Major shipping companies launch Global Shipping Business Network

Shipping heavyweights CMA CGM, Cosco and Hapag-Lloyd are collaborating with terminal operators to launch the Global Shipping Business Network (GSBN), a not-for-profit venture to promote the development of digital technology within the industry.

CargoSmart, the technology arm of OOCL, a subsidiary of Cosco, will be providing the tech support, running pilot applications to test viability ahead of its official launch.

“The GSBN intends to provide a platform for all shipping supply chain participants to work collaboratively to accelerate technology innovation and develop solutions through trusted and secure data exchange platforms,” said Costco.

These solutions may include blockchain technology to improve transparency and efficiency for cross-network operations, with a view to bringing on board additional industry players beyond shipping lines and terminal operators.

The services agreement has been sent to antitrust regulators for clearance. Cosco said it expects the formal launch of GSBN to happen early next year.

Source: The Loadstar