Data for nearly half of the world’s ocean container cargo will now be available on the digital platform
CMA CGM and MSC are to join digital platform TradeLens, jointly developed by Maersk and IBM.
Maersk said in a statement that with CMA CGM, MSC, Maersk and other carriers committed to the platform, data for nearly half of the world’s ocean container cargo will be available on TradeLens. The companies will promote TradeLens and create complementary services on top of the platform for their customers and partners.
“Digitalisation 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,” said CMA CGM executive vice president, IT and transformations Rajesh Krishnamurthy. “TradeLens’ network is already showing that participants from across the supply chain ecosystem can derive significant value.”
MSC chief digital and information officer André Simha said “Digital collaboration is a key to the evolution of the container shipping industry. The TradeLens platform has enormous potential to spur the industry to digitalise 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.”
With more than 100 participants on the platform, TradeLens is processing over 10M discrete shipping events and thousands of documents each week, “providing shippers, carriers, freight forwarders, customs officials, port authorities, inland transportation providers and others a common view of transactions, which can build trust”, said Maersk’s statement.
CMA CGM and MSC will operate a blockchain node, participate in consensus to validate transactions, host data and assume the role of acting as ‘trust anchors’, or validators, for the network. CMA CGM and MSC will be on the TradeLens advisory board which will include members across the supply chain to advise on standards for neutrality and openness.
“While carrier participation is critical, it is important to note that the TradeLens platform relies on participation from across the entire supply chain ecosystem,” said Maersk chief commercial officer Vincent Clerc. “Increasing ease of doing business for our customers and providing visibility across the container journey is at the center of the Maersk strategy. And TradeLens is all about that in its aim to transform the supply chain industry and provide value to all players, from freight forwarders, to ports and terminal operators and inland transportation providers, to customs and other governmental agencies, and ultimately to the customers themselves."
Beneficial cargo owners like Procter and Gamble (P&G) will benefit from the addition of more carriers onto the platform. “…We are convinced that the industry will benefit from the transparency and accuracy of blockchain solutions and we are pleased to see MSC, CMA CGM and Maersk all on the TradeLens platform. We have been testing TradeLens for the P&G business and see potential as the solution scales. We look forward to industry-wide adoption to benefit all network members,” said P&G director global logistics purchases Michelle Eggers.