Israeli Shipping Firm ZIM To Pilot IBM-Maersk Blockchain Shipping Platformbr>
Israeli shipping company ZIM has signed on as a member of TradeLens, a blockchain-enabled global shipping solution jointly developed by A.P. Moller–Maersk and IBM.
ZIM is the biggest cargo shipping company in Israel, and one of the top-20 global carriers. It operates dry van, high cube, open top, flexitank, reefer, reefer high cube, and flat rack containers, which transport out of gauge, dangerous, and refrigerated cargo, as well as perishable goods. It operates approximately 80 vessels with a capacity of approximately 547,000 TEUs.
Launched last year, TradeLens uses blockchain technology to enable trust between multiple trading partners – from carriers to freight forwarders, customs officials, port authorities and more — when transacting in a digitized global trade documentation process. The TradeLens ecosystem, which has grown to over 100 member organizations, allows members to get a single shared view of a transaction without compromising details, privacy or confidentiality and can collaborate more efficiently and with greater certainty through real-time access to shipping data and shipping documents.
By joining TradeLens, ZIM will be able to continue its push toward digitizing its processes to enable efficiencies and cost savings to the company and the customers by enabling greater transparency and more efficient processes.
“We are very pleased to join TradeLens, as part of our vision to be at the forefront of digital innovation in shipping,” said ZIM CIO Eyal Ben Amram. “ZIM endorses a proactive approach of promoting and investing in innovative digital solutions, such as the pioneering blockchain-based electronic Bill of Lading initiative, in collaboration with Wave Inc, and the recent investment in Ladingo, a ground-breaking e-commerce solution.”
Mike White, TradeLens leader for Maersk, said that the addition of ZIM will bring a strong ethos of digital innovation to the TradeLens ecosystem.
“TradeLens has made great progress in bringing transformation to traditional shipping processes through technology that enables greater transparency and efficiency,” said White. “What makes the solution so effective is its ability to deliver these benefits while still allowing carriers like ZIM and others to maintain their competitive advantages. The more carriers and other ecosystem members that join the platform, the closer we come to bringing about a new era in global trade.”