In our previous post “No plain sailing”, we covered how TradeLens was struggling to sign up competitors to its blockchain based shipping platform. Looks like things are moving south for them as nine major ocean carriers and terminal operators signed a formal statement to develop a blockchain platform called the Global Shipping Business Network (GSBN), with the aim of increasing efficiency and transparency using distributed ledger technology.
The participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port. The new platform will establish a digital baseline that aims to connect all stakeholders, including carriers, terminal operators, customs agencies, shippers, and logistics service providers to enable collaborative innovation and digital transformation in the supply chain.
Ownership seems to be a significant factor in getting competitors to sign up together. With five carriers, the GSBN may have a better shot at moving forward in a meaningful way.