Maersk has signed up container shipping rivals Hapag-Lloyd and Ocean Networks Express (ONE) for its blockchain-based TradeLens digital shipping platform.
Hapag-Lloyd and ONE, the world’s fifth and sixth largest carriers by capacity, respectively, will join CMA CGM and MSC Mediterranean Shipping Company, the world’s second and fourth largest carriers, who recently signed up for the platform in May. Maersk says with the addition the carriers, more than half of the world’s ocean containerized cargo is now covered on the platform.
Maersk launched TradeLens in 2018 in collaboration with IBM and it has steadily added more than 100 companies, port authorities, and other entities to the platform, which is heavily dependent on widespread industry participation. The platform is meant to digitize manual and paper-based systems across the supply chain.
Maersk says the addition of Hapag-Lloyd and ONE will help drive further adoption of TradeLens around the world now that the platform covers major carriers in all three leading global vessel sharing alliances. The addition of Singapore-based ONE, in particular, will help strengthen and expand its platform’s coverage in the “crucial Asia market,” according to Maersk.
“The addition of more leading carriers to TradeLens will help global supply chain customers expand and explore the benefits of digitization and deliver new opportunities to the increasing number of TradeLens ecosystem participants across the global supply chain,” said Vincent Clerc, Chief Commercial Officer, A.P. Moller – Maersk. “As a neutral industry platform, TradeLens offers supply chain visibility, ease of documentation and the potential of introducing new products on top of the platform. These attributes bring new opportunities for the Maersk transformation towards becoming an end-to-end container logistics company improving the experience and services we offer the customers.”
Both Hapag-Lloyd and ONE are members of THE Alliance, along with fellow members Yang Ming, NYK Group, MOL, K-Line and newly added Hyundai Merchant Marine. Maersk is a member of the 2M Alliance with MSC.
In joining the platform, 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 also be represented on the TradeLens Advisory Board.