In order to further accelerate the supply-side reform of Chinese seafarers market, better safeguard the rights and interests of Chinese seafarers, promote and optimize the allocation of human resources in seafarers market, establish an efficient operation system of seafarers market, and support the healthy development of seafarers market, with the support of Shanghai Maritime Administration and the active efforts of all relevant parties, Shanghai Shipping Exchange has developed the China (Shanghai) International Seafarers' Remuneration Index (CCRI) and started its trial operation on June 25, 2017.

I. Calculation of composite index
The calculation of CCRI involves 15 different occupations including captain, first mate, second mate, third mate,chief engineer, second engineer, third engineer, electrician, fourth engineer, boatswain, chief motorman, sailor, motorman, chef and steward.
By navigation zone, it is categorized as the seafarers' remuneration for international voyages, and the seafarers' remuneration for domestic voyages.
In each navigation zone, it is further categorized by vessel type, i.e the seafarers' remuneration for container ship, bulk carrier, oil tanker and chemical carrier.

II. Sample Companies
Sample companies are seafarers labor service companies or ship management companies located in Shanghai.

III. Index Compilation and Publication
i. The method of arithmetic average is adopted in the index calculation by vessel type and post.

i is the vessel type, j is the post, k is the sample company, n is the number of sample companies of vessel type i and post j.
ii. The remuneration indices for officers and ordinary seafarers are calculated using Laspeyres method.

P​ij​​ is the remuneration index level of j post of vessel type i in the current period, s is the number of senior seafarers posts, t is the number of ordinary seafarers posts, Wi is the weight of vessel type, and the base period is set at 1,000 points.
iii. The index calculation method of China international seafarers remuneration and China coastal seafarers remuneration.


Ig is the China international seafarers remuneration index,is the China international seafarers remuneration index for senior seafarers, is the China international seafarers remuneration index for ordinary seafarers, is the China coastal seafarers remuneration index,is the China coastal seafarers remuneration index for senior seafarers, is the China coastal seafarers remuneration index for ordinary seafarers, s is the number of senior seafarer posts, t is the number of ordinary seafarers posts.

IV. Index publication
During the trial operation, Shanghai Shipping Exchange releases the CCRI around 15:00 on the last Tuesday (working day) of each month.