Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) Pte. Ltd announced they will join the blockchain-enabled digital shipping platform ‘TradeLens’. This platform is jointly developed by A.P. Moller – Maersk and IBM.
Hapag-Lloyd and ONE now join CMA CGM and MSC Mediterranean Shipping Company, both of which recently announced they are joining TradeLens. With these additions, the scope of the platform now expands to more than half of the world’s ocean container cargo.
These two new global carriers will help drive further adoption of TradeLens worldwide, with TradeLens customers having access to major carriers in all three vessel sharing alliances on the platform.
Martin Gnass, Managing Director Information Technology at Hapag-Lloyd, stated:
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
TradeLens aims to modernize the world’s supply chain ecosystems. Many of the processes for transporting and trading goods are very costly, partly, because of the manual and paper-based systems. Replacing these systems, the platform aspires to allow participants to digitally connect, share information and cooperate across the shipping supply chain ecosystem.
The addition of more leading carriers to TradeLens will help global supply chain customers expand and explore the benefits of digitization and deliver new opportunities to the increasing number of TradeLens ecosystem participants across the global supply chain
added Vincent Clerc, Chief Commercial Officer, A.P. Moller – Maersk.
As for blockchain itself, Hapag-Lloyd says it establishes a shared, immutable record of all the transactions that occur within a network and enables permissioned parties’ access to secured data in real time.
Hapag-Lloyd and ONE will each operate a blockchain node, take part in consensus to validate transactions, host data, and assume a critical role of acting as Trust Anchors, or validators, for the network.