Global Shipping Business Network (GSBN), a not-for-profit technology consortium dedicated to building a blockchain-enabled operating system designed to modernise global trade, is now rolling out Cargo Release to Southeast Asian ports in Hong Kong, Singapore and Laem Chabang in Thailand.

Cargo Release offers a highly efficient and transparent solution, removing the need for physical exchanges of paper documentation and reducing the time needed for cargo to be document-ready for release from days to hours. For the terminals and their port users, the Cargo Release feature will allow the terminals to receive the ‘electronic delivery order’ via the GSBN blockchain to enable seamless processing of the container release.

PSA International Group Cargo Solutions / Platform Development Vice President Eddie Ng said, “Digital transformation is absolutely fundamental to the future of trade in Asia. As a founding partner of GSBN, PSA is pleased to support GSBN’s expansion into Southeast Asia. Cargo Release is a digital solution that has the potential to drive new efficiencies and support the region’s status as a thriving global trading hub. More importantly, Cargo Release demonstrates the value of trusted and secure sharing of data between supply chain ecosystem partners, and we look forward to participating in and supporting more of such initiatives.”

As part of its efforts to modernise global trade, GSBN also recently signed a Memorandum of Understanding with eight major shipping port groups in China, garnering support from China’s Ministry of Transport and China Port Association to accelerate the digital transformation of the shipping and logistics industry.