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Two major carriers join IBM-Maersk blockchain shipping initiative TradeLens

Cargo ship.Max Pixel/Max Pixel

Wed, 03 Jul 2019, 07:31 am UTC

Blockchain’s influence on the shipping industry is about to get a whole lot bigger thanks to the new development in the Maersk-IBM project.

A total of 15 members have signed up to jump on board this barge so far and they are no low-level players, either. The two notable names to recently join are Ocean Network Express and Hapag-Lloyd.

Anyone who knows anything about shipping will recognize those two brands as some of the biggest cargo carriers in the world, CoinDesk reports. Among those already counted are CMA CGM and MSC. Together, they all total 15 members and they will be part of the TradeLens blockchain shipping initiative.

In a press release, Managing Director Information Technology at Hapag-Lloyd, Martin Gnass expressed his delight at the prospect of being a part of this new major venture. He also noted how the project will gain from this new development.

“Expanding digital collaboration is critical to the evolution of the container shipping industry,” Gnass said. “TradeLens has made significant progress in launching a much-needed transformation in the industry, including its partnership model. Now, with five of the world’s six largest carriers committed to the platform, not to mention many other ecosystem participants, we can collectively accelerate that transformation to provide greater trust, transparency and collaboration across supply chains and help promote global trade.”

Ocean Network Express Managing Director of Corporate & Innovation Noriaki Yamaga also voiced his opinion on this momentous occasion and underscored the importance of innovation for the shipping industry as a whole.

“We believe this innovative approach based on open standards and open governance can benefit the entire industry while ultimately benefitting our customers who rely on the world’s shipping industry to transport global container volume of more than 120 million TEU across international borders each year,” he said. “The opportunities to drive greater innovation across the shipping supply chain are enormous and we are excited about the opportunity to provide our leadership and insight to help the platform continue to evolve.”

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