276: Say Goodbye To Unreliable Ocean Shipping, with NYSHEX
Today I\u2019m 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.
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IN THIS EPISODE WE DISCUSS OCEAN SHIPPING AND:\xa0
[06.22] Gordon\u2019s journey, from working across the world for Maersk to co-founding NYSHEX, and what he learned along the way.
\u201cI started to question \u2013 \u2018why is the ship full, why do we have to roll these customers?\u2019 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.\u201d
[12.08] A closer look at the landscape of the shipping industry, how it\u2019s changed since NYSHEX was founded, and the current challenges.
\u201cPeople were telling me \u2018this will never work \u2013 people are too stuck in their ways! It\u2019s such an old, legacy industry\u2019\u2026 but through the pandemic, and even prior, the mindset of the industry was starting to change.\u201d
[16.42] An overview of NYSHEX \u2013 what they do, and how they help their customers \u2013 and exactly how NYSHEX benefits ocean shippers.
\u201cThe average contract fulfilment rate \u2013 and this is data from pre-pandemic, it\u2019s got worse during the pandemic \u2013 is about 65%. We\u2019re seeing fulfilment rates through our application of around 98%.\u201d
[23.45] The impact of NYSHEX\u2019s 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.
\u201cCollaboration and trust is paramount\u2026 so, for us, it\u2019s 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.\u201d
[41.12] A case study, showing how NYSHEX helped one key customer \u2018save Halloween.\u2019
[44.56] The future for NYSHEX, and for the ocean shipping and industry at-large.
Want to watch this on YouTube? \U0001f440\xa0Click here!\u201cComing out of the pandemic, as bumpy and disruptive as it\u2019s been, it\u2019s going to result in a much more robust, more resilient shipping and logistics industry, coupled with the supply chain that runs on top.\u201d
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RESOURCES AND LINKS MENTIONED:\xa0
Head over to NYSHEX\u2019s 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.