COSCO launches blockchain platform for China’s inland ports

inland container terminal closeup with yangtze river in jiujiang, China

COSCO Shipping and Anhui Provincial Port and Shipping Group have launched a blockchain-based paperless import cargo platform for China’s inland ports.

In a statement, COSCO Shipping said the technology was officially launched at Wuhu Port, Anhui Province.

After China’s major coastal ports including Shanghai, Xiamen, Qingdao, Ningbo, Guangzhou and Tianjin, Wuhu Port has become the first inland port in China to realise blockchain-based paperless import cargo delivery.

COSCO Shipping described it as a “key initiative” in its goal to integrate cargo operations on the Yangtze River Delta and will strengthen the strategic cooperation with Anhui Province.

It will also enable it to implement the relevant requirements of the Ministry of Transport’s ‘clearway program’ of port and shipping for imported e-commerce cargo, and to further promote the digitalisation of shipping.

“Wuhu Port succeeded in joining the port and shipping blockchain platform via the blockchain of Shanghai International Port Group (SIPG), and completed the data connection with COSCO Shipping,” it said.

The company added it will implement the blockchain Bill of Lading (B/L) mode. With the technical characteristics of blockchain, i.e. traceability and reliability, it has realised data connection between different systems and process collaboration and mutual trust between shipping companies and ports, so that the whole operational process is visible, time controllable and risk preventable.

“In the past, customers had to go back and forth several times to complete the import business process of shipping companies, ports, and other related entities, COSCO Shipping claimed.

“But now they can go through all the import D/O claim procedures online through just one click. This has greatly saved the time and cost of waiting in line and traveling back and forth.”

This solution, COSCO Shipping said, can not only help attract cross-border e-commerce import customers with high requirements for timeliness to choose Wuhu Port, but also alleviate the shortage of container resources for foreign trade exports in Anhui Province.

COSCO Shipping said it will continue to adhere to its ‘digitalisation’ strategy, make constant innovation through technological empowerment, strengthen upstream and downstream cooperation in the industry chain, and tap deeper into the potential of intelligent shipping to provide better and more convenient services to customers.

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