Wednesday 20th Sep, 2017

Blockchain to bring shipping into the 21st Century

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MAERSK Line Oceania managing director, Gerard Morrison, says ‘Blockchain’ technology will help take shipping into the 21st century.

Mr Morrison was a panellist who spoke at a Shipping Australia breakfast at the Sofitel on Collins hotel in Melbourne this week.

“The implications from the technology and the possibilities that it presents are, at least in my mind, infinite. I don’t think anyone really has been able to quantify how far it can go and what it can do,” the Maersk executive told the gathering.

“But it can certainly drastically change the environment we work in.”

He said they were working with IBM to find ways of reducing costs and streamline supply chains, including documentation processes.

“Anyone who has worked in the shipping industry would probably say, ‘documentation processes are a little bit antiquated’.

“They haven’t been digitalised quite as much…. I think we are a little bit behind when it comes to digitalising our businesses,” Mr Morrison said.

“We’ve made some really good progress with the more traditional e-Commerce tools. But honestly, I think it’s time to bring shipping into the 21st Century.”

The session also included presentations from Commonwealth Bank Blockchain specialist Sophie Gilder and Port of Melbourne chief executive Brendan Bourke.

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