The New York Shipping Exchange steps up its game to serve “digitized” logistics

Ideally, NYSHEX will usher in a fair, transparent and compliant process to ensure the interests of members are incorporated into the operation of the exchange.

By ·

More evidence supporting the “digitization” of the ocean cargo industry surfaced last week when (NYSHEX) announced the appointment of new members to its board of directors and launch of the governing NYSHEX Member Council. 

This news follows the Federal Maritime Commission's (FMC) approval late last year of the NYSHEX governance model.

Ideally, NYSHEX will usher in a fair, transparent and compliant process to ensure the interests of members are incorporated into the operation of the exchange.

The NYSHEX governance model adds four industry representatives to the NYSHEX board of directors, two will be filled by shipper members (BCOs or NVOCCs) and two will be carrier members. The governance model also establishes the NYSHEX member council consisting of three BCOs, three NVOCCs, and three Carrier representatives. 

"As we continue to grow the exchange, our governance model ensures that our members, actively participate in the oversight and governance of the exchange. We are excited to have these industry innovators and leaders help NYSHEX to establish fair and transparent standards for digital freight contracting, and to build enabling technology that everyone in the industry can benefit from," said .

The NYSHEX board consists of nine directors who are overall responsible for the oversight of the exchange. The four industry representatives who join the NYSHEX board of directors are: 

  • Bjorn Jensen, VP Global Logistics for
  • Jochen Gutschmidt, Head of Global Logistics Procurement at
  • Nick Fafoutis, SVP of Sales and CCO of
  • Donald Davis, SVP of Sales and Customer Service for

The NYSHEX board is supported by the NYSHEX member council whose role is to propose recommendations or changes to NYSHEX operations, processes, and technology. The industry representatives who will join the NYSHEX member council are: 

  • Mark Chadwick, Executive Sourcing Leader,
  • Glenn Berger, VP Global Transportation,
  • April Zobel, Export Traffic Manager,
  • David Newton, CCO,
  • Nerijus Poskus, VP Global Head of Ocean Freight,
  • Arnold Lee, CEO of
  • Peter Hildebrandt, VP Revenue Management and Optimization,
  • Howard Finkel, EVP,

To ensure the industry and exchange members are impartially represented the industry board members and the member council representatives will rotate on a yearly basis. 

NYSHEX is designed to provide the global ocean cargo industry with a simplified and standardized digital freight contract. NYSHEX is compliant with all U.S. regulations as well as the FMC's contract filing requirements. Buyers of container shipping services: shippers and NVOCCs, use NYSHEX at no cost. Initially, they must be pre-accredited with NYSHEX to get started. Ocean carriers pay a transaction fee of $5 per twenty-foot equivalent unit (TEU).

According to , "Improving the inefficiencies in pricing and contracting in the container shipping industry is one of the biggest opportunities we have. It has been a resource intensive and frustrating process for most shippers for years. NYSHEX brings much needed innovation to this area, immediately improving efficiencies for shippers while enabling the carriers to better manage their cargo flows and service networks. I am proud to represent the interest of global shippers as a member of the board." 

For Jochen Gutschmidt, Head of Global Procurement at Nestlé, "It is a great opportunity and honour to represent global shippers on the board of NYSHEX. The freight contracting process has not really evolved in decades, if ever, and NYSEHX has all it needs: from people to technology - to innovate and drive transparency, accountability as well as compliance in what's a tedious and for many frustrating process in today's global logistics world."

Nick Fafoutis, SVP of Sales and CCO of CMA CGM America adds, "The CMA CGM group has a heavy interest in what the digital future looks like for container shipping. We believe that digital innovation enables us to provide new options to our customers making it easier to do business with us. This is why CMA CGM made the founding member investment in NYSHEX." 

"Hapag-Lloyd invested in NYSHEX to take a proactive role in solving the industry challenges of unreliability and unpredictability caused by complex and antiquated contracting practices. We recognize that this is something that cannot be solved without collaboration and strict compliance. NYSHEX offers all BCOs, NVOCCs and Ocean Carriers an equal and unbiased method for innovating a contract where all players honor their commitments," said .


About the Author

Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [ protected]

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.


Latest Whitepaper
Assessing the Total Cost of Supply Chain Damage
Learn how to assess the total cost of supply chain damage to your business.
Download Today!
From the August 2018 Logistics Management Magazine
The old days of buying a lift truck as a commodity unrelated to other materials handling equipment purchases are going away. Rapidly. It’s all because of fundamental shifts in how distribution centers operate—and new technology, of course.
2018 Ocean Cargo Roundtable: Unsettled seas
2018 ERP Update: Are the mega-suite vendors taking over supply chain management?
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly newsletter!
Latest Webcast
Case Study: How LightBulbs.com Doubled Shipping Throughput During Peak Season Without Adding Staff
Paul McLellan, President of LightBulbs.com, shares how the company's logistics operations created an integrated shipping and dimensioning solution that enables the online superstore to absorb sudden, large spikes in shipping volume–without adding additional staff.
Register Today!
EDITORS' PICKS
35th Annual Quest for Quality Awards: Scaling to new heights of service
Which carriers, third-party logistics providers and U.S. ports have reached the pinnacle of...
29th Annual State of Logistics Report: Carriers take the wheel
As if higher rates and capacity shortages weren’t enough to worry about, shippers must now deal...

Labor Crisis: A proactive approach to filling Logistics Jobs
A tight labor market driven by the uptick in e-commerce, increased omni-channel distribution...
Freight Forwarding: Keeping shippers top of mind
In the current rush to digitize for operational efficiency, forwarders must not lose sight of...
читать дальше mitsubishi.niko.ua

узнать больше

http://progressive.ua