MSC and CMA CGM Enter TradeLens Network

 28 May 2019 04.16pm

MSC Mediterranean Shipping Company and CMA CGM, two of the world’s largest shipping lines, have announced their decision to join Maersk’s blockchain-based platform TradeLens.

With the entrance of the two new carriers, approximately half of the container cargo transported via the ocean supply chain will now be available on TradeLens.

The addition of MSC and CMA CGM is also expected to develop greater transparency and collaboration throughout the logistics sector, promoting more efficient global trade for users of the platform.

Nadia Hewett, WEF, discusses the integration of blockchain into the maritime supply chain in a recent Port Technology technical paper

Rajesh Krishnamurthy, Executive Vice President, IT & Transformations, at CMA CGM, said: “Digitization is a cornerstone of the CMA CGM Group’s strategy to provide an end-to-end offer tailored to our customers’ needs.

“We believe that TradeLens, with its commitment to open standards and open governance, is a key platform to help usher in this digital transformation.”

André Simha, Chief Digital and Information Officer at MSC, also commented: “Digital collaboration is a key to the evolution of the container shipping industry. The TradeLens platform has enormous potential to spur the industry to digitize the supply chain and build collaboration around common standards.

“We think that the TradeLens Advisory Board, as well as standards bodies such as the Digital Container Shipping Association, will help accelerate that effort.”

 

 

As part of their cooperation with other stakeholders on the TradeLens platform, CMA CGM and MSC will operate a blockchain node and “participate in consensus” to validate transactions, host data, and act as trusted validators for the network.

The two companies will also be on the TradeLens Advisory Board, joining various members of the supply chain to agree standards for neutrality and openness in the maritime sector.

Dean Croke has discussed what blockchain could mean for logistics in a recent Port Technology technical paper

Vincent Clerc, Chief Commercial Officer, A.P. Moller – Maersk, made a statement: “While carrier participation is critical, it is important to note that the TradeLens platform relies on participation from across the entire supply chain ecosystem.

“Increasing ease of doing business for our customers and providing visibility across the container journey is at the center of the Maersk strategy.”

Read more:

  Automation and Optimisation , Digitalisation, Carriers, CMA CGM, Maersk, MSC, Finance, Global Economy/Trade, Security and Logistics, Shipping