The CMA CGM Group, a global player in maritime, land, air and logistics solutions, is pleased to sign a Memorandum of Understanding with consortium partnersto drive the seamless interoperability of electronic bills of lading (eBL). The consortium partners are CargoX, eTEU, ICE and SGTraDex.
The initiative leverages TradeTrust, a framework developed by the Infocomm Media Development Authority (IMDA) of Singapore for electronic transferable records, using blockchain technology. Together with the consortium partners, the move aims to accelerate the digitalization of container trade.
The collaboration will involve the formation of a joint working group comprising representatives from CMA CGM, IMDA and the consortium partners. The working group will oversee various work streams and trials, including:
- Assessing technical, legal, and business feasibility for TradeTrust enabled interoperability between eBL platforms.
- Developing and conducting pilot trials in compliance with the UNCITRAL Model Law on Electronic Transferable Records (MLETR).
Bo Wegener, Chief Executive Officer, CMA CGM Asia Pacific, said: “CMA CGM is pleased to support this initiative reflecting our commitment to advance sustainable and secure digital trade. We look forward to contributing our expertise and the close collaboration with our partners to ensure the success of the trials.”
Johnson Poh, Assistant Chief Executive, Infocomm Media Development Authority, said: “We are encouraged that CMA CGM and other leading players in this space have chosen to explore TradeTrust as their framework for seamless interoperability of electronic bills of lading at scale. We are committed to support this initiative through sharing our expertise and driving collaboration with the consortium.”
Source: CMA CGM
