CMA CGM, MSC join blockchain-enabled TradeLens

May 30, 2019: Container carriers CMA CGM and MSC Mediterranean Shipping Company (MSC) have joined blockchain-enabled digital shipping platform TradeLens (www.tradelens.com).

Rajesh Krishnamurthy, executive vice president, IT & transformations, CMA CGM Group said that the network was already showing that participants from across the supply chain ecosystem can derive significant value.

According to a press release, “blockchain establishes a shared, immutable record of all the transactions that take place within a network and enables permissioned parties access to trusted data in real time.”

TradeLens, which currently has 100 participants, enables them to connect, share information and collaborate across the shipping supply chain ecosystem. The platform, which gives real-time ownership rights and permissioned access to shipping data while also committing to ensure privacy and confidentiality, is jointly developed by A.P. Moller - Maersk and IBM.

André Simha, chief digital & information officer, MSC predicted that the TradeLens platform has enormous potential to spur the industry to digitize the supply chain and build collaboration around common standards.