The New York Shipping Exchange (NYSHEX) recently announced that the Korean-based Hyundai Merchant Marine (HMM), the world’s 14th largest container line in terms of vessel capacity is the latest carrier member to join the exchange.
NYSHEX is the innovator of the first reliable digital forward freight contract for the global container shipping industry.
By joining the NYSHEX, HMM is now in company with a group of innovative carriers, including COSCO Shipping, CMA CGM, Hapag Lloyd, Maersk Line and OOCL, all of which have aligned focus on digital contracting and fully enforceable ocean freight contracts.
NYSHEX CEO, Gordon Downes said, “We are thrilled to welcome HMM as a carrier member of the exchange who joins our other carriers in bringing a virtuous cycle of reliable bookings and services to global shippers. As an innovator in reliability and technology, HMM provides our shipper members with additional service options at an ideal time as new routings and new trade lanes are being added daily. Global shippers of all types are welcoming the value of NYSHEX’s free membership and unlocking the benefits of reliable digital contracting via the exchange’s easy-to-use digital framework.”
All three major container shipping alliances: H+2M, Ocean Alliance and THE Alliance are all represented within NYSHEX ocean carrier members.
Hyundai Merchant Marine Senior Vice President of Trades and Sales, Lawrence Burns said, “We are committed to delivering reliability, differentiation and options to our customers. HMM is focused on digital solutions that allow our customers to work online similar to how they live their daily lives. NYSHEX has created an easy to use healthy industry solution that significantly reduces inefficiencies, contracting complexity with a fixed all-in rate and delivers unmatched reliability for our customers’ global shipments. NYSHEX can be a powerful and meaningful outlet to access mutually committed service with our customers.”