Maersk to Trial TradeLens Platform in Russia

maersk freight cargo
Photo credit: Maersk

A.P. Moller – Maersk has reached deal with the Russian Ministry of Transport to launch its blockchain-based TradeLens platform in Russia.

The agreement, signed by Maersk CEO Søren Skou and Yuriy Tsvetkov, Deputy Transport Minister and Head of Federal Maritime and River transport Agency, will allow Maersk to implement TradeLens to the Russian market with the aim of digitizing the supply chain process from end to end, eliminating more costly paper-based documentation.

The MoU calls for a pilot of the platform that will include the Port of St. Petersburg, Russia’s main container port.

The deal with Russia comes on the heels of MSC and CMA CGM, two of the world’s leading shipping companies, signing up for the platform in May. The addition of the MSC and CMA CGM, the world’s second and fourth largest carriers by TEU capacity, respectively, was viewed as a major success of the platform considering its success ultimately depends on widespread industry participation.

Maersk launched TradeLens in 2018 in collaboration with IBM. To date, more than 100 companies, port authorities, and other entities have joined the network.

“With the St. Petersburg launch, TradeLens gains significant presence in Russia,” Maersk said in a press release. “The platform aims to significantly facilitate the interaction between shippers and various regulatory and administrative bodies in the country, ultimately increasing the speed of cargo clearance and movement of goods across borders. TradeLens enables participants to connect, share information and collaborate across the container logistics supply chain ecosystem. Members gain a comprehensive view of their data and can digitally collaborate as cargo moves around the world, helping create a transparent, secured, immutable record of transactions.”