Global Shipping Business Network’s (GSBN) blockchain-based system for digital document exchange has confirmed the first rollouts of its Cargo Release software in Latin America, starting with ports across Mexico and Panama.
The Cargo Release application offers a paperless option to connect parties involved at a port of import, including shipping lines, consignees, their agents, and terminals, with the aim of reducing the time for cargo to be document-ready for release from days to hours.
This Latin American introduction comes approximately one year after the system was first rolled out across China, followed by further deployments in Southeast Asia and Europe during the last twelve months.
“As global trade continues to face an evolving and increasingly dynamic environment, digitisation is playing a critical role in helping the shipping sector adapt,” said Bertrand Chen, CEO at GSBN.
“Mexico and Panama are strategically important locations for global supply chains, and we hope the rollout of Cargo Release will help further accelerate the digital leap the shipping sector is undergoing.”
Members of the GSBN consortium that have been involved in connecting to these new systems after their deployment at global ports include COSCO SHIPPING Lines, OOCL and Hutchison Ports.
“We are delighted to see Cargo Release spread its wings across the world following its successful debut in China a year ago, where it has slashed cargo release times from days to a matter of hours,” said Zhang Chi, Latin America/Africa Trade Division General Manager at COSCO SHIPPING Lines.
“The adoption of Cargo Release is essential to reducing the bottlenecks faced by the sector and its latest rollout in Latin America further ushers in a modern era for global trade.”