Maersk’s blockchain platform got off to a slow start, with only one other carrier on board when it launched. With the addition of two more major operators, it has reached a critical mass.
The world’s second and third largest container lines, MSC and CMA CGM, are joining the blockchain digital shipping platform, TradeLens, developed by the biggest box line AP Moller – Maersk and IBM. TradeLens enables participants to connect, share information, and collaborate across the shipping supply chain using blockchain technology to connect the partners.
With MSC and CMA CGM joining TradeLens, all of the top three container lines globally are now on the platform giving it a significant boost. Combined with other lines committed to the platform, nearly half the world’s container cargo will be available on TradeLens.
TradeLens said it was already processing over 10 million discrete shipping events and thousands of documents each week.
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 permissible access to data helps ensure privacy and confidentiality while enabling users to collaborate more efficiently with real-time access to shipping data.
“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,” said Rajesh Krishnamurthy, evp, IT & transformations, CMA CGM Group. “The TradeLens platform has enormous potential to spur the industry to digitize the supply chain and build collaboration around common standards,” said André Simha, chief digital & information officer for MSC.