“We are honored to have backing from such strategic investors as we work collaboratively to solve a major challenge facing the global container shipping industry,” says NYSHEX CEO Gordon Downes.
“As a leading global capital markets participant and active investor in the exchange space, we are pleased to partner with NYSHEX and support their efforts to innovate in the freight market,” said Rana Yared, Managing Director in Goldman Sachs’ Principal Strategic Investments group.
As the world’s leading digital industrial company, GE is already very familiar with the global container shipping industry, being both a major customer and supplier. According to Mark Chadwick, Executive Sourcing lead at GE, “We are excited to be working with NYSHEX, and expect the exchange will create opportunity for shippers to improve supply chain planning and reliability. Carriers will improve vessel utilization and network planning which will deliver efficiencies desperately needed in today’s challenging market environment.”
Blumberg Capital brings more than 25 years experience building high growth companies in financial services and enterprise technology. “NYSHEX is the unique combination of a veteran team, innovative technology and precise market timing,” said Matt Bornstein, principal, Blumberg Capital. “We believe NYSHEX will create new ways of doing business and generate massive value for the $380 billion container shipping market.”
David Wolfson, a founding partner at Tectonic Capital adds, “One of the team’s strengths is their deeply held belief in working collaboratively with carriers, shippers and forwarders. The point here is counter to the traditional tech “disruptor”, rather NYSHEX was created by shipping people who are trying to do something good for their industry. NYSHEX will bring updated technology and digital to an industry that desperately needs stability – in these cases it’s better to be collaborative than disruptive.”
“Five of the top ten global ocean carriers are actively engaged on NYSHEX; and leading shippers and forwarders are joining daily. By mid-year we will be fully operational within the Transpacific trade and by end of year we intend to be working collaboratively with our members to expand into the Asia-Europe trade,” says Downes.