Tradelens has developed blockchain based digital container solutions
Two shipping giants, including French container carriers CMA CGM and Geneva-based MSC Mediterranean Shipping Company (MSC), are now integrated onto TradeLens, a blockchain-based digital container logistics platform, jointly developed by Maersk and IBM.
Together with Danish Maersk, CMA and MSC will act as platform foundation carriers with a role in expanding the ecosystem and platform operations, including playing key roles as validators on the blockchain network.
This will help them ensure a more fully integrated, timely and consistent view of logistics data for their containerized freight around the world.
TradeLens digitial platform founded by Maersk and IMB in 2018
Driven partly by the effects of social distancing during the pandemic, Maersk App has seen nearly trebling the number of transactions in 2020 – from a 70.000/week average in January 2020 to 194.000/week average since June.
The TradeLens ecosystem is gaining momentum at a time where customers and supply chain stakeholders increasingly turn to digital and online solutions.
They see the value of digital products and platforms in keeping their supply chains flowing during full or partial lockdowns which complicate traditional manual and physical ways of interaction between stakeholders in the logistics value chain,
…said Vincent Clerc, CEO of Ocean & Logistics, A.P. Moller – Maersk.
TradeLens is ecosystem connected and will avoid data gaps for participants
The addition of CMA CGM and MSC marks a milestone for eliminating paper-based trade and manual document handling that leads to increased costs and reduced business continuity.
TradeLens members use the platform to connect within the ecosystem and share near real-time information needed for their shipments based on permissions, without sharing sensitive data.
Meanwhile, the addition of CMA CGM and MSC in production can result in fewer data gaps for the participants, as they do business with multiple carriers.
Launched in 2018, the TradeLens ecosystem now includes more than 175 organizations and has already tracked 30 million container shipments. Other recent additions of new ports and terminals include the Port of Vladivostock, DP World, PT Salam Pacific Indonesia Lines (SPIL), Portbase, QTerminals and Hamad Port, SSA Marine’s Manzanillo International Terminal – Panama (MIT-Panama), Shipwaves, South Asia Gateway Terminals and Yilport Holding.