COSCO SHIPPING Signs Strategic Cooperation Agreement with Alibaba and Ant Financial to Digitalize the Shipping Supply Chain

On July 6, COSCO SHIPPING, Alibaba and Ant Financial entered into a tripartite agreement on strategic cooperation to jointly promote the cooperation on and application of shipping blockchain, and carry out in-depth cooperation based on the global shipping network in the future.


According to the agreement, COSCO SHIPPING will join hands with Ant Financial to research and promote the deployment of shipping blockchain in China. The two parties will make concerted efforts to facilitate the strategic connection of shipping, ports, logistics and finance based on the blockchain technology, and to realize data connectivity through cross chain cooperation in order to build a platform for systematic cooperation between the upstream and downstream industrial chains. In the field of international shipping and trade, the two companies will work together to continuously expand the application scenarios of shipping blockchain, start research on the basic application data format based on shipping blockchain, and promote the formulation of data standard in the related area. Moreover, they will also strengthen cooperation in intelligent shipping, intelligent ports, and supply chain finance, pushing forward the digitization of shipping operational procedures and documents. 


As the world’s biggest integrated shipping company, COSCO SHIPPING has also been actively riding the tide of digitization, while being dedicated to building a world-leading integrated supply chain service platform. Through deep integration of new technologies, such as big data, blockchain and supercomputing, with the shipping industry, it aims to promote the application of digital technology in the industry, constantly improve its service security and efficiency, and propel the digitized transformation of the industry to provide reliable digitized service for its clients.

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