THE Shanghai Shipping Exchange (SSE) has launched a Belt and Road trade index, a Belt and Road freight volume index, and a Maritime Silk Road freight index, to track freight trade data generated by the countries involved in the massive transport infrastructure development initiative.

Tom Miller, author of the just published, China's Asian Dream: Empire Building along the New Silk Road, believes shipping will benefit enormously from the One Belt One Road initiative (OBOR) despite increased spending on rail freight infrastructure, reported Splash 24/7.

"I don't see a big shift to overland freight," said Mr Miller. "Conventional shipping is cheaper and most consumer goods do not need to be delivered in two weeks. The volumes will grow as more rail routes and services are added, but it's not realistic to expect overland freight to account for more than few per cent of overall freight volumes."

Chairman of BW Group Andreas Sohmen-Pao agrees the OBOR project will be a massive boon for shipping.

Speaking at a seminar at Nor-Shipping in Oslo last month, Mr Sohmen-Pao said OBOR covers an area that constitutes two-thirds of the world's population and one-third of world GDP.

The BW chairman said that in the last two years China had signed 26 trade agreements, creating 56 new economic trading zones in 21 nations, and predicts the figures will double within a couple of years.