New York Shipping Exchange

Nyshex closes latest funding round, launches shipping rate indexes

The New York Shipping Exchange (Nyshex) announced Tuesday it has closed on its latest funding round and that it’s working with Intercontinental Exchange Inc. (ICE) to launch new shipping rate indexes.

Founded in 2015, Nyshex is a facilitator of two-way committed ocean container shipping contracts, ensuring contract performance between carriers and shippers on a shared digital platform. The exchange works to establish clear contract terms, providing an exception resolution process by a neutral...

https://www.freightwaves.com/news/nyshex-closes-latest-funding-round-launches-shipping-rate-indexes

What can frustrated ocean shippers do? — The Stockout

In this episode of The Stockout, FreightWaves host Mike Baudendistel and Don Davis from NYSHEX discuss strategies that ocean shippers can use to deal with one of the biggest logistical issues of 2021 — finding space on ocean vessels. 

Baudendistel starts out by talking about last week’s top stories in the consumer packaged goods industry, and then the two dive into strategies for ocean shippers ahead of the peak-season crunch.

You can find more episodes of The Stockout and recaps for all our live...

https://www.freightwaves.com/news/what-can-frustrated-ocean-shippers-do-the-stockout

Ocean freight shipping exchange Nyshex nets $15M in latest round

Hapag-Lloyd is a member of Nyshex

Facilitator of two-way committed ocean contracts New York Shipping Exchange (Nyshex) announced Wednesday it has raised $15 million in a recent funding round. The round was led by NewRoad Capital Partners and included Collate Capital, Blumberg Capital and the New York Angels.

Since its start in 2015, Nyshex has sought to ensure contract performance between shippers and carriers on its digital platform.

The exchange is designed to make sure ocean shipping contract terms are clear, there is an...

https://www.freightwaves.com/news/ocean-freight-shipping-exchange-nyshex-nets-15m-in-latest-round

Sparking Increase In Shipping Expenses

Higher shipping expenses for business are forcing companies to pass the extra costs on to consumers., says an article published in BloombergQuint.

The immense hike in prices

The price for a container of goods from China to the U.S. West Coast and European ports have stopped near record highs for several months.

The contract rates along the bellwether trade lane linking Asia with North America, are coming in around $2,500 to $3,000 for a 40-foot container which are 25% to 50% higher than a year ago.

https://mfame.guru/sparking-increase-in-shipping-expenses/

No rate relief for ocean shippers as hopes of usual post-CNY slump sink

Ocean carriers are determined to keep container spot rates at their highly elevated levels for as long as possible, as they look to lock in annual contract customers with rate increases of 100% or more. 
And with no sign of a spot rate decline following the beginning of Chinese New Year last week, shippers that have held off sitting down with their carriers, expecting the normal rate erosion after CNY, are …

The post No rate relief for ocean shippers as hopes of usual post-CNY slump sink...

https://theloadstar.com/no-rate-relief-for-ocean-shippers-as-hopes-of-usual-post-cny-slump-sink/

NYSHEX charts course for calmer contractual waters

The saying goes that a rising tide lifts all boats; does the same apply to ocean contracts? The New York Shipping Exchange (NYSHEX) says yes. The startup is on a mission to solve inefficiencies that often sink container shipping relationships.

Containerized freight contracts have become major issues as nonperformance — on both sides of the contract — is plaguing ocean freight. No matter what’s written in ink, poorly drawn contracts have led to a broad understanding in the maritime industry that...

https://www.freightwaves.com/news/nyshex-charts-course-for-calmer-contractual-waters

+ More