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Robert.Jervis_43227 Aug 15

NYSHEX launches in Europe

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New York Shipping Exchange recruits industry veteran to lead expansion
NYSHEX, now preparing to open up in Europe, is building shipper/forwarder–ocean carrier trust with enforceable contracts

“This is an ideal time to enter the European market to expand the value of NYSHEX 2-way commitment ocean contracts managed and tracked by a neutral party with fair and common standard rules,” said Jeremy Haycock, NYSHEX Managing Director in Europe.

“Ocean contracting with mutual accountability will improve trust between shippers and carriers especially now when the industry faces significant, ongoing challenges and mistrust beyond the control of each and will remove the enormous waste and inability to forecast experienced by all players today for which the end consumer will ultimately pay.

“Violating the terms of an ocean contract has no ramifications today. The lack of predictability from these non-binding contracts is adding insult to injury for shippers that aren’t moving their goods as needed and carriers that may sail with open capacity when cargo doesn’t show-up as booked. The contracts that NYSHEX forms are flexible enough to handle the current disruption in the supply chain, where factors outside the control of either party can prevent performance.
 
“Everybody needs predictability and one way of achieving that is by creating trust on both sides – trust in what both parties have committed to, shippers, forwarders and ocean carriers alike.”
 
To date, shippers and ocean carriers using NYSHEX have benefited from 99% fulfillment of contracts, 100% invoice accuracy, and 100% exception resolution.
 
NYSHEX enables shippers and carriers to digitally contract vessel space, container equipment and fixed freight rates from one week to twelve months and beyond. NYSHEX technology then tracks each shipment to ensure the contract terms are fulfilled.
 
NYSHEX’s ocean carrier members include: CMA CGM, Maersk, ONE, Hapag-Lloyd, HMM and COSCO
 
“I’m excited to join a company that really can make a difference and primarily can address a big need in the market. One that hasn’t been addressed in Europe in the past to a sufficient extent, if at all. We expect to have new shipper/forwarder members signed up within the 3rd quarter of this year. I have been blown away by the level of interest already,” remarked Jeremy.

Haycock is an industry veteran – having worked for Maersk and Damco in various executive roles. His most recent posting was as Managing Director for Maersk UK