Hapag-Lloyd and Ocean Network Express set for TradeLens agreement

The Germany-based company, Hapag-Lloyd, and Japan’s Ocean Network Express (ONE) has signed onto TradeLens, according to Supply Chain Dive.

TradeLens, which is the blockchain platform for ocean shipping established by A.P. Moller, Maersk and IBM, includes approximately 60% of global shipping volume, based on data from Alphaliner. The platform is already underway in Russia as Maersk has begun to introduce the technology at a new cold-storage warehouse in St. Petersburg.

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Hapag-Lloyd and ONE is set to link up with the TradeLens advisory board and operate its own blockchain nodes, which will participate in verifying and validating transactions. Members will be granted access to a “comprehensive view of their data and can collaborate as cargo moves around the world,” according to a press release.

In November, the future of the platform was uncertain when nine major ocean carriers and terminal operators agreed to develop a blockchain platform known as the Global Shipping Business Network (GSBN). Following its launch, the network had more carriers on its books than TradeLens, which included the third and fourth ranking lines worldwide.