NYSHEX

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

Global shipping in the ‘process of normalizing’

This fireside chat recap is from Tuesday, the first day of FreightWaves’ Global Supply Chain Week.

FIRESIDE CHAT TOPIC: Examining the current landscape of global maritime

DETAILS: A discussion with Gordon Downes, CEO of New York Shipping Exchange, about current trends in ocean shipping.

KEY QUOTES FROM DOWNES:

On the current state of global shipping: 

“I think it’s very clear that the market has normalized or is in the process of normalizing. Prices are coming down, close to pre-pandemic levels. The...

OceanWaves: Driving accountability in contract performance

This fireside chat is a recap from FreightWaves’ OceanWaves Summit on Wednesday.

FIRESIDE CHAT TOPIC: How much volatility can the ocean market take?

DETAILS: The risk of the market turning against you is ever present in negotiating ocean shipping contracts, and that can chill relations between shippers and carriers, both looking for an advantage. Longer contracts in the wake of severe disruption may become a more-or-less permanent solution to bring predictability and accountability to contracts.

SP...

https://www.freightwaves.com/news/oceanwaves-driving-accountability-in-contract-performance

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

‘Seismic shift’: Maersk commits to long-term relationships with shippers

In the past, the annual choreographed contract negotiations between ocean carriers and shippers were a bit like a high school prom. You didn’t particularly care for your date, but you didn’t want to miss the dance.

That’s not the case anymore, according to Charles van der Steene, the head of sales in North America for A.P. Møller – Maersk, who says the world’s largest ocean carrier is more and more entering into long-term committed relationships with shippers.  

“We’ve been very deliberate since...

https://s29755.pcdn.co/news/seismic-shift-maersk-commits-to-long-term-relationships-with-shippers

Texas power and two-way contracts — Midday Market Update

MMU 11/24

Michael Vincent welcomed Kaylee Nix to the Midday Market Update set as his new co-host for this episode. They explored the failures of Texas’ energy infrastructure during February’s winter storm and the world of ocean shipping contracts through the eyes of the New York Shipping Exchange (NYSHEX).

In headlines, Andrew Cox highlighted a deep view of the LTL freight market and talked about two Canadian trucking companies shutting down, as well as what union decertification means for a California...

https://s29755.pcdn.co/news/texas-power-and-two-way-contracts-midday-market-update

Shippers brace for fresh price hikes in the ‘new normal’ for ocean freight

Shippers are bracing themselves for a fresh onslaught of freight rate hikes and peak season surcharges (PSS) from April, as ocean carriers reinforce their supply chain dominance across tradelanes.
Carriers have begun to focus on the traditionally low-revenue backhaul routes in order to restore rates to levels that will incentivise them to make equipment available for cargo shipments, rather than using the default option of deadheading empty containers back to Asia.
For …

The post Shippers brace...

https://theloadstar.com/shippers-brace-for-new-price-hikes-in-the-new-normal-for-ocean-freight/

GSCW chat recap: Navigating volatility and unpredictability in container shipping

Steve Ferreira and Gordon Downes at Global Supply Chain Week

This fireside chat recap is from Day 7 of FreightWaves’ Global Supply Chain Week. Day 7 focuses on global maritime logistics.

FIRESIDE CHAT TOPIC: Managing volatility in ocean shipping

DETAILS: A look at recent changes in the fundamentals of ocean container shipping, some of which may be more structural in nature than many believe.

INTERVIEWER and SPEAKER: Steve Ferreira is the founder and CEO of Ocean Audit, a global refund audit consultancy, andGordon Downes is the CEO ofNew York Shipping...

https://www.freightwaves.com/news/gscw-chat-recap-navigating-volatility-and-unpredictability-in-container-shipping

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

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