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Case Study

Lansing Trade Group

How one top US exporter went from being unconvinced about NYSHEX to calling it a “game changer.”

The Challenge

Lansing Trade Group was a reluctant convert to NYSHEX. They’re traders after all. As one of the nation’s premier, independently-owned physical trading companies, Lansing is laser focused on two things: minimizing risk and taking advantage of market opportunities. Not surprisingly, they tend to look at their supply chain—and especially their ocean transport—through the eyes of a trader. They see the risks that come from a lack of equipment availability and their containers being rolled. They also recognize the huge untapped opportunities that exist to leverage market volatility. Until NYSHEX, they just couldn’t see the way.

The NYSHEX Solution

Once the NYSHEX bug had bitten Lansing, there was no going back.  In fact, after several months on the exchange, they’ve become one of our leading members pushing the boundaries of this new tool in finding ways to leverage market volatility and its opportunities. NYSHEX has become one of the main means by which Lansing can compare current “market” ocean freight and keep a pulse on what the current freight levels are or what they might be in future trading months.

In addition, NYSHEX’s binding request tool, which gives them the opportunity to request rates, is in their words “a game changer” that enables them to negotiate bullet rates either to help them out in a pinch or to work with carriers to match up freight with their needs.

Providing opportunities is only part of the story though. NYSHEX also enables Lansing to reduce their risk through enforceable contracts. Locking in freight with the security of knowing there will be equipment and a confirmed sail date is a tremendous value to Lansing.

Lansing's Results

With equipment and sailing date set, Lansing can focus on straightening out the next kink in their supply chain. Similarly, with the NYSHEX Forward contract’s all-in rates, Lansing has experienced a welcomed improvement in freight processing. The resulting 100% invoice accuracy saves significant time and spares the company from the dreaded task of freight mitigation. These developments and NYSHEX’s incomparable forward view of the market have inspired Lansing to expand its use of NYSHEX as an opportunistic platform. They regularly use it to check the market, commit to short-term opportunities that present themselves and buy up space when they have good volumes to move to a specific destination. NYSHEX has become a proven complement to Lansing’s long-term service contracts, and one that they look forward to expanding upon.

NYSHEX
“I was incredibly reluctant to get on board with NYSHEX, but when I started looking at NYSHEX as a tool to complement to my existing strategies and not as a replacement I found real solutions for our supply chain.”
April Zobel
Logistics and Export Manager

Takeaways

Top Benefits Realized

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Unprecedented forward view of ocean freight prices.

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Enforceable contracts lock-in equipment and vessel space.

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Ability to make binding offers with global carriers.

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