Today CargoSmart announced that three of the five world’s biggest container shippers have signed formal service agreements to participate in the Global Shipping Business Network (GSBN) blockchain. The shipping companies are COSCO, CMA CGM, Hapag-Lloyd and COSCO owned OOCL. For ports they have signed COSCO SHIPPING Ports, Hutchison Ports, Port of Qingdao, PSA International and Shanghai International Port Group. CargoSmart acts as the technology provider.
The intention to form the consortium was first
announced eight months ago when two additional top ten shippers, Evergreen and Yang Ming, were included. A spokesperson for CargoSmart told Ledger Insights that “this time Evergreen and Yang Ming are not the signatories.”
CMA CGM, Hapag-Lloyd and PSA International are also participants in IBM and Maersk’s
TradeLens blockchain platform.
| Shipper |
Capacity (TEU) |
Network member |
| APM-Maersk |
4,087,480 |
TradeLens |
| MSC |
3,308,955 |
TradeLens |
| COSCO |
2,792,448 |
GSBN |
| CMA-CGM |
2,643,745 |
TradeLens, GSBN |
| Hapag-Lloyd |
1,644,565 |
TradeLens, GSBN |
| ONE |
1,521,702 |
TradeLens |
| Evergreen Line |
1,219,406 |
GSBN |
| Yang Ming |
627,725 |
GSBN |
| Hyundai |
424,724 |
Neither |
| PIL |
420,039 |
TradeLens |
| ZIM |
324,000 |
TradeLens |
Like TradeLens, the GSBN aims to digitize global shipping to make it more efficient and provide greater visibility and transparency.
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