Global Shipping Business Network (GSBN), an independent technology consortium welcomes the New Land-sea Corridor Operation Co Ltd, (NLSC) as a new member.
The New International Land-Sea Trade Corridor (ILSTC) is a major trade and logistics passage established jointly by China and ASEAN members.
NLSC operates a pan-regional integrated transportation platform which orchestrates the transportation network between shipping ports in the east and south of China with the rest of Asia and Europe.
GSBN said NLSC aims to facilitate transportation and trade between countries that are part of the Regional Comprehensive Economic Partnership (RCEP).
Earlier, in May 2023, NLSC and COSCO Shipping Lines deployed GSBN’s Cargo Release in the Port of Chongqing, a dry port along the trade corridor.
In particular, Cargo Release is a paperless solution that connects everyone involved at the port of import including shipping lines, consignees and terminals, shortening the release procedure from 1-2 days to less than 4 hours.
Following its membership to GSBN, NLSC will embark on a Proof of Concept using blockchain technology to streamline the recognition of its House Bill of Lading with Master Bills of Lading issued by carriers to generate value for stakeholders across the supply chain.
Bertrand Chen, CEO of GSBN, commented, “To fully unlock the potential of new trade partnerships and routes, it is important to embrace digital technology and empower even more stakeholders across the supply chain. For instance, solutions like electronic Bill of Lading can extend to cover House Bill of Lading and many other downstream workflows.”