Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

GSBN advances testing of electronic bills of lading

Consortium will work with Hong Kong Monetary Authority’s Project Ensemble to enable paperless shipping data exchange.

GSBN ac729f_aa1e1ffe99654267a34d1431cf60ed68~mv2.jpeg
DC Velocity Staff
By DC Velocity StaffSep 03, 2024
DC Velocity Staff
See Full Bio

Global Shipping Business Network (GSBN), a not-for-profit consortium enabling paperless shipping data exchange, has joined the Hong Kong Monetary Authority’s (HKMA) Project Ensemble in a move to accelerate the use of electronic Bill of Lading (eBOL) technology.

Specifically, the move allows Hong Kong-based GSBN to test its eBOL tokenization use case with Ant Digital Technologies, and to conduct interbank atomic settlement of tokenized deposits between the Hongkong Shanghai Banking Corporation (HSBC) and Hang Seng Bank (Hang Seng).

Project Ensemble is a new wholesale Central Bank Digital Currency (wCBDC) initiative established by the HKMA to encourage use cases from all sectors to build innovative financial market infrastructure (FMI) that enables the settlement of tokenised money and real-world assets (RWA) via a wCBDC.

Under Project Ensemble, eBLs are issued over GSBN’s blockchain infrastructure which also facilitates trade finance activities between corporates and financial institutions. These eBLs are tokenised by Ant Digital Technologies and wrapped on their own blockchain to enable trade finance payments to flow through via tokenised deposit and wCBDC.

The move comes as GSBN continues to forge an ecosystem of partners with global shipping lines, including COSCO Shipping Lines, OOCL, Hapag-Lloyd, and banks to issue eBLs over GSBN’s platform to offer greater efficiency, visibility, and potential financing opportunities to the customer. To date, over 14,000 customers have been onboarded globally and more than 300,000 eBLs have been issued and transferred on GSBN.

In another recent advance of that plan, GSBN in April said that the maritime freight carrier MSC Mediterranean Shipping Company would use its network to enhance safety in shipping lithium ion battery shipments.

Other recent eBOL initiatives include platforms available from supply chain visibility provider Project44, third party logistics provider C.H. Robinson, the National Motor Freight Traffic Association (NMFTA)’s Digital LTL Council, and an industry cooperative called the Scheduling Standard Consortium (SSC).





 

 

ArticleTechnologyEditorial
gsbn
ArticleTechnologyEditorial
gsbn

The Latest

packaging supplies plastic films
Article

Innotex Packaging launched from merger of three companies

More Stories

Stampin’ Up!’s Riverton, Utah, distribution center

Stampin’ Up!’s Riverton, Utah, distribution center

Picking reimagined

What happens when your warehouse technology upgrade turns into a complete process overhaul? That may sound like a headache to some, but for leaders at paper crafting company Stampin’ Up! it’s been a golden opportunity—especially when it comes to boosting productivity. The Utah-based direct marketing company has increased its average pick rate by more than 70% in the past year and a half. And it’s all due to a warehouse management system (WMS) implementation that opened the door to process changes and new technologies that are speeding its high-velocity, high-SKU (stock-keeping unit) order fulfillment operations.

The bottom line: Stampin’ Up! is filling orders faster than ever before, with less manpower, since it shifted to an easy-to-use voice picking system that makes adapting to seasonal product changes and promotions a piece of cake. Here’s how.

Keep ReadingShow less

Featured

siemens logistics airport buggage
Airports & Infrastructure

Vanderlande to acquire Siemens Logistics for $325 million

Jeremy Van Puffelen of Prism Logistics
Article

InPerson interview: Jeremy Van Puffelen of Prism Logistics

Digital truck
Article

How digital twins can transform trucking operations

Ashray Lavsi
Article

What happens to global supply chains if China attacks Taiwan? An interview with Ashray Lavsi

Palmer's product on the line.
Article

Streamlining supply lines

autostore AS/RS at toyota materal handling site

New AutoStore AS/RS at Toyota Material Handling’s DC will increase parts volume and fulfillment speed

With its new AutoStore automated storage and retrieval (AS/RS) system, Toyota Material Handling Inc.’s parts distribution center, located at its U.S. headquarters campus in Columbus, Indiana, will be able to store more forklift and other parts and move them more quickly. The new system represents a major step toward achieving TMH’s goal of next-day parts delivery to 98% of its customers in the U.S. and Canada by 2030, said TMH North America President and CEO Brett Wood at the launch event on October 28. The upgrade to the DC was designed, built, and installed through a close collaboration between TMH, AutoStore, and Bastian Solutions, the Toyota-owned material handling automation designer and systems integrator that is a cornerstone of the forklift maker’s Toyota Automated Logistics business unit. The AS/RS is Bastian’s 100th AutoStore installation in North America.

TMH’s AutoStore system deploys 28 energy-efficient robotic shuttles to retrieve and deliver totes from within a vertical storage grid. To expedite processing, artificial intelligence (AI)-enhanced software determines optimal storage locations based on whether parts are high- or low-demand items. The shuttles, each independently controlled and selected based on shortest distance to the stored tote, swiftly deliver the ordered parts to four picking ports. Each port can process up to 175 totes per hour; the company’s initial goal is 150 totes per hour, with room to grow. The AS/RS also eliminates the need for order pickers to walk up to 10 miles per day, saving time, boosting picking accuracy, and improving ergonomics for associates.

Keep ReadingShow less
US Bank truck shipments Q3

U.S. Bank: truck freight shipments and spending slow their decline

Truck freight shipments and spending continued to contract in the third quarter, albeit at a slower pace than earlier this year, according to the latest U.S. Bank Freight Payment Index.

“The latest data continues to show some positive developments for the freight market. However, there remain sequential declines nationwide, and in most regions,” Bobby Holland, U.S. Bank director of freight business analytics, said in a release. “Over the last two quarters, volume and spend contractions have lessened, but we’re waiting for clear evidence that the market has reached the bottom.”

Keep ReadingShow less
nimble smart robots for fedex

FedEx picks Nimble for fulfillment automation

Parcel giant FedEx Corp. is automating its fulfillment flows by investing in the AI robotics and autonomous e-commerce fulfillment technology firm Nimble, and announcing plans to use the San Francisco-based startup’s tech in its own returns network.

The size of FedEx’s investment wasn’t disclosed, but the company was the lead investor of Nimble’s $106 million “series C” funding round, announced last week. The round was co-led by existing shareholder Cedar Pine LLC.

Keep ReadingShow less

Logistics gives back: October 2024

For the past seven years, third-party service provider ODW Logistics has provided logistics support for the Pelotonia Ride Weekend, a campaign to raise funds for cancer research at The Ohio State University’s Comprehensive Cancer Center–Arthur G. James Cancer Hospital and Richard J. Solove Research Institute. As in the past, ODW provided inventory management services and transportation for the riders’ bicycles at this year’s event. In all, some 7,000 riders and 3,000 volunteers participated in the ride weekend.


Keep ReadingShow less
Copyright ©2024.