Today I’m joined by NYSHEX, a leading shipping technology company that is creating reliable ocean shipping through effective digital contracts.
NYSHEX was built to restore trust and reliability in global trade. As the leader in two-way committed contracts, their neutral exchange unites shippers and carriers with a predictable, efficient, and accountable system for global commerce.
Today Gordon Downes, co-founder and CEO at NYSHEX, joins me to chat all about the company: what they do; the current challenges faced by the shipping industry; the importance of collaborative relationships; and how improving supply chain reliability will revolutionize the industry.
[06.22] Gordon’s journey, from working across the world for Maersk to co-founding NYSHEX, and what he learned along the way.
“I started to question – ‘why is the ship full, why do we have to roll these customers?’ And you start to realize, quite quickly, that in our industry - even though contracts get signed and agreements are made - the practice is not to take them as seriously.”
[12.08] A closer look at the landscape of the shipping industry, how it’s changed since NYSHEX was founded, and the current challenges.
“People were telling me ‘this will never work – people are too stuck in their ways! It’s such an old, legacy industry’… but through the pandemic, and even prior, the mindset of the industry was starting to change.”
[16.42] An overview of NYSHEX – what they do, and how they help their customers – and exactly how NYSHEX benefits ocean shippers.
“The average contract fulfilment rate – and this is data from pre-pandemic, it’s got worse during the pandemic – is about 65%. We’re seeing fulfilment rates through our application of around 98%.”
[23.45] The impact of NYSHEX’s benefits on shippers, and on the industry.
[27.11] A look at the integration and onboarding process for shippers.
[31.18] How NYSHEX works for carriers and the benefits the product brings.
[38.19] The ideal client for NYSHEX.
“Collaboration and trust is paramount… so, for us, it’s the shippers and carriers who really have the intention to make good on the terms of their agreements with their customers, because not everyone is like that.”
[41.12] A case study, showing how NYSHEX helped one key customer ‘save Halloween.’
[44.56] The future for NYSHEX, and for the ocean shipping and industry at-large.
“Coming out of the pandemic, as bumpy and disruptive as it’s been, it’s going to result in a much more robust, more resilient shipping and logistics industry, coupled with the supply chain that runs on top.”
Head over to NYSHEX’s website now to find out more and discover how they could help you too. You can also connect with NYSHEX and keep up to date with the latest over on LinkedIn, Twitter, Facebook or Instagram, or you can connect with Gordon on LinkedIn.
If you enjoyed this episode, why not listen to 185: Chart a Course for Shipping Success, featuring Alison Cusack of Cusack and Co, or check out our live show, No Bullshipping with Hope White.
Check out our other podcasts HERE.