[161219.EN.SEA] ONE Goes Digital Making Ocean Freight Slots Available On NYSHEX

OCEAN Network Express (ONE) announced that it will start offering container slots on a digital exchange in a move to "further enhance customer experience".

The joint venture of Japan's three largest shipping companies, ONE, said in a statement that it will tap the New York Shipping Exchange (NYSHEX) to offer trans-Pacific eastbound container space. It said that January sailing slots would be available on the platform from mid-December onward.

NYSHEX's platform offers shippers a guaranteed space and rate for booking ocean freight with steamship lines. The mutually enforceable contract requires that the liner operator not roll the cargo to another sailing and the shipper actually have the cargo at the dock in time for the sailing.

Senior vice president at ONE, Sundeep Sibal, said: "Having our customer's commitment to show up with their cargo as contracted allows us to optimise our network and more accurately plan our vessels, which in turn provides cost-effective and reliable services."

ONE did not say how much space it will be offering on the platform. NYSHEX said that ONE's offers on the platform would be dynamic, meaning they can adjust the price and the allocation in real time, reports American Shipper.

ONE has 14 services running between China and the US on the trans-Pacific lane. Through October, ONE had average monthly container liftings of 230,000 TEU on its trans-Pacific eastbound services, with utilisation averaging 90 per cent.

"We are thrilled to welcome ONE as a carrier member of the exchange," said Gordon Downes, chief executive of NYSHEX. "The ONE approach to container shipping today is refreshing and relevant. We look forward to the continued collaboration and innovation."

Since its August 2017 launch, NYSHEX's platform has handled over 75,000 TEU in bookings. It said it would enhance its platform in 2020 to support more customizable terms for carriers and shippers, including multiple origins and destinations and longer valid dates for a contract.

Source : HKSG.