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NEW YORK, NY: November 15, 2018. The New York Shipping Exchange (NYSHEX) reports a 420 percent rise in trans-Pacific eastbound and westbound container trade volumes between June and October this year.

"This trans-Pacific peak season we saw, and continue to see shippers of all sizes struggling to obtain vessel space,” commented NYSHEX vice president of Sales & Marketing Kim Cockrell. “We have seen some of the largest [US] retailers acknowledging their need for contingency plans, joining NYSHEX.

Hapag Lloyd banner“Introducing a new industry standard - cargo moving on a vessel as booked 98 percent of the time - is a huge step forward for ocean shipping and we are thrilled to be seeing significant recognition for its value," she added.

Matthew Koivisto, NYSHEX member and Damco’s Head of Ocean Product for the East Area, said that two years ago all the company could do was make an FAK booking at a high rate and hope for the best – and half the time the booking could get rolled during peak periods. “Now we have a more secure way of offering a booking that we know is going to sail and many of our customers are pleased to have this secure option for their supply chains."

Cockrell says a 38 percent increase in NYSHEX membership since June is a sign shippers are trying to protect their volumes from the volatility of impending U.S.-China tariff rises from January 01 next year; fluctuating ocean carrier capacity; pre-Chinese New Year demand; and the new IMO Sulphur regulation and its associated surcharge by 2020.

“With 14 percent fuel cost increases having been unrecovered by carriers, combined with IMO Sulphur regulation coming into play in 2020, you can count on rate volatility and, potentially, fewer service options due to capacity withdrawals this upcoming contract season,” she declared.

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