Germany-based company Hapag-Lloyd and Japan’s Ocean Network Express (ONE) have completed the integration with TradeLens, a blockchain-enabled digital shipping platform.
As disclosed, by connecting with TradeLens, which was jointly developed by IBM and Maersk, the companies will ensure a more timely and consistent view of logistics data for their containerized freight around the world.
TradeLens platform, run on IBM Cloud and IBM Blockchain, was developed with the aim to digitize shipping data, automate processes and enable participants to share data in a permissioned manner.
Through the platform, the network participants can share information with their supply chain partners “reducing the need for paper-based processes and giving participants in global trade a single, up-to-date picture of the flow of their goods,” according to the statement.
“With its open standards and open governance, it can benefit … the entire industry to drive for digitalization and automation,” said Jeremy Nixon, CEO of Ocean Network Express.
Furthermore, Rolf Habben Jansen, CEO of Hapag-Lloyd pointed out that the company expects the increased transparency, accuracy, speed and efficiency in the supply chains will lead to reduced costs.
With the latest addition, five of the top six global shipping carriers are now integrated onto the platform and the platform enables connectivity to two-thirds of containerized freight, TradeLens claims.
The platform ecosystem now includes more than 300 organizations – encompassing ten ocean carriers and data from more than 600 ports and terminals.
So far, it has processed 42 million container shipments, nearly 2.2 billion events and some 20 million documents.
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