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Hapag-Lloyd and ONE Join Maersk Blockchain Platform

blockchain

By The Maritime Executive 2019-07-02 17:51:40

Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) have announced they will join TradeLens, the blockchain-enabled digital shipping platform, jointly developed by A.P. Moller - Maersk and IBM.

As a neutral industry platform, TradeLens offers supply chain visibility, ease of documentation and the potential of introducing new products on top of the platform. Members of TradeLens gain a comprehensive view of their data and can collaborate as cargo moves around the world. The attributes of blockchain technology are ideally suited for large networks of disparate partners. Blockchain establishes a shared, immutable record of all the transactions that take place within a network and enables permissioned parties access to secured data in real time.

Hapag-Lloyd and ONE will each operate a blockchain node, participate in consensus to validate transactions, host data, and assume a critical role of acting as Trust Anchors, or validators, for the network. Both companies will be represented on the TradeLens Advisory Board, which will include members across the supply chain to advise on standards for neutrality and openness.

Hapag-Lloyd and ONE, the world’s fifth and sixth largest carriers respectively, join CMA CGM and MSC Mediterranean Shipping Company, both of which recently announced they are joining TradeLens. With these additions, the scope of the platform now extends to more than half of the world’s ocean container cargo.

Hapag-Lloyd has a fleet of 235 container ships and a total transport capacity of 1.7 million TEU. ONE, established on July 7, 2017 following the liner service integrations of “K” Line, Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK), has a fleet of over 210 container ships and a total transport capacity of approximately 1.55 million TEU.

The addition of these two global carriers will help drive further adoption of TradeLens around the world now that TradeLens customers have access to major carriers in all three leading global vessel sharing alliances on the platform. With an already significant presence in Asia, ONE is further strengthening and expanding its coverage through joint cooperation with TradeLens to help meet the challenging demands of the crucial Asia market.

Martin Gnass, Managing Director Information Technology at Hapag-Lloyd, said: “TradeLens has made significant progress in launching a much-needed transformation in the industry, including its partnership model. 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.”

“We believe this innovative approach based on open standards and open governance can benefit the entire industry while ultimately benefiting our customers who rely on the world’s shipping industry to transport global container volume of more than 120 million TEU across international borders each year,” said Noriaki Yamaga, Managing Director, Corporate & Innovation, Ocean Network Express.