CMA CGM and MSC Mediterranean Shipping Company (MSC) have fully integrated onto TradeLens, the blockchain-based supply chain platform developed by A.P. Moller-Maersk (Maersk) and IBM.
According to a statement from IBM, the two carriers, along with Maersk, will act as platform foundation carriers and look to play a key role in encouraging the use of blockchain in the supply chain.
The addition of these two major global shipping leaders marks a crucial milestone for the industry, the statement read, which until now has too often relied on paper-based trade and manual document handling that lead to increased costs and reduced business continuity.
Maersk, MSC, CMA CGM and IBM, together with the expanding TradeLens network of terminals, customs authorities and 3PL and intermodal providers, are ushering in a transformation designed to benefit all network participants by making it easier to quickly and more reliably share documents and shipping data and digitally collaborate.
“Digitization is a cornerstone of the CMA CGM Group’s strategy aimed at providing an end-to-end solution tailored to our customers’ needs,” Marc Bourdon, CMA CGM Senior Vice President, Commercial Agencies Network.
An industry-wide collaboration like this is truly unprecedented. Only by working together and agreeing to a shared set of standards and goals are we able to enact the digital transformation that is now touching nearly every part of the global shipping industry.”
This completes a digital transformation that has taken more than a year, requiring considerable investment in new API capabilities. An important milestone in the process was a 15-customer pilot involving more than 3,000 unique consignments, 100,000 events and 6,000 containers to ensure the TradeLens platform distributes and shares shipment data across various supply chains with speed and accuracy, according to IBM.
TradeLens makes it possible to access data from the source in near real-time, boosts the quality of information, provides a comprehensive view of data as cargo moves around the world, and helps create a more timely, secured record of transactions.
Launched in 2018, the TradeLens ecosystem now includes more than 175 organizations – extending to more than 10 ocean carriers and encompassing data from more than 600 ports and terminals. Already it has tracked 30 million container shipments, 1.5 billion events and roughly 13 million published documents.
For customers, the addition of CMA CGM and MSC in production can result in fewer data gaps as they do business with multiple carriers. Additionally, other members such as ports, terminals, authorities and intermodal providers can benefit from the ability to use permissioned data sharing to provide a comprehensive view of freight moving around the world.
Terminal operators who use TradeLens to improve yard planning will now also be able to access far more comprehensive data for processing multi-carrier vessels.
“TradeLens is an important initiative in the digitalization of global shipping and logistics, with the potential to help carriers and their customers to increase transparency and reduce errors and delays, all at a crucial time when the industry is re-thinking and improving the resiliency of supply chains,” said Andre Simha, Global Chief Digital & Information Officer, MSC Mediterranean Shipping Company.
“By completing the integration, we can now begin showing our customers and business partners how they can create and see value from the platform, and we hope that many of them will join it, creating an even larger and more beneficial ecosystem.”