Hapag-Lloyd and Ocean Network Express Join Blockchain powered Digital Shipping Platform, Tradelens

Major Ocean carriers Hapag-Lloyd and Ocean Network Express (ONE) joined blockchain-enabled digital shipping platform, Tradelens.

The platform was joined developed by A.P. Moller - Maersk and IBM.

Hapag-Lloyd is the world’s fifth largest carriers. Singapore-based Ocean Network Express (ONE) is the world’s sixth largest carriers. Due to these new carriers, the TradeLens platform has more than half of the world’s Ocean container cargo. Other biggest carriers include CMA CGM ( the 3rd largest carrier), MSC Mediterranean Shipping Company (the 2nd largest) and APM Maersk (the largest of all).

A.P. Moller - Maersk and IBM launched TradeLens to help modernize the world’s supply chain ecosystems. The platform aims to lower existing costly and paper-based processes for transporting and trading goods.

Executive Opinion

Managing Director Information Technology at Hapag-Lloyd, Martin Gnass, said, "Expanding digital collaboration is critical to the evolution of the container shipping industry. 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."

Managing Director, Corporate & Innovation, Ocean Network Express, Noriaki Yamaga, said, "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. The opportunities to drive greater innovation across the shipping supply chain are enormous and we are excited about the opportunity to provide our leadership and insight to help the platform continue to evolve."

Blockchain Powered Tradelens and Shipping industry 

Blockchain network helps in sharing the immutable record of all the transactions. It is also possible to create permisioned blockchain network so that only relevant parties access to secured data and that too in real time. The announcement noted that 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 blockchain network.

The newly added carriers pave the way for further driving TradeLens adoption. The announcement noted that customers can now access to major carriers in all three leading global vessel-sharing alliances on the blockchain powered Tradelens platform.

Due to the inherent characteristics of Blockchain technology, the members of TradeLens gain a comprehensive view of their data. Further members can collaborate as cargo moves around the world, helping create a transparent, secure, immutable record of transactions.

Both companies, Hapag-Lloyd and ONE, will be represented on the TradeLens Advisory Board, says the announcement.