Tag: IBM

Modern Terminals, the second largest container terminal operator in Hong Kong, has joined the TradeLens project, a blockchain-enabled technological solution developed by Maersk and IBM, aiming to minimize traditional shipping documentation and ease transactions in the global supply chain.

Maersk and IBM are reportedly struggling with their blockchain platform, TradeLens, as besides them, only one other carrier has joined in, Pacific International Lines. This comes at a time when, Maersk's competitors such as CMA CGM, Cosco, Evergreen, OOCL and Yang Ming have also established a similar platform.

Singaporean container ship operator Pacific International Lines Ltd (PIL) announced collaboration with IBM Singapore (IBM) in another blockchain trial to design and create an electronic bill of lading aimed at enhancing the documentation process in supply chain management.

Maersk and IBM announced that the name of their joint blockchain venture will be named TradeLens. In addition, the joint venture now counts 94 partners. TradeLens aims to move all administrative processes and transactions associated with one container shipment to the internet.

The Australian Government has awarded IBM a new AU$1B, five-year technology partnership, involving IBM hardware, software and cloud-based solutions, and including joint innovation programs in quantum, cyber security, and research aimed at furthering the government's digital transformation agenda.

The upgrade of current technologies or the development of new applications open a new world of opportunities. However, we are not talking about technologies that will appear in the distant future but about technologies that do not exist at present and are expected to come within the next five years. These will impact many industries and shipping in not an exception.

The European Commission has approved, under the EU Merger Regulation, the proposed creation of a joint venture between IBM and Maersk. The joint venture will focus on providing secure methods for conducting global trade using blockchain technology. 

The companies worked on a Proof Of Concept exercise, built on IBM Blockchain Platform, applying and then testing a blockchain-based supply chain platform to track and trace cargo movement from Chongqing to Singapore through the Southern Transport Corridor.

After signing a MoU in August 2017, PIL, PSA and IBM Singapore worked on a Proof Of Concept exercise, built on IBM Blockchain Platform, applying and then testing a blockchain-based supply chain platform to track and trace cargo movement from Chongqing to Singapore via the Southern Transport Corridor.

Logistics provider, Agility became the first freight forwarder to cooperate on a joint solution by Maersk and IBM to provide efficient and secure methods for conducting global trade by using blockchain technology to manage container shipments. Agility will identify events regarding individual shipments and share and receive information about them.