Maersk, IBM to Help Digitize Supply Chain for Shipping

Image Courtesy: Maersk Line

Danish shipping giant Maersk and American technology company International Business Machines Corporation (IBM) plan to develop a blockchain solution to help digitize the global supply chain for the shipping industry. 

The duo intends to work with a network of shippers, freight forwarders, ocean carriers, ports and customs authorities to build the new solution, which is expected to go into production later this year.

As disclosed, the solution is expected to reduce fraud and errors, reduce the time products spend in the transit and shipping process, improve inventory management and reduce waste and cost.

“We are excited about this cooperation and its potential to bring substantial efficiency and productivity gains to global supply chains, while decreasing fraud and increasing security,” Ibrahim Gokcen, Chief Digital Officer, Maersk, pointed out.

For shippers, the planned solution can help reduce trade documentation and processing costs and help eliminate delays associated with errors in the physical movement of paperwork. It can also provide visibility of the container as it advances through the supply chain, according to IBM.

For customs authorities, the solution is intended to give real-time visibility, improving the information available for risk analysis and targeting, which may eventually lead to increased safety and security as well as greater efficiency in border inspection clearance procedures, IBM explained.

“We believe that this new supply chain solution will be a transformative technology with the potential to completely disrupt and change the way global trade is done,” Bridget van Kralingen, Senior Vice President, Industry Platforms, IBM, said.

The solution enables the real-time exchange of original supply chain events and documents through a digital infrastructure that connects participants in a supply chain ecosystem. Developed by Maersk and IBM, the solution is based on the open source Linux Foundation’s Hyperledger Fabric.

An industry standard API for the centralized sharing of data and shipping information via the cloud was originally conceived by Frank Heijmann, Head of Trade Relations, Customs Administration of the Netherlands, and David Hesketh, Head of Customs Research and Development, HM Revenue and Customs. In cooperation with the European Commission services, it was further developed under the EU FP7 CORE demonstrator project.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >