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Shipping blockchain network GSBN adds Portbase, ICTSI and Westport as members

shipping trade containers

Today the Global Shipping Business Network (GSBN), the blockchain network for paperless trade, announced the addition of three new members. International Container Terminal Service (ICTSI) is the world’s largest independent port operator and joined last year. The others are Dutch port software firm Portbase and Malaysian port operator Westports.

GSBN was incorporated in 2021 as a Hong Kong-based nonprofit. Founding investors include COSCO SHIPPING LINES, COSCO SHIPPING PORTS, Hapag-Lloyd, Hutchison Ports, OOCL (COSCO owned), SPG Qingdao Port, PSA International and Shanghai International Port Group.

Deploying GSBN Cargo Release

ICTSI took just two weeks to deploy the GSBN Cargo Release offering with Contecon Manzanillo, one of Mexico’s major container terminal operators. It could potentially deploy GSBN products across 32 terminals in 19 countries.

In the Netherlands, Portbase’s Port Community System (PCS) provides communication software for logistics across containers, general cargo and bulk cargo. Integrating Portbase and GSBN allows data to flow across both networks for joint users.

This will help with GSBN Cargo Release. Releasing a container at the arrival port requires communication between the shipping line, consignees, their agents and terminals. Portbase can help with that, as much of the process has already been digitized with its software.GSBN Cargo Release adds a layer of security, preventing cargo release to unauthorized parties because digital documents are authenticated.

“By connecting with GSBN’s trust- by-design data platform on behalf of our joint users, we enable scalable, secured data exchange between the Dutch ports, their hinterland community and GSBN’s global shipping network,” said Iwan van der Wolf, CEO and Managing Director at Portbase.

COSCO SHIPPING Lines is one of GSBN’s backers and these integrations are a step forward. “The collaborative efforts, especially with partners like Portbase and global terminal operators with a strong group digital platform infrastructure such as ICTSI, offer a streamlined operational process for customers globally,” said Yan Li, Managing Director of COSCO SHIPPING Lines.

Both Portbase and ICTSI were also members of IBM and Maersk’s TradeLens shipping network, which shuttered last year.

Meanwhile, last year GSBN announced a few other important partnerships. Saudi Aramco’s SABIC started using GSBN for electronic bills of lading (eBL). Japanese shipping carrier ONE joined the network, adding to the existing carriers COSCO Shipping Lines, Hapag Lloyd and OOCL. Additionally, GSBN partnered with China’s fintech giant ANT to tokenize eBLs.