NY Shipping Exchange to launch container indices in 2025

The New York Shipping Exchange (NYSHEX) has secured investment from Intercontinental Exchange (ICE) and plans to launch its own container freight indices in 2024. These indices, calculated by ICE, will be based on actual cargo rates and freely available for use by carriers, shippers, and NVOCCs for index-linked contracts. Gordon Downes, NYSHEX CEO, highlighted the initiative’s aim to enhance pricing transparency in the volatile container shipping market.

ICE COO Stuart Williams emphasized the importance of providing risk management tools to address supply chain inefficiencies and geopolitical risks. Founded in 2015, NYSHEX digitalizes contract terms and integrates real-time data on bookings, container milestones, and schedules. The new indices will join an already crowded field, which includes offerings from Drewry, Freightos, Xeneta, and the Shanghai Shipping Exchange.
Source: Chamber of Shipping