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Blockchain trade platform "TradeLens" expands in China

Maersk and IBM have started offering TradeLens, a platform for the shipping industry jointly developed using blockchain technology, in China. This was made possible after Maersk signed a partnership agreement with China Unicom Digital Tech in May. More than 10 Chinese companies have already joined the project. Although the specific company names have not been disclosed, the company says that "industry-leading Chinese companies, two port groups, and eight intermodal and inland transportation logistics companies" have joined.

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CCFI Summary week 6

Ocean freight rates increased via the West Coast of North America (+8.4%) and via the East Coast of North America (+5.8%). Decreases were seen in South Korea (-7.7% week-on-week) and Europe (-3.4%).

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