TIANJIN, CHINA, 5 JANUARY: EasyShipping, a well-known international logistics service platform in China is joining forces with TradeLens – the global blockchain digital platform, to provide innovative ocean freight financing solutions for Chinese foreign trade and logistics companies.
Cross-border trading is a pillar of the global economy and supply chains are a key component to enable cross-border trading. As the current global supply chain suffers from imbalance, tight resource allocation and low efficiency, most foreign trade and logistics companies are struggling with operational reliability to meet demand. The traditional operating model based on paper documents, physical transmission and centralized storage, is still widely used by the logistics industry. However, these manual based processes hinder access to efficient financing for small and medium-sized companies. This lack of access has become a huddle for the development of enterprises.
Collaborating with TradeLens, EasyShipping aims to utilize the ability to cross-verify the near real time container transportation events on TradeLens with the trusted status and location of electronic Bills of Lading recorded on the blockchain. Innovative new digital solutions will benefit corporate credit and financial risk management processes for ocean transportation shippers, traders and logistics companies and the trade finance companies that support them.
EasyShipping has always been committed to build a highly neutral and open international logistics service platform. EasyShipping serves all parties on the supply chain, making the entire transaction chain more efficient and user friendly. EasyShipping has already developed online invoicing and settlement of ocean freight and local charges in all-currencies, providing a tailor-made closed-loop USD and RMB automatic settlement and verification system for large enterprises and e-commerce platforms. They have connected multiple banking services, and cover all major ports and inland cities in China.
While this collaboration offers trading and logistics enterprises a technical solution for ocean freight financing, it also enables the commercial banks to explore product innovation and break throughs based on improved risk control. EasyShipping remains committed to continue product iteration to accelerate the growth of small and medium sized trading and logistics enterprises. EasyShipping also plans to extend its network with well-known global shipping lines and domestic logistics service providers to launch the digital booking solutions and related value-added services.
Mr. Edward Ma, Founder of EasyShipping said, “We are honored to work with TradeLens to deliver the digital solution to address small and medium-sized trading and logistics enterprises’ pain point on ocean freight financing, which is a breakthrough in shipping industry of China. Standing at the turning point of digital transformation, we will work hand in hand with TradeLens to develop more digital solutions and use cases to empower the development of small and medium-sized enterprises.”
“We are excited to work with EasyShipping on improving operational efficiency, reducing transaction risk, and promoting the access to finance for small and medium-sized enterprises. Continuously promoting the adoption of digital solutions for international trade means also offering best in class services to small and medium-sized companies allowing them to operate in more efficient ways. We look forward to developing solutions with Easyshipping on enabling this joint vision”. – Thomas Sproat, Senior Director Network Development, GTD Solution Inc and the Tradelens Platform,
EasyShipping is devoted to support a more efficient and low-cost operation of supply chain participants, by creatively solving the industrial pain points in the aspects of booking, value-added services, online-settlement, payment and financing. With rapid development in recent years, EasyShipping’s services now cover all major Chinese ports and some inland cities in China.
TradeLens is an open and neutral industry platform underpinned by blockchain technology, supported by major players across the global shipping industry. The platform promotes the efficient, transparent and secure exchange of information in order to foster greater collaboration and trust across the global supply chain. www.tradelens.com
Start transforming your supply chain today. Tell us a bit about yourself and the challenge you want to solve and we will contact you as soon as possible.