With three carries now onboard data from nearly half of all ocean container cargo will be available on TradeLens.
CMA CGM and MSC Mediterranean Shipping Company (MSC) have announced they will join TradeLens, the blockchain-enabled digital shipping platform, jointly developed by A.P. Moller – Maersk and IBM.
“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,” TradeLens announced. It is also noteworthy that Maersk has now joined CMA CGM and MSC as an investor in Traxens, the box tracking and data initiative based in Marseille.
As soon as TradeLens was announced other blockchain hopefuls were lining up to claim other carriers would not support a platform developed by one of their competitors, but this news highlights how three of the biggest carriers are actually thinking differently . “Digitization is a cornerstone of the CMA CGM Group’s strategy to provide an end-to-end offer tailored to our customers’ needs, “ said Rajesh Krishnamurthy, Executive Vice President, IT & Transformations, CMA CGM Group. “We believe that TradeLens, with its commitment to open standards and open governance, is a key platform to help usher in this digital transformation”.
MSC also stressed the need for collaboration. “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. We think that the TradeLens Advisory Board, as well as standards bodies such as the Digital Container Shipping Association, will help accelerate that effort,” said André Simha, Chief Digital & Information Officer, MSC.
CMA CGM and MSC will both be on the TradeLens Advisory Board. At the implementation level they 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, TradeLens stated.
TradeLens emphasiesd that its platform is used by more than just carriers, with 100 participants across the industry, “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”.
TradeLens wants to add more members, and Proctor and Gamble added its voice to TradeLens’ call for other players in the supply chain to get onboard. “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 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.