Maersk Line Joins The New York Mercantile Exchange Digital Platform

- Jan 25, 2018-

After CMA CGM and Hepburn, Danish shipping company Maersk Line officially joined the New York Stock Exchange (NYSHEX) digital platform to become its third founding member.


Maersk Line announced a few days ago that it has joined NYSHEX. Previously, CMA CGM and Hebrew joined NYSHEX in August 2017. Meanwhile, MOL Mitsui, Orient Overseas and COSCO Shipping are also carriers of the NYSE. NYSHEX members currently have from 2M, the Alliance of the Oceans and THE Alliance three alliance companies.


Gordon Downes, chief executive of NYSHEX, said Maersk Line has always been at the forefront of digital initiatives. The addition of Maersk Line to NYSHEX will digitize the freight contract process and improve shipping reliability. As other additional operators join, NYSHEX will benefit from more products and services.glenflange


Peter Hildebrandt, Maersk Line's director of revenue management and future NYSHEX member representative, said the company's investment in the New York Stock Exchange is another example of the company's commitment to becoming a key player in the digital transformation of the industry. NYSHEX will help Maersk Line to expand the range of digital products and services to ultimately enhance the customer experience.


Commenting on the importance of addressing overbooking and ro-ro issues in the shipping industry, Omar Shamsie, President of Maersk Line North America, said that it was time to create a more collaborative environment for all players in the shipping industry.glenflange


In March 2018, Maersk Line will start piloting a trans-Pacific export agricultural market (from the United States to Asia).


It is understood that the New York Stock Exchange (NYSHEX) was established in 2015 to provide the global shipping industry with digital shipping capabilities and to provide new standardized digital shipping contracts. It is a platform built for shippers, freight forwarders and carriers in the global maritime transport industry to provide spot market and shipping volatility alternatives. In addition, they also provide shipping derivatives trading, professional shipping insurance agents and shipping finance leasing services. The exchange launched the container freight index derivatives, shipping companies provide container hedging, hedging, price discovery trading platform; in addition to the coal route freight index derivatives and capacity trading products, but also the global shipping digital industry chain One of the most important trading platform. Its supporters hope to expand the market through NYSHEX to other areas and eventually to 15% of container traffic worldwide, saving up to $ 23 billion annually in the shipping industry.