Business, Freight News, Sea

FMC Ruling on NYSHEX Governance Opens New Realm for Container Shipping Industry Collaboration

[ February 26, 2018   //   ]

The New York Shipping Exchange (NYSHEX), the container shipping industry’s solution for digital and enforceable freight contracting, announced the appointment of new members to its board of directors and launch of the governing NYSHEX Member Council.

The announcement follows the Federal Maritime Commission’s (FMC) Dec. 2, 2017 approval of the NYSHEX governance model. NYSHEX now ushers in a fair, transparent and compliant process to ensure the interests of members are incorporated into the operation of the exchange.

The NYSHEX governance model added four industry representatives to the NYSHEX board of directors, two will be filled by shipper members (BCOs or NVOCCs) and two will be carrier members. The governance model also establishes the NYSHEX member council consisting of three BCOs, three NVOCCs, and three Carrier representatives.

“As we continue to grow the exchange, our governance model ensures that our members, actively participate in the oversight and governance of the exchange. We are excited to have these industry innovators and leaders help NYSHEX to establish fair and transparent standards for digital freight contracting, and to build enabling technology that everyone in the industry can benefit from.” said Gordon Downes, NYSHEX CEO.

The NYSHEX board consists of nine directors who are overall responsible for the oversight of the exchange. The four industry representatives who join the NYSHEX board of directors are:

  • Bjorn Jensen, VP Global Logistics for Electrolux
  • Jochen Gutschmidt, Head of Global Logistics Procurement at Nestl√©
  • Nick Fafoutis, SVP of Sales and CCO of CMA CGM America
  • Donald Davis, SVP of Sales and Customer Service for Hapag-Lloyd in North America

The NYSHEX board is supported by the NYSHEX member council whose role is to propose recommendations or changes to NYSHEX operations, processes, and technology. The industry representatives who will join the NYSHEX member council are:

  • Mark Chadwick, Executive Sourcing Leader, GE
  • Glenn Berger, VP Global Transportation, Restoration Hardware
  • April Zobel, Export Traffic Manager, Lansing Trade Group
  • David Newton, CCO, Damco USA
  • Nerijus Poskus, VP Global Head of Ocean Freight, Flexport
  • Arnold Lee, CEO of Hecny Group
  • Peter Hildebrandt, VP Revenue Management and Optimization, Maersk Line
  • Howard Finkel, EVP, COSCO Container Lines

To ensure the industry and exchange members are impartially represented the industry board members and the member council representatives will rotate on a yearly basis.

NYSHEX provides the global shipping industry with a simplified and standardized digital freight contract. NYSHEX is compliant with all U.S. regulations as well as the FMC’s contract filing requirements. Buyers of container shipping services: shippers and NVOCCs, use NYSHEX at no cost. Initially, they must be pre-accredited with NYSHEX to get started. Ocean carriers pay a transaction fee of $5/TEU.