Shipping lines CMA CGM, China Cosco Shipping, Hapag-Lloyd and OOCL and leading port/terminal operating groups Cosco Shipping Ports, Hutchison Ports, Port of Qingdao, PSA International and Shanghai International Port Group (SIPG) areto become shareholders in Global Shipping Business Network (GSBN)
GSBN is being structured as a ‘not-for-profit’ organisation that as a secure and trusted data exchange platform for all stakeholders in the supply chain. Hong Kong headquartered CargoSmart will be the technology solutions provider and operator of GSBN, whose main objectives will be to ‘nurture community participation and introduce a wide range of innovative services and applications to streamline operational processes and increase overall efficiency in the industry’.
Commenting on the development, Ding Songbing, manager of the strategy and research department at Shanghai International Port Group, said: “Existing data exchange and practices in the shipping industry do not adequately address all terminal operational details, leading to missed opportunities to improve overall efficiency. With terminal operators being founding members of the blockchain platform, we believe GSBN will capitalise on new and existing opportunities on the terminal side and expedite digital transformation in the industry.