On November 6th, 2018, Yang Ming Marine Transport Corp.(Yang Ming) together with 4 other ocean carriers and terminal operators signed a Declaration of Intent with CargoSmart Limited on the formation of a consortium to establish Global Shipping Business Network (GSBN) , a blockchain-based open platform.
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Alongside with Yang Ming and CargoSmart, CMA CGM, COSCO SHIPPING Lines Co., Ltd (COSCO), Evergreen Marine Corp, Orient Overseas Container Line (OOCL) and terminal operators DP World, Hutchinson Ports, PSA International Pte Ltd and Shanghai International Port Group also participated in the project. The new platform, an ecosystem for the shipping community, will connect all stakeholders including ocean carriers, terminal operators, customs authorities, shippers and logistics providers to realize collaborative innovation and digital transformation in the supply chain.
The initial plans of GSBN is to offer new applications to reform document processes of shipping management, including documents related to hazardous cargo, invoicing and cargo release. The first prototype will be available in December and allow shippers to digitize their documents and proceed to automatically exchange data with relevant parties in the supply chain, and as a result simplify the complicated processes of documents and expedite the delivery of goods.
Yang Ming is always willing to try innovative technologies to keep up with the digital transformation of shipping industry in the collaboration with others, Yang Ming will provide more convenient and efficient quality service.