Today’s world is a downward spiral for carriers with freight rates becoming more and more volatile and shipment downfalls reaching 24-30% on TP Eastbound sailings and 60% on TP Westbound sailings. This strains carriers who end up bearing the full cost of booking downfalls and have been made responsible for shippers’ and forwarders’ shipment risks.
Downfalls and volatility cost the industry more than $23B a year—but reversing these trends presents the industry with tremendous economic potential.
In today’s digital world, many of your customers are calling for digital contracting. NYSHEX allows you to give your customers
a digital contracting option that is secure, fully compliant and intuitive.
Now carriers can offer secure forward contracts through the New York Shipping Exchange. The NYSHEX Forward, traded exclusively on NYSHEX, discourages downfalls by charging shippers a penalty for failing to fulfill the details of contracts.
The NYSHEX Forward features fixed rates that enable you to better manage your revenue. Fixed rates also save you the time and resources required to requote spot rates that are continuously changing.
Currently, carriers are required to base major investments on network plans, service contracts and forecasts that are highly unreliable. By providing space protection, The NYSHEX Forward supports your reliable cargo flows. That assists you in your planning and uptake management.
Freight payments are made immediately by NYSHEX—so you no longer have to wait for shippers to pay you, improving working capital and avoiding bad debt.