Maersk Line Joins New York Shipping Exchange

Image Courtesy: Maersk Line

Danish container shipping giant Maersk Line has followed in the footsteps of its counterparts CMA CGM and Hapag-Lloyd and joined the New York Shipping Exchange (NYSHEX) as its third founding member.

NYSHEX is a digital platform founded in 2015 with the aim of providing the global shipping industry with the ability to trade freight digitally, and offering the industry a new standardized digital freight contract.

The French and German liners joined the digital platform back in August 2017. Top global carriers MOL, OOCL, and COSCO are also carrier members of the exchange, representing more than half of global capacity.

“We are very pleased to have Maersk Line join NYSHEX as a founding member. Maersk Line has been a pioneer of many digital initiatives, and we are delighted to be working together in digitizing the freight contracting process, as well as improving shipment reliability. With each additional carrier that joins the exchange, our members benefit from more offerings and services to choose from,” Gordon Downes, CEO of NYSHEX, said.

 The member carriers on NYSHEX now represent all three major alliances: 2M, Ocean Alliance and THE Alliance.

“Our investment in NYSHEX is another example of our commitment to be a key player in the industry’s digital transformation. This platform will help us expand the range of digital products and services to ultimately enhance the customer experience,” Peter Hildebrandt, Head of Revenue Management for Maersk Line and future industry representative on the NYSHEX Member Council, commented.

Speaking on the importance of addressing the issues of over-bookings and rollings in the shipping industry, Omar Shamsie, President of Maersk Line North America added that the time has come to create a more collaborative environment for all participants in the ocean transportation industry.

Maersk Line will begin piloting in its transpacific export agriculture market (exports from U.S. to Asia), as of March 2018.

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