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.