THE New York Shipping Exchange (NYSHEX) is releasing its ocean contracting digital container platform in Europe after gaining traction in the US market, reports London's Loadstar.
Europe managing director Jeremy Haycock declared that one of the key elements for the NYSHEX platform is its ability to restore trust between the shipping lines and their customers
'They're trying to reinvent themselves and come up with new strategies to deal with the challenges of congestion and lack of capacity; a great example is the noticeable shift in strategy from just-in-time to just-in-case,' said Mr Haycock.
'In some cases, shippers try to secure more space from carriers than needed just to have some buffer in their supply chain. This in turn has led to carriers suffering from downfalls and their inability to forecast effectively. We have even seen vessels leaving Asia with empty capacity because they had simply been expecting cargo that didn't arrive,' said Mr Haycock.
Mr Haycock stated the traditional contract between carrier and shipper was 'totally broken' and was the source of 'a lot of waste' in the industry.
'There's a big need right now for more trust between parties. This is not a one-sided product that only benefits one side of the equation, it benefits all parties involved through efficiencies, reliability, and waste management,' said Mr Haycock.
'Everybody needs predictability, and one way of achieving that is by creating trust on both sides of the equation - trust in what both parties have committed to, shippers, forwarders, and carriers alike,' said Mr Haycock.
Shippers are able to contract via the NYSHEX platform at no cost, whereas carriers pay a transaction fee of US$5 per TEU.
SeaNews Turkey
Europe managing director Jeremy Haycock declared that one of the key elements for the NYSHEX platform is its ability to restore trust between the shipping lines and their customers
'They're trying to reinvent themselves and come up with new strategies to deal with the challenges of congestion and lack of capacity; a great example is the noticeable shift in strategy from just-in-time to just-in-case,' said Mr Haycock.
'In some cases, shippers try to secure more space from carriers than needed just to have some buffer in their supply chain. This in turn has led to carriers suffering from downfalls and their inability to forecast effectively. We have even seen vessels leaving Asia with empty capacity because they had simply been expecting cargo that didn't arrive,' said Mr Haycock.
Mr Haycock stated the traditional contract between carrier and shipper was 'totally broken' and was the source of 'a lot of waste' in the industry.
'There's a big need right now for more trust between parties. This is not a one-sided product that only benefits one side of the equation, it benefits all parties involved through efficiencies, reliability, and waste management,' said Mr Haycock.
'Everybody needs predictability, and one way of achieving that is by creating trust on both sides of the equation - trust in what both parties have committed to, shippers, forwarders, and carriers alike,' said Mr Haycock.
Shippers are able to contract via the NYSHEX platform at no cost, whereas carriers pay a transaction fee of US$5 per TEU.
SeaNews Turkey
