Steve Ferreira and Gordon Trouncer Downes walk through the ins and outs of NYSHEX
The New York Shipping Exchange (NYSHEX) is a solution developed for the ocean freight industry by its stakeholders. It’s a resource to gain an understanding of the current market space and to give companies reliable access to digital contracting.
In this episode of Navigate B2B, host Steve Ferreira, the founder and CEO of Ocean Audit, brings on the CEO of NYSHEX, Gordon Trouncer Downes, to discuss how it helps navigate the “antiquated” world of ocean freight contracting.
Downes says NYSHEX solves contracting problems by:
- Collaborating among leading stakeholders in the maritime industry.
- Keeping terms of contracts made between carriers and shippers clear.
- Providing the technology for both parties to know if they are on track with contract agreements.
- Getting involved with managing exceptions in contracts when things go wrong.
Following 374% year-on-year growth, NYSHEX recently raised $13.5 million in additional financing to expand its offerings to shippers, according to Ferreira. With this latest funding, NYSHEX has raised approximately $30 million.
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