TradeLens platform extends reach into China

Maersk and China Unicom have formed a partnership to commercialise TradeLens, a blockchain-based container logistics platform, in China.

China Unicom Digital Tech, a subsidiary of the state telecommunications giant, will host and operate the Maersk/IBM developed digital platform on the Chinese mainland, making it available to exporters and importers alongside other supply chain partners.

“The China market is huge,” said Maersk, the world’s largest liner shipping carrier that wants to become an integrated logistics player.

According to its estimates, one in three export containers globally originates from China and one in six imported containers is destined for the country.

The partnership would further enhance the global network of TradeLens services, which aim to replace manual and paper-based documents with blockchain enabled digital solutions, said Maersk.

The system now includes direct integrations with more than 300 organisations, including more than 10 ocean carriers, and encompasses data from over 600 ports and terminals.

It has also tracked more than 35m container shipments and about 16m published documents.

“The industry has reached another important milestone with TradeLens now live in China, an economy at the centre of the world’s largest trade lanes,” said Caroline Wu, Maersk’s managing director of Greater China.

“Our customers need enhanced visibility more than ever to drive efficiency and resilience and they require digital solutions to handle trade documents to help reduce the disruptions created by the global pandemic.”

Haifeng Chen, vice-president of China Unicom Digital Tech said the partnership that prompts the digital transformation in shipping and logistics industry fits into the country’s “dual circulation development pattern”.

“By joining force with TradeLens, we may optimise our strength on cyber security, data security and transaction security,” he said.