TIM eMagazine Vol.4 Issue 2
Major ocean carriers
CMA CGM and MSC to
join TradeLens block-
chain-enabled digital
shipping platform
G
lobal container carriers CMA CGM and MSC
Mediterranean Shipping Company (MSC) today
announced they will join TradeLens (www.
tradelens.com), a blockchain-enabled digital
shipping platform, jointly developed by A.P.
Moller - Maersk (MAERSKb.CO) and IBM (NYSE:
IBM).
With CMA CGM, MSC, Maersk, and other
carriers committed to the platform, data for
nearly half of the world’s ocean container
cargo will be available on TradeLens. The
addition of CMA CGM and MSC will provide a
significant boost to the TradeLens vision of greater trust, transparency,
and collaboration across supply chains to help promote global trade. The
companies will promote TradeLens and create complementary services on
top of the platform for their customers and partners.
“Digitization is a cornerstone of the CMA CGM Group’s strategy to
provide an end-to-end offer tailored to our customers’ needs. We believe
that TradeLens, with its commitment to open standards and open
governance, is a key platform to help usher in this digital transformation,”
said Rajesh Krishnamurthy, Executive Vice President, IT & Transformations,
CMA CGM Group. “TradeLens’ network is already showing that participants
from across the supply chain ecosystem can derive significant value.”
“Digital collaboration is a key to the evolution of the container shipping
industry. The TradeLens platform has enormous potential to spur the
industry to digitize the supply chain and build collaboration around
common standards,” said André Simha, Chief Digital & Information Officer,
MSC. “We think that the TradeLens Advisory Board, as well as standards
bodies such as the Digital Container Shipping Association, will help
accelerate that effort.”
TradeLens enables participants to connect, share information and
collaborate across the shipping supply chain ecosystem. Members gain
a comprehensive view of their data and can digitally collaborate as
cargo moves around the world, helping create a transparent, secured,
immutable record of transactions.
The attributes of blockchain technology are ideally suited to 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 trusted data in real time.
With more than 100 participants on the platform today, TradeLens
is already processing over ten million discrete shipping events and
thousands of documents each week, providing shippers, carriers, freight
forwarders, customs officials, port authorities, inland transportation
providers, and others a common view of transactions, which can build
trust. A commitment to data ownership rights and permissioned access
to data helps ensure privacy and confidentiality while enabling users to
collaborate more efficiently with real-time access to shipping data.
“The major advances IBM continues to make in blockchain illustrate
that the technology is fostering new business models and playing an
important role in how the world works" said Bridget van Kralingen,
Senior Vice President, Global Industries, Clients, Platforms & Blockchain,
IBM. "More than a hundred participants have put their trust in the
TradeLens network and are gaining greater transparency and simplicity
in the movement of goods. Together we are advancing a shared aim to
modernize the world’s trading ecosystems.”
CMA CGM and MSC to Play an Important Role in the TradeLens Network
CMA CGM and MSC will operate a blockchain node, participate in
consensus to validate transactions, host data, and assume the critical
role of acting as Trust Anchors, or validators, for the network. CMA CGM
and MSC will be on the TradeLens Advisory Board which will include
members across the supply chain to advise on standards for neutrality
and openness.
Supporting the Entire Shipping Supply Chain
“While carrier participation is critical, it is important to note that the
TradeLens platform relies on participation from across the entire supply
chain ecosystem,” said Vincent Clerc, Chief Commercial Officer, A.P.
Moller - Maersk. “Increasing ease of doing business for our customers and
providing visibility across the container journey is at the center of the
Maersk strategy. And TradeLens is all about that in its aim to transform
the supply chain industry and provide value to all players, from freight
forwarders, to ports and terminal operators and inland transportation
providers, to customs and other governmental agencies, and ultimately to
the customers themselves."
Beneficial cargo owners like Procter and Gamble will benefit from
the addition of more carriers onto the platform. “P&G ships a significant
volume of ocean containers every year. Whether filled with our products
or the materials used in production, understanding the status of our
containers helps us manage an efficient supply chain. We are convinced
that the industry will benefit from the transparency and accuracy of
blockchain solutions and we are pleased to see MSC, CMA CGM, and
Maersk all on the TradeLens platform. We have been testing TradeLens
for the P&G business and see potential as the solution scales. We look
forward to industry-wide adoption to benefit all network members,”
said Michelle Eggers, Director Global Logistics Purchases, P&G.
www.
maersk.com/
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