NYSHEX broke down why governance is the most underrated feature of a freight index.
Published
Signal category
Research & Knowledge
Quote
“We broke down why governance is the most underrated feature of a freight index.”
— NYSHEX team
Company
NYSHEX
The digital infrastructure for global shipping.
- Industry
- Software Development
- Location
- New York, US
- Company size
- 81 employees
The New York Shipping Exchange (NYSHEX) was founded in 2015 to solve the problem of poor contract fulfillment caused by misaligned incentives and disconnected execution. This results in $23 billion of economic waste that impacts all shippers, carriers and NVOCCs. NYSHEX offers shared digital infrastructure that helps to align incentives, connect execution, strengthen relationships, and reduce manual work. NYSHEX’s Proactive Performance Management (PPM) technology helps users to jointly manage allocations and plans, and to be alerted in real time when any shipment goes off plan. The NYSHEX indices make it easier for everyone to use contracts linked to an index, which removes a carrier’s incentive to curtail allocations when spot rates rise above contract rates, and a shipper’s incentive to shift volumes when spot rates drop below contract rates.
Founded 2014