Today, Maersk announced that the Dubai-based port operator and logistics company DP World has completed the initial integration with the TradeLens blockchain container shipping platform. TradeLens is jointly developed by IBM and Maersk and is currently in production.
DP World specializes in cargo logistics, port terminal operations, maritime services, and free trade zones. The company’s terminals handled 71.2 million TEU containers in 2019. It aims to connect all its 82 marine and inland container terminals, feeder companies, and logistics divisions with TradeLens. It is already using the blockchain platform for the Cochin Port in India.
TradeLens is digitizing the container shipping industry to enable transparency and increase trade speed. The platform integrates IoT devices to monitor container cargo and track their movement. TradeLens brings together cargo owners, freight forwarders, rail and trucking providers, ports, terminals, ocean carriers, customs, and other government authorities onto a single platform.
“DP World is working to deliver integrated supply chain solutions to cargo owners, backed by our global network of ports, terminals, economic zones and inland operations. By working with TradeLens we will accelerate the digitisation of global trade,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
At the time of publishing, TradeLens had processed 23 million containers. It is currently integrated with 110 ports and terminals, and over 15 customs authorities.
“The broadened geographic scope of the platform provides new opportunities for TradeLens ecosystem participants to innovate and develop digital offerings on the platform,” said Vincent Clerc, CEO of Ocean and Logistics, A.P. Moller – Maersk.
TradeLens has five of the top six ocean carriers as members, which represent over half of the world’s container cargo capacity.
There is another blockchain initiative for the shipping industry, the Global Shipping Business Network (GSBN) consortium. When the GSBN was first unveiled, DP World was a partner. But the company was missing from the latest GSBN announcement re its intention to incorporate.