SINGAPORE investors have a new stock index to follow - on the shipping industry.

The FTSE ST Maritime Index was launched on Sept 1 to provide investors and analysts a benchmark tool to track and measure the performance of Singapore-listed companies in the maritime industry.

This new index, an extension of the FTSE ST Index series, comprises 12 companies that have at least 55 per cent of their revenue derived from maritime-related activities.

Such activities include the manufacturing, ownership, operation and repairing of commercial or cargo vessels.

Based on historical calculations, the FTSE ST Maritime Index is up 62.89 per cent for the year, outperforming the blue-chip Straits Times Index, which is up 52.16 per cent.