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.