Global container carriers CMA CGM and MSC Mediterranean Shipping Company (MSC) announced they will join TradeLens, a blockchain-enabled digital shipping platform, jointly developed by A.P. Moller – Maersk and 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.
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.
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.
About CMA CGM
Led by Rodolphe Saadé, the CMA CGM Group is a world leader in shipping and logistics.
Its 509 vessels serve more than 420 ports on five continents around the world and carried nearly 21 million TEUs (twenty-foot equivalent units) in 2018. With CEVA, a world leader in logistics services, CMA CGM handled more than 500,000 tons of airfreight and 1.9 million tons of inland freight in 2018. CMA CGM is enjoying sustained growth and is constantly innovating to offer customers new maritime, inland and logistics solutions.
Present on every continent and in 160 countries through its network of 755 offices and 750 warehouses, the Group employs 110,000 people worldwide, of which 2,400 in Marseille where its head office is located.
About MSC
MSC Mediterranean Shipping Company S.A. is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world’s leading container shipping lines, MSC operates 480 offices across 155 countries worldwide with over 70,000 employees. With access to an integrated network of road, rail and sea transport resources which stretches across the globe, the company prides itself on delivering global service with local knowledge. MSC’s shipping line sails on more than 200 trade routes, calling at over 500 ports.
About TradeLens
The TradeLens platform has been jointly developed by Maersk and IBM. TradeLens is an open and neutral industry platform underpinned by blockchain technology, supported by major players across the global shipping industry. The platform promotes the efficient, transparent and secure exchange of information in order to foster greater collaboration and trust across the global supply chain.