• 2017 December 12 13:01

    MOL with partners agree to start a demonstration test of blockchain technology in cross-border trade operations

    Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation, The Japan Research Institute, Limited, Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd., Mitsui Sumitomo Insurance Company, Limited and IBM Japan, Ltd. have agreed to start a demonstration test in December 2017 to verify the applicability of blockchain technology as a way to streamline and upgrade cross-border trade operations, MOL said in its press release.

    In the demonstration test, participating companies input information of real trade transactions using a blockchain-based application, by which a wide variety of documents, including trade agreements and logistics/insurance documents are digitized, recorded and shared among participants. By comparing against current operations, the test is intended to verify the effectiveness of blockchain technology for enhancing security and reducing the time required to settle cross-border trade transactions, discrepancies among related documents and administrative costs. Further, looking to commercialization, the technology will be evaluated for its viability in cross-border trade business operations.

    SMFG, SMBC, and JRI aim to use new information technologies proactively, thereby adapting to an increasingly fast-changing environment, and ultimately to become a more competitive and innovative financial group and continuously upgrade the quality of customer service. The demonstration test was planned with Silicon Valley Rep. Office. that conducts research on new technologies based on the PoC SMBC announced in February 2017. Through the application of blockchain technology to the safe-keeping of legal information, SMFG is committed to adding value and offering innovative new financial products and services.

    Mitsui & Co. provides trading services, offering safe and optimized delivery of goods and services desired by customers worldwide. In the demonstration test, the company aims to combine the experience and know-how gained from its long-standing global trading business with the cutting-edge blockchain technology, and achieve better productivity in trade transactions and gain new business opportunities.

    MOL group is a leading global marine transportation operator. As a provider of integrated transportation services, the group, meeting diverse needs for transportation, has earned a global reputation for safety. MOL is expected to offer related expertise to the demonstration test, and aims to become the corporate group that customers think of first when they choose a logistics business partner, by drawing upon ICT technologies to enhance its services.

    MSI's business offers safety and security to resolve various social challenges. The company, through this trade platform, aims to provide services developed using advanced technologies, such as blockchain and IoT.

    Seeking to develop various business applications that meet the business sector's demand for high-level security, IBM participates in Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies hosted by The Linux Foundation. The demonstration test will use Hyperledger Fabric, a blockchain framework and one of the Hyperledger projects.




2019 October 21

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17:50 Two LNG-powered Sovcomflot tankers successfully completed voyages along Northern Sea Route
17:36 Anglo-Eastern signs Cyber MOU with Naval Dome
17:13 Guard ship "Yaroslav Mudry" of RF Navy’s Baltic Fleet made business call in Limassol
17:05 Blockchain and DNA-based marine fuels tracking solution BunkerTrace goes live
17:02 Castor Maritime announces vessel acquisition
16:40 Yaroslavsky shipyard launches diving ship '75 Let Pobedy’ built for Transneft UW Service
16:21 Ministerial Conference pushes ratification of Cape Town Agreement
16:16 ACO Marine secures order to design and manufacture a Clarimar MF-3 biological wastewater management system for installation to the luxury yacht
16:09 ABB to bring autonomous technology to the Port of Singapore
16:02 Hunter Group ASA announces delivery of Hunter Saga
15:39 TransContainer reports 9M’19 net profit of RUB 10.426 million, up 68.3% YoY
15:02 Epic Gas completes major refinancing of twenty ships
14:47 Port of Baku becomes first Green Port in Caspian region
14:13 Sulphur 2020: stakeholders prepare for a sea change from 1 January 2020
13:52 USPA starts accepting applications for participation in concession tender of “Olvia Stevedoring Company”
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13:13 Innovative vessels visit port of Brussels
12:39 Ports of Antwerp and Zeebrugge initiate merger negotiations
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11:36 Port of Rotterdam posts Q3 2019 results
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11:00 CMA CGM launches SHIPFIN TRADE FINANCE, its new range of import and export financing solutions
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2019 October 20

16:05 EDPR and Aker Solutions to develop 500MW floating wind farm in Ulsan, South Korea
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11:03 USCG, Mexican Navy search for overdue aircraft in Gulf of Mexico
10:12 DOE authorizes LNG exports from the Venture Global Plaquemines LNG Project

2019 October 19

16:12 Bibby Marine appoints Helen Samuels to lead the company into its next phase of development
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10:49 Singapore company slapped with NOK 7 million fine in the Harrier case

2019 October 18

19:19 New port icebreaker named Ob delivered to FSUE Atomflot
18:54 Port Kolomna hosted ceremony of consecration for pusher tug named Sergey Kladko
18:31 RF Ministry of Transport to expand area banned for navigation near Crimea bridge
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17:57 NUTEP Container Terminal handled three millionth TEU since its operations started in 2004
17:38 Expert RA affirms its ‘ruA’ non-financial company credit rating on DeloPorts
17:13 Port of Virginia buys 25 new hybrid shuttle carriers
17:00 First grain shipment via Sabetta port expected in July 2020 – RF Ministry of Agriculture
16:46 Onezhsky Shipyard delivers buoy tender of Project 3265 named Ladozhsky
16:20 ERMA FIRST invests in METIS Cyberspace Technology
15:45 International organizations unite at IMO
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