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Dec 30, 2023

ONE joins GBSN after trial of blockchain platform

Other members of the Global Shipping Business Network include COSCO shipping,

Other members of the Global Shipping Business Network include COSCO shipping, Hapag-Lloyd and OOCL.

Ocean carriers are taking several steps to digitize shipping processes.

In February, nine ocean carriers — including ONE — committed to transitioning from paper bills of lading to electronic ones as part of the Digital Container Shipping Association.

"With digitisation gaining ground ever faster, it is important that the maritime industry continues to evolve and adapt by embracing new global standards and transaction efficiency," ONE CEO Jeremy Nixon said in a statement.

The GSBN is making a similar push, promising to use its platform to break down data silos. Currently, the company's Cargo Release platform services more than 10,000 customers, according to GSBN's website.

"The shipping industry is at a critical moment in time where digitalisation has the potential to enable a quantum leap," GSBN CEO Bertrand Chen said in the press release. "What's needed to make this a success is trusted collaboration."

Shipping lines have tried to digitize processes before. Maersk and IBM once partnered to commercialize a blockchain platform, Tradelens, but a lack of commercial viability led the companies to shutter the initiative last year.

Edwin Lopez contributed to this story.