NYSHEX touts 99.6% fulfillment rate for ocean contracts

By Elizabeth Landrum

Gordon Downes, CEO of New York Shipping Exchange (NYSHEX), went on CNBC on Tuesday to share the ocean shipping contract fulfillment success rate his company’s platform offers over the traditional spot rate market.

NYSHEX offers a digital exchange on which shippers and carriers can book capacity contracts and mutually enforce those contracts to provide a higher fulfillment rate.