Global Shipping Business Network (GSBN), an independent, not-for-profit technology consortium building a blockchain-enabled operating system to enhance global trade, has rolled out Cargo Release in Latin America, starting with ports across Mexico and Panama, says an article published in Digital Ship.
Blockchain-Enabled Application
Cargo Release is a blockchain-enabled application offering a paperless, highly efficient, and transparent solution connecting everyone involved at the port of import including shipping lines, consignees, their agents, and terminals.
This product cuts the time for cargo to be document-ready for release from days to hours.
The First Anniversary
The latest announcement marks the first anniversary of Cargo Release which was first rolled out across China in 2021 and has since followed successful deployments across Southeast Asia, Europe and most recently Latin America, serving over 10,000 customers to date.
Evolving Digitisation
Bertrand Chen, CEO at GSBN, said: “As global trade continues to face an evolving and increasingly dynamic environment, digitisation is playing a critical role in helping the shipping sector adapt.
Mexico and Panama are strategically important locations for global supply chains, and we hope the rollout of Cargo Release will help further accelerate the digital leap the shipping sector is undergoing.”
Involved Companies
Involved in the rollout are COSCO Shipping Lines, OOCL and global port operator Hutchison Ports.
Modern Era For Global Trade
Zhang Chi, Latin America/Africa trade division general manager at COSCO Shipping Lines, said: “We are delighted to see Cargo Release spread its wings across the world following its successful debut in China a year ago where it has slashed cargo release times from days to a matter of hours.
The adoption of Cargo Release is essential to reducing the bottlenecks faced by the sector and its latest rollout in Latin America further ushers a modern era for global trade.”
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Digital Ship
