Earlier this week, logistics tech firm CargoSmart announced that nine global ocean carriers and terminal operators signed a shareholders’ agreement for the Global Shipping Business Network (GSBN). With this, the blockchain shipping consortium comes a step closer to an official launch after first unveiling in November 2018.
The firms who expressed their intention to become shareholders include CMA CGM, COSCO SHIPPING LINES, COSCO SHIPPING Ports, Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International, and Shanghai International Port Group (SIPG). All of the signatories are existing members of the GSBN consortium.
Clearly, the group is particularly strong in Asia and also boasts all three of the world’s largest port operators. That’s a major advantage given that nine out of ten of the largest container ports in the world are in Asia.
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