TradeLens Archives - Total Supply Chain Summit | Forum Events Ltd

Total Supply Chain Summit | Forum Events Ltd Total Supply Chain Summit | Forum Events Ltd Total Supply Chain Summit | Forum Events Ltd Total Supply Chain Summit | Forum Events Ltd Total Supply Chain Summit | Forum Events Ltd

Posts Tagged :

TradeLens

TradeLens adds ocean carriers Hapag-Lloyd and Ocean Network Express
By:

Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) will join the TradeLens blockchain-enabled digital shipping platform, jointly developed by A.P. Moller – Maersk and IBM.

Hapag-Lloyd and ONE, the world’s fifth and sixth largest carriers respectively, join CMA CGM and MSC Mediterranean Shipping Company, both of which recently announced they are joining TradeLens.

With these additions, the scope of the platform now extends to more than half of the world’s ocean container cargo.

“TradeLens has made significant progress in launching a much-needed transformation in the industry, including its partnership model. Now, with five of the world’s six largest carriers committed to the platform, not to mention many other ecosystem participants, we can collectively accelerate that transformation to provide greater trust, transparency and collaboration across supply chains and help promote global trade” said Martin Gnass, Managing Director Information Technology at Hapag-Lloyd. 

TradeLens says the addition of the two global carriers will help drive further adoption of the platform around the world now that its customers have access to major carriers in all three leading global vessel sharing alliances on the platform.

With an already significant presence in Asia, ONE is further strengthening and expanding its coverage through joint cooperation with TradeLens to help meet the challenging demands of the crucial Asia market. 

“We believe this innovative approach based on open standards and open governance can benefit the entire industry while ultimately benefitting our customers who rely on the world’s shipping industry to transport global container volume of more than 120 million TEU across international borders each year,” said Noriaki Yamaga, Managing Director, Corporate & Innovation, Ocean Network Express.

TradeLens was launched to help modernize the world’s supply chain ecosystems. It says many of the processes for transporting and trading goods are costly, in part, due to manual and paper-based systems. Replacing these peer-to-peer and often unreliable information exchanges, the platform enables participants to digitally connect, share information and collaborate across the shipping supply chain ecosystem. 

Hapag-Lloyd and ONE will each operate a blockchain node, participate in consensus to validate transactions, host data, and assume a critical role of acting as Trust Anchors, or validators, for the network.

Both companies will be represented on the TradeLens Advisory Board, which will include members across the supply chain to advise on standards for neutrality and openness.

ZIM joins TradeLens as blockchain solution records 5m shipments
By:

ZIM Integrated Shipping Services is the latest member of TradeLens, a blockchain-enabled digital shipping solution jointly developed by A.P. Moller – Maersk and IBM.

The news comes as more than five million shipments have been recorded on TradeLens to date by 60 network members and 100 total ecosystem members.

TradeLens uses blockchain technology to enable trust between multiple trading partners — from carriers to freight forwarders, customs officials, port authorities and more — when transacting in a digitized global trade documentation process.

TradeLens ecosystem members get a single shared view of a transaction without compromising details, privacy or confidentiality and can collaborate more efficiently and with greater certainty through real-time access to shipping data and shipping documents.

By joining TradeLens, ZIM says it can continue its push toward digitizing its processes to enable efficiencies and cost savings by enabling greater transparency and more efficient processes.

Eyal Ben Amram, ZIM CIO, said: “We are very pleased to join TradeLens, as part of our vision to be at the forefront of digital innovation in shipping. ZIM endorses a proactive approach of promoting and investing in innovative digital solutions, such as the pioneering blockchain-based electronic Bill of Lading initiative, in collaboration with Wave Inc, and the recent investment in Ladingo, a ground-breaking e-commerce solution.”

“ZIM will bring a strong ethos of digital innovation to the TradeLens ecosystem and we’re thrilled to welcome their team. TradeLens has made great progress in bringing transformation to traditional shipping processes through technology that enables greater transparency and efficiency,” said Mike White, TradeLens leader for Maersk. “What makes the solution so effective is its ability to deliver these benefits while still allowing carriers like ZIM and others to maintain their competitive advantages. The more carriers and other ecosystem members that join the platform, the closer we come to bringing about a new era in global trade.”

“The addition of ZIM to TradeLens shows exactly why we worked with Maersk to create this solution,” said Daniel Melka, Country General Manager, IBM Israel. “Blockchain networks like TradeLens work best when comprised of a diverse network of participants who work together to affect change for an entire industry, which is what we are seeing happen with TradeLens.”

