Zhejiang publishes first road freight rate index in bid to end rate volatility
2012 05 25
- Details
ZHEJIANG Provincial Transportation Department and government of Yiwu city have issued the province's first road cargo transportation rate index after one year's trial operation, to provide reference for the making of logistics industry policies, Xinhua reports.
The Yiwu road freight rate index is comprised of indicators of rate and industry prosperity. Statistics are collected from transportation routes from Yiwu, a manufacturing base of the Yangtze River Delta.
The index released in April was 103.14 points, down 0.5 points compared to March, but still in the prosperity section. Container rate index was 106.74.
Besides providing reference for policy makers, the index can also help to lead market competition onto an orderly and healthy track, experts said.
Experts from the industry said Yiwu's products has lower prices and profit, which makes buyers or suppliers of these product care more about the cost of transportation. This situation has resulted in destructive price undercutting competition of carriers.
With launch of the index, freight rate has become steady. Difference has narrowed between the rates of the cargo on the same route and of the same weight. Customers are shifting their focus to efficiency and service quality.
Zhejiang Provincial Transportation Department deputy director Zheng Liming said the government plans to widen the adoption of freight rate index to other cities in the province like Hangzhou and Ningbo.
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