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Container Lines and Terminal Operators Sign Blockchain MOU

signing ceremony

By MarEx 2018-11-06 19:25:23

Nine ocean carriers and terminal operators have signed an MOU to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology. 

The participants include ocean carriers CMA CGM, COSCO Shipping Lines, Evergreen Marine, OOCL, and Yang Ming; terminal operators DP World, Hutchison Ports, PSA International and Shanghai International Port; and software company CargoSmart. The new platform will connect all stakeholders, including carriers, terminal operators, customs agencies, shippers and logistics service providers to digitize their supply chain.

CargoSmart initiated the formation of the blockchain consortium, and will employ big data analytics, artificial intelligence, Internet of Things and blockchain technologies to develop the system. The first planned application will allow shippers to digitize and organize their dangerous goods documents and automatically connect with relevant parties to streamline the approval process. The application is scheduled to be available in December 2018.

In August, A.P. Moller - Maersk and IBM introduced their global blockchain solution TradeLens, with 94 organizations already participating. The companies announced their joint venture in January this year after collaborating on the concept since 2016. Early adopters include more than 20 port and terminal operators across the globe, including PSA Singapore, International Container Terminal Services Inc, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase and terminal operators Holt Logistics at the Port of Philadelphia. They join the global APM Terminals' network in piloting the solution at over 230 marine gateways worldwide.

The following executives signed up for CargoSmart's system development at a signing ceremony at the China International Import Expo in Shanghai on November 6, 2018:

Rodolphe Saadé, Chief Executive Officer and Chairman, CMA CGM
Wang Haimin, Managing Director, COSCO SHIPPING Lines
Matthew Leech, Chief Operating Officer, Port and Terminals, DP World
Lawrence Lee, President, Evergreen Marine Corporation
Ivor Chow, Director - Corporate Finance & Business Development, Hutchison Ports
Andy Tung, Co-Chief Executive Officer, Orient Overseas Container Line
Tan Chong Meng, Group Chief Executive Officer, PSA International 
Yan Jun, President, Shanghai International Port (Group)
Bronson Hsieh, Chairman, Yang Ming Marine Transport Corporation
Steve Siu, Chief Executive Officer, CargoSmart