Global container carriers CMA CGM and MSC to join TradeLens

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Global container carriers CMA CGM and MSC to join TradeLens

June 20, 2019 - 05:40
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Global container carriers CMA CGM and MSC Mediterranean Shipping Company (MSC) announced they will join TradeLens, a blockchain-enabled digital shipping platform, jointly developed by A.P. Moller - Maerskand IBM.

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 addition of CMA CGM and MSC will provide a significant boost to the TradeLens vision of greater trust, transparency, and collaboration across supply chains to help promote global trade. The companies will promote TradeLens and create complementary services on top of the platform for their customers and partners.

"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," said Rajesh Krishnamurthy, Executive Vice President, IT & Transformations, CMA CGM Group. "TradeLens' network is already showing that participants from across the supply chain ecosystem can derive significant value."

"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," said André Simha, Chief Digital & Information Officer, MSC. "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 today, TradeLens is already processing over ten million 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. CMA CGM and MSC will operate a blockchain node, participate in consensus to validate transactions, host data, and assume the critical role of acting as Trust Anchors, or validators, for the network.