The CMA CGM Group has signed a Memorandum of Understanding (MoU) with consortium partners CargoX, eTEU, ICE, and SGTraDex, according to the company's release.
The agreement aims to facilitate seamless interoperability of electronic bills of lading (eBL) across different platform providers using the TradeTrust framework.
The initiative involves forming a joint working group comprising representatives from CMA CGM, the Infocomm Media Development Authority (IMDA) of Singapore, and the consortium partners.
The group will oversee various workstreams and trials, including: Assessing technical, legal, and business feasibility for TradeTrust-enabled interoperability between eBL platforms.
Developing and conducting pilot trials in compliance with the UNCITRAL Model Law on Electronic Transferable Records (MLETR).
Bo Wegener, Chief Executive Officer of CMA CGM Asia Pacific, stated: “CMA CGM is pleased to support this initiative reflecting our commitment to advance sustainable and secure digital trade. We look forward to contributing our expertise and the close collaboration with our partners to ensure the success of the trials.”
Johnson Poh, Assistant Chief Executive of IMDA, commented: “We are encouraged that CMA CGM and other leading players in this space have chosen to explore TradeTrust as their framework for seamless interoperability of electronic bills of lading at scale. We are committed to support this initiative through sharing our expertise and driving collaboration with the consortium.”
CMA CGM is a French container transportation and shipping company founded in 1978. As a global player in maritime, land, air, and logistics solutions, the group operates a fleet of over 500 vessels, serving more than 420 ports worldwide.
CargoX is a blockchain-based document transfer platform that offers secure and efficient digital solutions for the logistics industry.
eTEU is a technology company focused on digitizing trade documentation processes.
ICE (International Chamber of Exchange) is an organization that facilitates international trade by promoting standardized practices and digital solutions.
SGTraDex (Singapore Trade Data Exchange) is a digital infrastructure that enables the secure exchange of trade data between supply chain ecosystem partners.