

The total freight rates of all remaining B/L divided by the 

total container volume equals the average freight rate.

(2) Calculating the benchmarking price index by container 

type. The average freight rate divided by the average 

freight rate on the base date, and then multiplied by 1000 

equals benchmarking price index by container type for the 

current period.

(3) Calculating SCFIS (Europe service). The weighted 

average of the benchmarking price index by container 

type is the SCFIS (Europe service).

For the details of the compilation of SCFIS (Europe 

service) please refer to the Rules for Compilation of SCFI 

based on Settled Rates (Provisional) published on SSE’s 

official website.

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