Cargo Release is a blockchain-enabled application that provides a paperless and transparent solution that connects everyone involved at the port of import, including shipping lines, consignees, their agents and terminals, shortening the time for cargo to be ready for documents to issue by day to hour.
Because of their proximity to North and Latin American markets, Mexico and Panama are strategically important ports for global trade, with Panama and Mexico among the top ten countries in terms of the number of port terminals.
The latest announcement marks the first anniversary of the cargo launch, which first appeared across China in 2021 and has since followed successful deployments in Southeast Asia, Europe and most recently Latin America, serving over 10,000 customers to date.
“As global trade continues to face an evolving and increasingly dynamic environment, digitization is playing a critical role in helping to adapt the shipping sector. Mexico and Panama are strategically important locations for global supply chains and we hope that the cargo release will help further accelerate the digital leap that the shipping sector is undergoing,” said Bertrand Chen, CEO at GSBN.
Included in the launch are Cosco Shipping Lines, OOCL and global port operator Hutchison Ports.
“[Hutchison Ports is a] company dedicated to pioneering innovation and modernized ports, we are proud to be one of the founding members of GSBN which continues to grow from strength to strength. This is important at a time like now when the shipping sector is undergoing a digital revolution and needs ready-made solutions that address real-world challenges. From Southeast Asia to Europe, we look forward to extending the proven benefits of cargo release to our customers in Latin America,” said Carlos Del Castillo, COO at Hutchison Ports Mexico.
FJared Zerbe, CEO at Hutchison Ports Panama, commented: “Launching the release of cargo for our customers in Panama is key to our culture of innovation and customer service. As a founding member of GSBN, we are proud to be a part of this announcement, especially at a time when process digitization has become a key factor in improving transport chain transparency and process efficiency.”
“The approval of cargo release is essential to reduce the barriers faced by the sector and its recent expansion into Latin America further ushers in a modern era for global trade,” explained Zhang Chi, General Manager of the Americas Trade Division. Latin/Africa at Cosco Shipping Lines.
