Maersk Line says it has made an investment in US-based freight booking start-up New York Shipping Exchange (NYSHEX). In addition, it plans to offer container space through the company's service.
NYSHEX received $8.5m in seed financing from last March. NYSHEX did not disclose the size of Maersk's investment, just that it is now a "founding member."
Maersk joins Hapag Lloyd, CMA CGM, MOL, OOCL, and COSCO as carrier members, the exchange said.
“We are very pleased to have Maersk Line join NYSHEX as a founding member," said NYSHEX chief executive Gordon Downes. "Maersk Line has been a pioneer of many digital initiatives, and we are delighted to be working together in digitizing the freight contracting process, as well as improving shipment reliability."
Maersk will also offer freight to customers through the NYSHEX platform. Maersk will pilot an agriculture export service from the US to Asia beginning this March.
NYSHEX says 3,280-teu in volume has traded on its platform since its August 2017 launch.
Maersk's head of a revenue management Peter Hildebrandt says the investment in NYSHEX "will help us expand the range of digital products and services to ultimately enhance the customer experience."
