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February 6, 2019

NYSHEX Announces Changes to its Board of Directors

New appointments to the NYSHEX Board of Directors.

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NEW YORK, NEW YORK - February 6, 2019 - The New York Shipping Exchange (NYSHEX), today announces new appointments to their Board of Directors:

• Peter Hildebrandt, VP and Senior Transformation Partner, Maersk - representing carriers
• April Zobel, Logistics and Export Manager, The Andersons - representing shippers
• Philip London, Ph.D., Technology Management Consultant and Advisor
• Jesper Praestensgaard, Managing Partner, Humanostics, will serve as Chairman of the Board

The following directors will remain on the Board of Directors:

• Rana Yared, Partner, Goldman Sachs
• Jochen Gutschmidt, Global Freight Lead, Nestlé - representing shippers
• Nick Fafoutis, CCO, CMA-CGM America - representing carriers
• Gordon Downes, CEO, NYSHEX
• Mark Michaels, co-founder, NYSHEX

The Board of Directors includes two shipper and two carrier representatives to ensure NYSHEX is focused on meeting the needs of its members and to provide a governance structure that is fair, transparent and compliant.

"In the two years which we've been utilizing NYSHEX we have found tremendous value and real solutions for our supply chain. NYSHEX has become a regular part of our procurement strategy as it is a way to guarantee that we'll have equipment and space to serve our customers. I was excited to serve on the initial NYSHEX Member Council, contributing to organization direction and now I'm thrilled to become even more involved by joining the Board of Directors. Shippers and carriers have been trying for years to enforce their agreements, and NYSHEX has proven to be that neutral protector of carrier-shipper relationships," remarked April Zobel, Logistics and Export Manager, The Andersons.

"New technologies are important to Maersk as we continue to innovate. What we like most about NYSHEX is their technology clearly benefits both shippers and carriers, and their governance structure ensures they stay focused on providing great technology and service to their shipper and carrier members. I'm delighted to expand our partnership with NYSHEX by joining their board of directors, and I look forward to working with the other directors and the NYSHEX management team," said, Peter Hildebrandt, V.P. of Transformation at Maersk.

Jesper Praestensgaard, Chairman of the Board, said, "It has been a pleasure to have been involved in the development of NYSHEX since the beginning, and I look forward to stepping into the role of Chairman of the Board. Over the past couple of years, we have proven that it takes a robust framework and governance process to address the challenge of unreliability in container shipping. Shippers and carriers cannot solve these challenges alone, so a neutral third party like NYSHEX is needed. I look forward to working with NYSHEX, shippers and carriers to continue to make it happen. A successful NYSHEX will have a positive impact on both shippers and carriers."

"It has been immensely fun and gratifying being part of the NYSHEX journey more or less since day one and experiencing how a wonderful idea and concept has taken shape and become a reality. The past four years have been challenging but that only makes it even more exciting that NYSHEX now has overcome most of these and has seen tremendous growth and demonstrated to the market the value they can bring for all parties. The journey now moves into the next exciting phase and I am delighted to hand over the Chairman's reins to Jesper Præstensgaard and wish him, NYSHEX, every exporter, importer and Steamship Line all the best as this conundrum is finally resolved thanks to NYSHEX," said, Jeremy Haycock, former NYSHEX Chairman.

About The New York Shipping Exchange (NYSHEX)

Founded in 2015, The New York Shipping Exchange (NYSHEX) is supporting the transformation of container shipping by solving inefficiencies associated with booking downfalls and shipment rollings. NYSHEX enables shippers and carriers to digitally contract vessel space, container equipment and fixed freight rates from one week up to six months in the future. NYSHEX technology then tracks each shipment to ensure the contract terms are fulfilled.

NYSHEX complies with the U.S. Federal Maritime Commission's freight contract filing requirements. Shippers, including beneficial cargo owners (BCOs) and non-vessel operating common carriers (NVOCCs), are able to contract using NYSHEX's technology at no cost. Carriers pay a transaction fee of $5/TEU.

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