Major carriers and terminal operators enter blockchain partnership

Big shipping industry players such as Cosco Shipping, CMA CGM and DP World have signed a letter of intent regarding a blockchain partnership. This comes in the wake of Maersk's difficulty in getting other big carriers to join its platform.

Photo: /ritzau/AP/David Goldman

A new blockchain platform is in the making in the shipping industry.

Five large liner companies and several terminal operators have signed a declaration of intent with CargoSmart Limited to create a consortium in order to establish an open platform under the name Global Business Network (GSBN), says consortium participant Yang Ming in a press statement.

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