Korean shipping firm Hyundai Merchant Marine (HMM), together with technology company Samsung SDS, has completed analysis of a seven-month blockchain technology assessment programme.
“The blockchain technology adopted in shipping and logistics industry has prevented alteration and forgery of import/export documents and it also minimised the issuance of paper documents, simplifying the document issuance process,” finds Samsung SDS.
The programme saw HMM experimenting with blockchain technology by conducting a pilot voyage from Korea to China (Busan to Qingdao) with reefer containers, followed by more pilot voyages in India, Middle East, and Europe.
The use of blockchain technology has improved transparency with shipping transactions by delivering import/export related documents to all related parties (shipper-carrier-customs-bank) at once, says HMM.
It also prevents any alteration or forgery of import/export documents through public-key cryptography.
“This is expected to reduce a massive amount of paperwork – such as inputting booking information and Bill of Lading – hence will improve work efficiency,” explains the company.
“Also with the integrated Internet of Things (IoT) technology, cargo status (such as location, temperature, humidity, etc) will be shared among HMM and the related parties live on-time, of which will clarify any legal dispute that may occur during the transportation of the cargo.”
Published: 3 January, 2018
Development combines Bunker Monitoring capabilities and services of Ascenz with rise-x.io’s QuayChain platform to optimise fuel expenditure and increase vessel profitability.
Color Line, Norled and the Norwegian Coastal Administration Shipping Company have trial the system.
VLOC design is optimised for trade route between North West Australia and North Asia.
3,490 mt of LSFO from Itochu Enex was lifted at Universal Terminal; the same bunker stem was bought by Global Marine Logistics and delivered by bunker tanker Juma to receiving vessel Kirana Nawa.
The 86-metre long Libas will be built with a 350 cubic metre capacity LNG fuel tank, along with a large battery pack.
Simulator design is based on Wärtsilä LNGPac and Gas Valve Unit technologies, and in accordance with the STCW requirements demanded by the international code of safety.
The bank is filing an application for pre-action discovery at the High Court of the Republic of Singapore in order to ascertain its future direction of proceedings against Sinfeng, according to court documents.
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.
