Nine leading container lines and terminal groups have signed a deal to develop a global blockchain-based platform to speed up shipping transactions.
They have agreed a formal statement of intent to form a consortium to develop the Global Shipping Business Network (GSBN).
Based on blockchain technology, this is an open digital platform based on distributed ledger technology, they said.
CMA CGM, Cosco Shipping Lines, Evergreen Marine, OOCL, and Yang Ming are the shipowners.
The group also includes DP World, Hutchison Ports, PSA International and Shanghai International Port, plus software solutions provider CargoSmart.
"The new platform will establish a digital baseline that aims to connect all stakeholders, including carriers, terminal operators, customs agencies, shippers, and logistics service providers to enable collaborative innovation and digital transformation in the supply chain," CargoSmart said.
"Seamless sharing of data"
The consortium will offer a forum to explore cross-industry opportunities and empower future innovation and insights.
The group intends to establish standards that enable the "seamless" sharing of documents and data across all stages of the shipping lifecycle, it said.
The first planned application will allow shippers to digitise and organise their dangerous goods documents and automatically connect with relevant parties to streamline the approval process, from December this year.
"OOCL is very excited to be a part of this highly collaborative environment that can facilitate the cross-pollination of ideas towards even more innovative business models and solutions for our customers,” said OOCL co-CEO Andy Tung.
Yang Ming said it was "always willing to try innovative technologies to keep up with the digital transformation of shipping industry in the collaboration with others."
“The GSBN blockchain consortium has the potential to enable faster, more accurate processing of cargo information and more transparency of terminal operations to cargo owners,” said Yan Jun, president of Shanghai International Port.
