CMA CGM and the Mediterranean Shipping Company (MSC) have announced they are to join TradeLens – the blockchain-enabled digital shipping platform developed by A.P. Moller - Maersk and IBM.
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.
TradeLens – which allows participants to share information across the shipping supply chain – now has more than 100 participants.
The addition of CMA CGM and MSC will result in data for nearly half the world's ocean container cargo being available on TradeLens.
The platform currently processes more than 10 million discrete shipping events, and thousands of documents, each week for shippers, carriers, freight forwarders, customs officials, port authorities, inland transportation providers and others.
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.
The companies will also be on the TradeLens Advisory Board, which will include members from across the supply chain to advise on standards for neutrality and openness.
“Digital collaboration is a key to the evolution of the container shipping industry,” says André Simha, chief digital officer, MSC.
“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.”