(Hong Kong, 1 July 2024) – Global Shipping Business Network (GSBN), a neutral, not-for-profit consortium enabling paperless, accessible, and sustainable growth in global trade with its data infrastructure and ecosystem of partners, has announced that COSCO SHIPPING Lines has collaborated with customer, BOE Technology Group, to issue the first blockchain-certified Hi-ECO green shipping certificate over GSBN.
The development follows COSCO SHIPPING Lines’ previous announcement that it has partnered with GSBN to launch its Hi-ECO blockchain-based shipping product, which incorporates traceable and verifiable green certificates to accelerate decarbonisation in global trade.
As a global corporation, BOE is committed to environmental protection and sustainability. As companies like BOE Technology group embrace to their corporate responsibility to protect the environment, shipping companies have begun to issue green certificates to enterprises like BOE Technology Group that support the use of biofuels for product transportation.
GSBN leverages its blockchain-enabled network to establish linkage between the Proof of Sustainability (PoS) Certificate, which documents the purchase of biofuel by the carrier, and Green Certificates issued to corporations. This connection guarantees that each Green Certificate corresponds to an actual purchase of biofuel, instilling confidence in the marketplace. Furthermore, the technology enables easy verification through attestation, allowing stakeholders to validate the veracity of the claims. This enhances credibility and establishes a foundation of trust among all participants involved in the shipping process.
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About GSBN
The Global Shipping Business Network (GSBN) is a neutral, not-for-profit consortium whose mission is to enable efficient, paperless and sustainable growth in global trade with its data infrastructure and ecosystem of partners. GSBN facilitates trusted collaboration between participants across the shipping industry to enable greater efficiencies, paperless trade as well as supporting the shipping industry’s decarbonisation transition.
GSBN’s ecosystem includes shipping lines, terminals, banks, application developers and other consortia. The entire network accounts for more than half of the containers handled in the world.
About COSCO SHIPPING Lines
COSCO SHIPPING Lines is engaged in domestic and international maritime container transport services. With 503 container vessels with a total capacity of 3.08 million TEUs, COSCO SHIPPING Lines has the fourth-largest fleet in the world. Operating 403 international and domestic shipping routes covering 602 ports in 144 countries, COSCO SHIPPING Lines is committed to building a globalised and digitalised container supply chain service system, providing high-quality “End-to-End” transportation solutions for customers.
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