The Global Shipping Business Network (GSBN) has signed a Memorandum of Understanding (MoU) with eight major shipping port groups in China to accelerate the digital transformation of the shipping and logistics industry.
The groups include Guangzhou Port Company, Fujian Province Port Group, Zhejiang Provincial Seaport Investment & Operation Group, Jiangsu Port Group, Anhui Provincial Port & Shipping Group, Shandong Port Group, Tianjin Port, and Hainan Harbor and Shipping Holding.
The GSBN described the collective coverage of these groups as a “major milestone” towards achieving greater collaboration and digital integration between shipping ports in China. It follows the release of Cargo Release, GSBN’s blockchain-enabled application, in July 2021.
“The MOU is an incredibly exciting moment, but it is just the start,” the GSBN said.
“Our aim is to harness our operating system to redefine global trade, unlocking efficiencies, improving resilience, and generating new value.
“As a not-for-profit consortium, we are fully committed to collaborating with both our members and the wider ecosystem to lead the digital transformation of the industry and continue to expand our use cases.
“We look forward to bringing the advantages of our consortium and operating system to other ports around the world.”
China has stepped up its efforts to utilise smart technologies to meet the extra demands placed on the global supply chain caused by the COVID-19 pandemic.
In June 2021 TradeLens signed an agreement with China Unicom Digital Tech to ease the flow of goods and said it wished to roll out blockchain technology across the country’s hubs and gateways.