Recently there was the announcement of yet another container shipment trial using blockchain. This time the parties involved were APL, Kuehne+Nagel, AB InBev and Accenture. But they are far from the only ones doing it. A sampling of similar pilots in recent months include:
And in all likelihood more is ongoing with additional carriers, forwarders, cargo owners and terminals.
Even if all these pilots prove themselves successful in achieving the targets of drastically improving documentation efficiency in the industry, it leaves a very large unanswered question: What will the future standards be? Clearly the whole idea of creating documentation efficiencies goes out the window if every carrier ends up promoting their own solutions – this would force the shippers to use 10 different blockchain solutions if they ship their cargo with 10 different carriers. And realistically, that is not a scenario the shippers are likely to buy into.
Therefore, what we are witnessing now is a battle for standards – who will emerge with a solution that best serves the commercial needs of the shipping industry as evaluated by the shippers participating. This also means that the carriers involved in these pilots need to realize that if their solution becomes the preferred one, they cannot maintain a proprietary chokehold on their solution – instead they need to make it available for the industry in order to facilitate an emerging standard. And whilst any carrier successful in doing this would likely see it as an opportunity to profit from selling such a solution to rival carriers, such an approach might very well prove self-defeating as the rivals would be hesitant to buy into such an approach – and such hesitation would in itself undermine the creation of the common standard the industry will need.
Published: 26 March, 2018
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.
Dwivedi Vivek Kumar ended his tenure as Global Head – Bitumen & Shipping & Regional Head – APAC at GP Global APAC on 10 November 2020 due to internal structuring of the GP Global Group.