NYSHEX raises US$8.7 million to expand NYFI freight index

New York Shipping Exchange (NYSHEX) has raised US$8.7 million in Series D funding to expand its NYSHEX Freight Index (NYFI) and strengthen its container shipping risk management services.

The financing round was led by NewRoad Capital Partners and Intercontinental Exchange (ICE), with participation from existing investors.

As part of the investment, Stuart Williams, Chief Operating Officer of ICE, will join the NYSHEX Board of Directors.

The funding will support the expansion of NYFI into additional markets. NYSHEX also plans to develop more detailed freight benchmarks and improve analytics linked to exchange-traded freight futures.

NYFI expansion targets freight market transparency

According to the official NYSHEX announcement, the company will focus on broader geographic coverage and greater detail in its container freight indices.

Launched in April 2025, NYFI uses freight rates from shipments that have actually moved rather than relying on quoted or booked rates.

This approach provides market participants with benchmarks based on completed shipping transactions.

ICE administers the index and has listed four futures contracts linked to NYFI during 2026. These contracts cover major container shipping routes connecting Asia with the United States and Europe.

The contracts allow market participants to manage exposure to changes in freight rates. Shippers can use these instruments to address rising transportation costs, while carriers and freight forwarders can manage risks associated with market fluctuations.

The NYFI has also been available through Container News since July 2026, providing readers with access to transaction-based container freight benchmarks.

NYSHEX plans to use the new funding to expand the index’s coverage and develop additional analytical capabilities around the listed contracts.

ICE strengthens investment and board representation

The Series D round deepens the relationship between NYSHEX and ICE, which previously participated in the company’s Series C financing in 2024.

In addition to its investment, ICE will gain representation on the NYSHEX board through Stuart Williams.

Gordon Downes, CEO and co-founder of NYSHEX, said the financing would support the development of tools that help the shipping industry manage freight rate volatility.

“Our investors are backing that direction, and this funding goes into building it out,” said Downes.

Williams highlighted the importance of using actual shipping transactions as the basis for freight benchmarks.

He also noted that NYFI-linked futures complement ICE’s existing tanker freight and bunker fuel markets.

Beyond the index itself, NYSHEX will continue developing software for shippers, carriers and freight forwarders. These products support shipment planning, contract execution and the management of supply chain risks.

The company currently serves more than 200 shippers, shipping lines and freight forwarders worldwide.

NYSHEX has not announced a timetable for the additional geographic indices or new analytical features planned under the funding programme.

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