NYSHEX

New York Shipping Exchange NYSHEX Technology Logistic Providers

The New York Shipping Exchange (NYSHEX) is a digital platform which connects shippers with their ocean carriers, thus providing contract reliability between both parties. Shippers are guaranteed that their cargo will be loaded, and that the volume committed for shipment will actually arrive.

Using NYSHEX’s digital platform, shippers enter information about their shipments, such as origin and destination, shipping dates and equipment type. The ocean carriers post specific offers that shippers can instantly accept; a process that is faster and more efficient than traditional negotiations. Shippers view those binding offers directly from the carriers along with service performance details about the carriers and other details they need in order to make an informed decision about which bid to accept. Shippers compare all of the rates from the various carriers at once in one digital place, the NYSHEX platform. Any time of day, shippers can acquire guaranteed space on sailings that take place from two weeks up to 6 months in advance, providing them with greater certainty and peace of mind about their supply chain.

There's no markup from NYSHEX, which makes the connection and manages the execution of the contract. NYSHEX is integrated with all the carriers on the exchange as well as third-party booking platforms for seamless workflow. NYSHEX members include Hapag Lloyd, CMA CGM, OOCL, COSCO, and MOL.

NYSHEX moves into long-term contract space
12 Feb 2020
The New York Shipping Exchange has begun allowing shippers and freight buyers to migrate their long-term contracts with container lines onto the NYSHEX platform, essentially allowing contracts negotiated outside the exchange to be fully and mutually enforceable as if they were transacted within the exchange.
NYSHEX volume tripled, membership doubled in 2019
29 Jan 2020
New York Shipping Exchange (NYSHEX) said 96.4 percent of contracts last year were fulfilled, meaning that carriers accepted the cargo for the sailing it was booked for and cargo owners and non-vessel operating common carriers delivered the containers they contracted.
Maersk and NYSHEX are currently offering guaranteed ocean freight contracts, but the number of options available to shippers is expected expand in the months ahead.
12 Dec 2019
Singapore-based container line ONE is the seventh carrier to provide guaranteed digital contracts through NYSHEX, which seeks to resolve the systemic issue of shippers making multiple bookings and carrier overbooking.
Container contract reliability efforts gaining traction
05 Aug 2019
No-shows, or “downfall” in industry jargon, have plagued the industry for decades, but carrier attention has risen in recent years as pressure to increase waste rises, and digitalization provides opportunities to streamline the booking process
Hyundai Merchant Marine.
24 Jul 2018
The exchange is about encouraging carriers and shippers to move past a system driven by uncertainty: beneficial cargo owners face no penalty for booking a certain volume of cargo on a ship, and then failing to send it; and carriers face few consequences for leaving containers on the dock.
The Port of New York and New Jersey.
14 May 2018
NYSHEX’s digital exchange has the potential to increase cargo booking efficiency and reduce uncertainty and volatility, among other benefits. But can the platform evolve to meet the needs of a greater percentage of shippers, including larger shippers with complex supply chains? 
Port of New York and New Jersey.
20 Feb 2018
New York Shipping Exchange’s announcement of 12 industry executives that will sit on the exchange’s board of directors and advisory board will likely give shippers confidence in the industry’s embrace of the radical shift in booking that the online marketplace offers.
The NYSHEX marketplace aims to reduce the volume of containers that are rolled, or are not delivered as agreed by shippers.
04 Dec 2017
Four shipping carriers will help steer the New York Shipping Exchange.
21 Aug 2017
The new investment brings its total venture capital funding to $13 million.
01 Jun 2017
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 JOC.com, 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.
The New York Shipping Exchange says half of the top 10 ocean carriers have signed up for its platform.
21 Mar 2017
Cargo booking exchange platform secures funding of $8.5 million from GE and Goldman Sachs, among others.