COSCO SHIPPING Lines Promotes Contactless Pickup of Imported Goods with Blockchain Technology

July 1, 2020 (Press Release) - Recently, in cooperation with Qingdao Port under Shandong Port Group, COSCO SHIPPING Lines launched a program of digital, contactless pickup of imported goods based on blockchain technology, bringing a new level of convenience to customers. So far, through paperless release of imported goods, the company has completed the release of 500 containers at Qingdao Port. On average, each container has saved nearly 24 hours of pick-up time for customers.

For this purpose, COSCO SHIPPING Lines and Qingdao Port have made adequate preparations. Previously, according to the requirements of carriers and ports, customers were required to prepare paper documents for picking up goods and complete pickup procedures at their respective service windows. Nowadays, with the help of traceable and trustworthy blockchain technology, carriers and ports have achieved data interconnection between systems and collaboration and mutual trust between processes. By doing so, customers who import goods can experience streamlined operation procedures of carriers and ports on the blockchain at once and pick up goods in a shorter amount of time.

Since the program was launched in November 2019, COSCO SHIPPING Lines has promoted it at a number of ports in China, and provided easy paperless pickup service for customers with sea waybills and telex release B/L. For the future, through technology-enabled innovations, the company will expand the practice to more ports and offer customers improved services.

About COSCO SHIPPING

The total fleet of COSCO SHIPPING comprises of 1330 vessels with a capacity of 107.10 million DWT, ranking No.1 in the world. Its container fleet capacity is 2.99 million TEU, ranking the third in the world. Its dry bulk fleet (446 vessels/42.78 million DWT), tanker fleet (206 vessels/26.30 million DWT) and general and specialized cargo fleet (148 vessels/4.25 million DWT) are all topping the world’s list.

SOURCE: COSCO SHIPPING