94 companies join IBM-Maersk blockchain supply chain solution
By:

Maersk and IBM have unveiled TradeLens, a platform jointly developed by the two companies to apply blockchain to the world’s global supply chain.

TradeLens is the result of a collaboration agreement between Maersk and IBM, a blockchain-enabled shipping solution designed to promote more efficient and secure global trade, bringing together various parties to support information sharing and transparency, and spur industry-wide innovation.

As part of the TradeLens early adopter program, IBM and Maersk also announced that 94 organizations are actively involved or have agreed to participate on the TradeLens platform built on open standards. The TradeLens ecosystem currently includes:

  • More than 20 port and terminal operators across the globe, including PSA Singapore, International Container Terminal Services Inc, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase, and terminal operators Holt Logistics at the Port of Philadelphia, join the global APM Terminals’ network in piloting the solution. This accounts for approximately 234 marine gateways worldwide that have or will be actively participating on TradeLens.
  • Pacific International Lines (PIL) have joined Maersk Line and Hamburg Süd as global container carriers participating in the solution.
  • Customs authorities in the Netherlands, Saudi Arabia, Singapore, Australia and Peru are participating, along with customs brokers Ransa and Güler & Dinamik.
  • Participation among beneficial cargo owners (BCOs) has grown to include Torre Blanca / Camposol and Umit Bisiklet.
  • Freight forwarders, transportation and logistics companies including Agility, CEVA Logistics, DAMCO, Kotahi, PLH Trucking Company, Ancotrans and WorldWide Alliance are also currently participating.

TradeLens uses IBM Blockchain technology as the foundation for digital supply chains, empowering multiple trading partners to collaborate by establishing a single shared view of a transaction without compromising details, privacy or confidentiality.

Shippers, shipping lines, freight forwarders, port and terminal operators, inland transportation and customs authorities can interact more efficiently through real-time access to shipping data and shipping documents, including IoT and sensor data ranging from temperature control to container weight.

Using blockchain smart contracts, TradeLens says it enables digital collaboration across the multiple parties involved in international trade. The trade document module, released under a beta program and called ClearWay, enables importers/exporters, customs brokers, trusted third parties such as Customs, other government agencies, and NGOs to collaborate in cross-organizational business processes and information exchanges, all backed by a secure, non-repudiable audit trail.

During the 12-month trial, Maersk and IBM worked with dozens of ecosystem partners to identify opportunities to prevent delays caused by documentation errors, information delays, and other impediments.

One example demonstrated how TradeLens can reduce the transit time of a shipment of packaging materials to a production line in the United States by 40 percent, avoiding thousands of dollars in cost. Through better visibility and more efficient means of communicating, some supply chain participants estimate they could reduce the steps taken to answer basic operational questions such as “where is my container” from 10 steps and five people to, with TradeLens, one step and one person.

More than 154 million shipping events have been captured on the platform, including data such as arrival times of vessels and container “gate-in”, and documents such as customs releases, commercial invoices and bills of lading. This data is growing at a rate of close to one million events per day.

Traditionally, some of this data can be shared through the EDI systems commonly used in the supply chain industry but these systems are inflexible, complex, and can’t share data in real-time. Too often, companies must still share documents via email attachment, fax and courier. TradeLens can track critical data about every shipment in a supply chain, and offers an immutable record among all parties involved.

“TradeLens uses blockchain technology to create an industry standard for the secure digitization and transmission of supply chain documents around the world,” commented Peter Levesque, CEO of Modern Terminals. “This initiative will generate tremendous savings for our industry over time while enhancing global supply chain security. Modern Terminals is pleased to participate as a Network Member in testing this exciting shipping industry innovation.”

“As a global logistics provider, CEVA sees a unique opportunity in TradeLens, joining forces with IBM, Maersk and other actors from our industry to promote global standards around an open and neutral solution, delivering on the promise of blockchain. It is an important step in our relentless journey to deliver increased value to all our customers and making business flow,” said Christophe Cachat, CIO of CEVA Logistics.

“We believe blockchain can play an important role in digitizing global shipping, an area of the global economy that moves four trillion dollars of goods every year. However, success with the technology rests on a single factor –bringing the entire ecosystem together around a common approach that benefits all participants equally,” said Bridget van Kralingen, senior vice president, IBM Global Industries, Solutions and Blockchain. “Our work with Maersk and other enterprises in the shipping ecosystem has shown that blockchain can be used to form a strong, connected network in which all members gain by sharing important data and that together we can transform a vital part of how global trade is conducted.”