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Cosco, SIPG and Tesla in blockchain test(Lloyd's list)

Date:2020-04-07 Read times: font size:[ L M S ]

Cosco Shipping Lines and Shanghai Port International Group, two of GSBN’s members, have conducted a real-time exchange of shipment data with the US electric car maker through blockchain technologies.

Tesla was able to pick up its cargo in a timely manner as CSL shared its waybill data with the terminal on a trusted and secure platform, allowing faster preparation of orders delivery for consignees and their shipping agents, said the platform operator CargoSmart.

“The pilot project was designed to minimise consignee and shipping agent verification steps with their ocean carriers in order to speed up the release of sea waybills.

“As a result, truckers are able to pick up their cargo at the terminal faster, helping shippers meet delivery windows and ensure that service quality and customer commitments are met.”

Last month, the application was enhanced to display laden gate out, appointment date, and terminal release, providing shippers with greater visibility of their cargoes.

Wu Yu, head of business process and system division of CSL, said: “The pilot with SIPG and CargoSmart showcased significant efficiency gains not only in the cargo release process, but also for downstream supply chain planning by presenting a single source of truth for documentation for all involved parties.”

CargoSmart added it planned to expand the pilot project with more carriers at other ports, such as Xiamen, Qingdao and Laem Chabang.

In late February, members of GSBN signed an agreement indicating their intention to become shareholders of the blockchain-based shipping platform, which is still pending regulatory approvals for formal establishment.

The nine signatories are CMA CGM, Cosco Shipping Lines, Cosco Shipping Ports, Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International and Shanghai International Port Group.

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