At TPM 2017, a panel discussion examined the New York Shipping Exchange, or NYSHEX, a new digital way of contracting that aims to address dysfunctional issues at the core of the current model. In an interview with, CEO Gordon Downes discussed the problems this initiative aims to solve, and the specific value it can bring to the process for shippers, carriers, and freight forwarders currently limited by lack of control.
"Bad incentives and bad behavior" create chaos in container freight market, which costs carriers and shippers an estimated $23 billion annually, says Michael Ehrlich, finance professor at New Jersey Institute of Technology.
Detailing two topics discussed at length at TPM 2017, Port of Los Angeles Executive Director Gene Seroka joined for a discussion of HPEC — the Harbor Performance Enhancement Center, as well as a new partnership with General Electric Transportation on a portal/information sharing system. "This will provide visibility on cargo coming into Los Angeles 14 days before ship arrival," Seroka said.
The e-commerce boom helped balance 2016's weakened intermodal market, said XPO Logistics Chairman and CEO Brad Jacobs. In this interview, the TPM 2017 Keynote Speaker summarizes the main points of his presentation -- importance of technology and globalization of trade -- and integration future for XPO.
It's not so much disruptive technology that we need to consider, it's the points of tech evolution that will change customer expectations, said Panalpina's Senior Vice President Joshua Bowen.