Blockchain Shipping Platform TradeLens Adds Major Ocean Carriers CMA CGM And MSC

Blockchain, News | May 29, 2019 By:

Denmark-based shipping giant Maersk has announced that addition of global container carriers CMA CGM and Mediterranean Shipping Company (MSC) to the TradeLens blockchain shipping platform.

TradeLens is a global trade platform built on IBM blockchain that is designed to reduce the cost of global shipping, improve visibility across supply chains and eliminate inefficiencies stemming from paper-based processes. It currently has more than 100 participants and is already processing over ten million discrete shipping events and thousands of documents each week, providing shippers, carriers, freight forwarders, customs officials, port authorities, inland transportation providers, and others a common view of transactions.

Maersk said that the addition of CMA CGM and MSC will provide a significant boost to TradeLens’ vision of greater trust, transparency, and collaboration across supply chains to help promote global trade. In addition to promoting TradeLens, CMA CGM and MSC will also create complementary services on top of the platform for their customers and partners.

“CMA CGM and MSC will operate a blockchain node, participate in consensus to validate transactions, host data, and assume the critical role of acting as Trust Anchors, or validators, for the network,” Maersk said. “CMA CGM and MSC will be on the TradeLens Advisory Board which will include members across the supply chain to advise on standards for neutrality and openness.”

André Simha, Chief Digital & Information Officer of MSC, said that digital collaboration is a key to the evolution of the container shipping industry.

“The TradeLens platform has enormous potential to spur the industry to digitize the supply chain and build collaboration around common standards,” Simha said.”We think that the TradeLens Advisory Board, as well as standards bodies such as the Digital Container Shipping Association, will help accelerate that effort.”

Vincent Clerc, Chief Commercial Officer of A.P. Moller – Maersk, said that while carrier participation is critical, it is important to note that the TradeLens platform relies on participation from across the entire supply chain ecosystem.

“Increasing ease of doing business for our customers and providing visibility across the container journey is at the center of the Maersk strategy,” Clerc said. “And TradeLens is all about that in its aim to transform the supply chain industry and provide value to all players, from freight forwarders, to ports and terminal operators and inland transportation providers, to customs and other governmental agencies, and ultimately to the customers themselves.”