News / NYSHEX raises new funds to progress harmony between shippers and carriers

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The New York Shipping Exchange (NYSHEX) has set its sights on providing more technology to shippers, with an initial focus on retailers, after raising $13.5m in new capital.

Investment fund NewRoad Capital led the funding round and has joined the list of NYSHEX shareholders.

NYSHEX provides the liner industry with a “simplified and standardised over-the-counter exchange for entering enforceable freight contracts”, which shippers and NVOCCs can use free after receiving accreditation – ocean carriers must pay a $5 per teu transaction fee.

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