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Cosco Shipping Ports investing $225m in Peru's Chancay terminal.

PortGraphic: The impact of COVID-19 to Chinese Cosco Shipping ports.

The shipping market involves multiple stakeholders, including cargo owners, shipping companies, and maritime authorities. To prevent issues such as information concealment and privacy breaches, these stakeholders often establish complex and multi-layered data exchange processes, which significantly reduce the operational efficiency of the shipping market. Decentralized blockchain technology can prevent data tampering, thereby establishing an effective consensus mechanism among multiple parties. This paper first summarizes the application scenarios of blockchain technology in the shipping market, including supply chain management, smart contracts, port management, crew management, marine insurance, and environmental protection. Subsequently, using real-world cases such as TradeLens, CargoX, COSCO SHIPPING Hi ECO, and Insurwave, the advantages of blockchain technology in enhancing shipping efficiency and reducing costs are elaborated. Finally, the challenges of applying blockchain technology in the shipping market, from both technical and regulatory perspectives, are outlined.

China Ocean Shipping (Group) Company said its ships anchored at Tianjin port were not affected by the blasts at a warehouse in the country's northeastern city last week, though some of its facilities in the area suffered varying levels of damage.

A COSCO containership recently crashed into a gantry crane at the Suez Canal Container Terminal (SCCT) at Egypt's Port Said, causing major damage, according to gCaptain.

Three Chinese Container Terminals to Merge.