Two major container lines have joined a blockchain platform spearheaded by market leader Maersk Line and IBM.
Germany's Hapag-Lloyd and Japanese platform Ocean Network Express were today revealed as adopters of TradeLens.
They join fellow container giants CMA CGM and MSC Mediterranean Shipping Company, meaning the platform now covers over half of the world’s ocean container cargo.
It also means all three of the world’s leading vessel sharing platforms have now signed up.
Martin Gnass, managing director of IT at Hapag-Lloyd, said in a statement that expanding digital collaboration was critical to the evolution of the container shipping industry.
“Now, with five of the world’s six largest carriers committed to the platform, not to mention many other ecosystem participants, we can collectively accelerate that transformation to provide greater trust, transparency and collaboration across supply chains and help promote global trade,” Gnass said.
Maersk partnered with IBM to explore blockchain opportunities in 2017 and forged a formal joint venture the following year with 51% stake in the new vehicle, a structure designed to allow other lines to join.
Vincent Clerc, chief commercial officer at AP Moller-Maersk, said “Many of the processes for transporting and trading goods are costly, in part, due to manual and paper-based systems.
“Replacing these peer-to-peer and often unreliable information exchanges, the platform enables participants to digitally connect, share information and collaborate across the shipping supply chain ecosystem.”
He said the neutral industry platform, ease of documentation and the potential of introducing new products on top were key attributes for Maersk in its strategic transformation to become an end-to-end container logistics company.
Noriaki Yamaga, managing director of corporate & innovation, Ocean Network Express, said open standards and governance would benefit the entire industry,
“The opportunities to drive greater innovation across the shipping supply chain are enormous and we are excited about the opportunity to provide our leadership and insight to help the platform continue to evolve,” Yamaga added in a statement.
