COSCO & GSBN Launch Blockchain Pilot For Hazardous Cargo Documentation

COSCO Shipping Lines (COSCO) and the Global Shipping Business Network (GSBN) have launched a pilot program to improve the digital sharing of documents and certifications required for the transportation of hazardous cargo.

This initiative, conducted in December 2024, was carried out in partnership with Longxing Chemical Stock Co., Ltd. (Longxing Chemical) and aims to simplify the complex documentation process while maintaining high safety standards.

Transporting hazardous materials like carbon black, a flammable substance used in rubber manufacturing, requires extensive safety certifications.

The current process involves submitting multiple documents, which can burden customers and create challenges for carriers in securely processing the information.

COSCO and Longxing Chemical are using GSBN’s blockchain-enabled infrastructure to address these issues.

Longxing Chemical provided safety certifications verified through GSBN’s network of China National Accreditation Service for Conformity Assessment (CNAS) accredited testing laboratories.

This system ensures the certifications are accurate and securely shared, making the booking and acceptance process faster and more efficient.

COSCO has been working with GSBN for over a year to digitize safe transportation certificates.

Capt. Wuzhen, Executive Deputy General Manager of COSCO’s Safety and Technology Management Division, stated that the company prioritises safety and prevention, focusing on innovative developments to ensure the safety of personnel, the environment, vessels, and cargo.

He reiterated COSCO’s commitment to speed up digitalisation and intelligent transformation while collaborating with industry partners to explore optimal safety practices for shipping.

GSBN, a neutral and not-for-profit consortium, has built an ecosystem of accredited laboratories across China to support the testing requirements of carriers and customers.

In December 2024, CVC Testing Technology, a laboratory specialising in lithium battery testing, joined GSBN as its fifth member.

Bertrand Chen, CEO of GSBN, explained that the consortium is ready to provide the framework and infrastructure needed to enhance the safe transportation of hazardous cargo by facilitating trusted information exchange.

He discussed the importance of balancing the demands of global trade with safety measures to protect crew, cargo, and the environment.

The pilot program aims to:
1. Simplify the documentation process for hazardous cargo.
2. Enhance audit efficiency by using blockchain technology.
3. Ensure proper safety certifications through a secure and reliable system.
4. Prevent incidents like fires and explosions on vessels and at terminals.

COSCO has also signed a memorandum of cooperation with Australian green technology company Fortescue in July 2024. This partnership focuses on developing low-emission shipping fuel.

Reference: Ship Technology

Source: Maritime Shipping News