German company Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) have finalised their integration onto the blockchain-enabled digital shipping platform, TradeLens, launched by IBM and AP Moller-Maersk.
The integration was concluded after the completion of several pilot projects.
TradeLens is an unbiased, third-party platform that aims to enhance supply chain ecosystems globally. It operates on IBM Cloud and IBM Blockchain.
The platform enables users to link their main supply chain partners to the digital platform.
TradeLens streamlines documentation procedures, allowing the publication of data and documents, as well as providing quick and secure access.
It minimises paper-based processes and offers a single, updated status of the flow of goods.
TradeLens head and GTD Solutions CEO Mike White said: “A huge barrier to global trade has long been the inability for customers to securely share crucial information regarding the status of goods in an easily accessible and transparent way.
“By addressing this problem, the TradeLens ecosystem has grown rapidly, and the onboarding of Hapag-Lloyd and ONE, along with their customers, helps extend the value of TradeLens across the entire TradeLens ecosystem, enabling connectivity to two-thirds of global containerised freight for all customers and other permissioned parties through a single platform.”
More than 300 organisations, including ten ocean carriers, are currently using the solution, involving around 600 ports and terminals.
Other companies that are integrated onto the platform are AP Moller-Maersk, CMA CGM and MSC Mediterranean Shipping Company (MSC).
Recently, Latin America’s freight forwarder KLog.co joined TradeLens to enhance efficiency, lower operational costs and expand its global trade.