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CMA CGM, MSC sail on blockchain bandwagon with TradeLens

Container carriers CMA CGM and MSC Mediterranean Shipping Company (MSC) have joined blockchain-enabled digital shipping platform TradeLens (www.tradelens.com).

TradeLens developed by A.P. Moller - Maersk and IBM

The platform, which enables participants to connect, share information and collaborate across the shipping supply chain ecosystem, is jointly developed by A.P. Moller - Maersk and IBM. Apart from promoting TradeLens, the companies will offer their customers and partners complementary services on the platform.

TradeLens, a transparent record of transactions for large networks

TradeLens members get a comprehensive view of their data and are able to digitally collaborate as cargo moves around the world. This helps to create a transparent, secured, immutable record of transactions, especially for large networks of disparate partners.

It enables permissioned parties access to trusted data in real time

According to a press release, “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.”

Participants derive significant value from TradeLens

“Digitization is a cornerstone of the CMA CGM Group’s strategy to provide an end-to-end offer tailored to our customers’ needs. We believe that TradeLens, with its commitment to open standards and open governance, is a key platform to help usher in this digital transformation. TradeLens’ network is already showing that participants from across the supply chain ecosystem can derive significant value,” said Rajesh Krishnamurthy, executive vice president, IT & transformations, CMA CGM Group.

TradeLens has 100 participants

TradeLens currently has 100 participants on its platform. It gives real-time ownership rights and permissioned access to shipping data while also committing to ensure privacy and confidentiality. “More than a hundred participants have put their trust in the TradeLens network and are gaining greater transparency and simplicity in the movement of goods. Together we are advancing a shared aim to modernize the world’s trading ecosystems,” said Bridget van Kralingen, senior vice president, global industries, clients, platforms & blockchain, IBM.

TradeLens with enormous potential to push industry to digitize

“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.

 

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