Spot contracts are a fact of life in shipping ocean cargo. These days, not all cargo can be planned far in advance and much cargo is not covered by carrier service contracts. As a result, 84% of shippers use the spot market.
Shippers face volatile freight rates on the spot market with significant price changes every week. In addition, costs are unpredictable with unexpected charges and rate hikes being a common occurrence.
With spot contracts, carriers provide no space protection to shippers, so services are unreliable and rollings and blanked sailings are routine events.
Now shippers can enter into forward contracts offered by carriers that are secured through the New York Shipping Exchange. The NYSHEX Forward, traded exclusively on the exchange, provides benefits that neither spot contracts nor long-term service contracts offer.
On NYSHEX, shippers can receive carrier rate offers immediately and enter into contracts digitally.
All rates offered on NYSHEX are fixed and not subject to GRIs, PSSs, or new surcharges.
That means no unexpected charges—or invoice disputes.
Your cargo will be loaded within a specified departure window. It’s guaranteed—and carriers pay you a penalty for delays or rolling.