The Eleonora Maersk at APM Terminals. Photo: APM Terminals
The Port of Los Angeles, North America’s top port for containerized cargo, has announced an agreement to join the blockchain-based digital shipping platform Tradelens.
Tradelens was launched in 2018 as part of a collaboration involving by IBM and Maersk, the world’s leading shipping company. The blockchain-based platform, which is heavily dependent on widespread industry participation, is meant to digitize manual and paper-based systems across the supply chain.
Since its launch the platform has steadily added more than 100 shipping companies, port authorities, and other entities. Its network currently includes shipping giants including Maersk, CMA CGM, MSC Mediterranean Shipping Co., Hapag-Lloyd, Ocean Network Express (ONE), ZIM and others.
“TradeLens allows carriers and cargo owners to not only exchange transaction information in real time, but also send trade documents to each other,” according to Tradelens’ website. “Blockchain technology helps to reduce the processing time of paper documents, making it faster and easier to issue bills of lading for cargo, sanitary certificates, invoices for payment and other types of documentation.”
Earlier this year Port of Los Angeles Executive Director Gene Seroka said the port is working to accelerate its digital transformation, including exploring end-to-end supply chain data integration with leading blockchain providers.
The Port of Los Angeles announced its agreement with Tradelens in a string of Tweets on Tuesday afternoon.
“Establishing digital connectivity with global platforms expands supply chain capabilities. The Port of Los Angeles looks forward to its relationship with #TradeLens in further embarking on a digitally connected world,” one of the tweets reads.
(1/3) The Port of Los Angeles’ digital connections are expanding resulting from a new agreement with #TradeLens, a blockchain-based digital container logistics platform, jointly developed by @Maersk and @IBM. https://t.co/AbiYDnI9p8 pic.twitter.com/I2ODfiz55m
— Port of Los Angeles (@PortofLA) September 1, 2020
Additional details of the ports agreement with Tradelens were not immediately available.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,835 members that receive our newsletter.
Have a news tip? Let us know.
By Dimitri Rhodes Nov 7 (Reuters) – Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results...
In a bold move amidst Russia’s intensified rocket attacks on civilian ships and Ukrainian ports, Maersk has launched a new weekly container service into Ukraine, signaling resilience in the country’s...
By Robert Tuttle (Bloomberg) A tanker of Canadian crude was shipped from Vancouver to Alaska for the first time in at least 10 years as the recently expanded Trans Mountain pipeline...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 109,835 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
