NEW YORK--(BUSINESS WIRE)--NYSHEX, the leader in two-way committed contracts, today announced revenue growth of 340 percent in 2021. In addition, shipping volumes more than tripled and the company grew its global footprint with the opening of a London office and has plans to open in Singapore early this year.
The pandemic has exacerbated supply chain disruptions and global ocean shipping reliability recently fell to a historic low. As a result, organizations need to improve reliability and control costs. NYSHEX’s contract framework and technology solutions remove the uncertainty of traditional shipping contracts so both shippers and carriers benefit from cargo moving as planned through two-way committed contracts.
“With supply chain disruption a constant, carriers and shippers are looking for innovative solutions to make their supply chains more resilient," said Gordon Downes, CEO of NYSHEX. "With a 98 percent contract fulfillment rate, our solutions deliver much-needed predictability. NYSHEX’s mission is to transform shipping by making trust and reliability the cornerstones of the industry."
Part of NYSHEX’s path to growth has been its gross volume retention rate of greater than 90 percent. Additionally, NYSHEX grew its shipper base from ~60 in 2020 to 170+ in 2021 and expects to more than triple that number again in 2022.
“With NYSHEX, we can rest easy knowing that there is space for every booking that we place at a fixed rate,” said Julius Tan, Director of Logistics, CarParts.com. “The predictability is great for our team and our customers, and the multi-year contract means that we can expect reliability in our supply chain for the next few years.”
NYSHEX is on track to grow its team from 80 to 200 in 2022 as it expands into new markets. The company will expand its offerings to include Asia to Europe, Asia to Latin America and Transatlantic extending its current footprint, which covers the Transpacific Eastbound, Transpacific Westbound, and US to Latin America southbound shipping lanes.
About NYSHEX
Founded in 2014, NYSHEX’s two-way committed contracts and neutral exchange provide shippers and carriers with a predictable, efficient, and accountable system for global commerce. The company’s technology keeps supply chains moving and strengthens relationships. Customers include seven of the leading global ocean carriers and over 190 shippers. The company’s headquarters are in NYC, with 100 employees across the globe. Learn more at NYSHEX and connect on LinkedIn.
