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Global Shipping Business Network (GSBN) Counts Down to Inauguration

HONG KONG — 27 February 2020 — CargoSmart Limited, a leading logistics technology solutions provider, today announced that nine industry-leading ocean carriers and terminal operators, namely CMA CGM, COSCO SHIPPING LINES, COSCO SHIPPING Ports, Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International, and Shanghai International Port Group (SIPG), have signed a shareholders’ agreement indicating their intention to become shareholders of the proposed Global Shipping Business Network (GSBN). The signing of the agreement symbolized the fortified cooperation among the consortium as well as the conclusion of an important step towards the GSBN’s official establishment. Once all regulatory approvals have been obtained and the GSBN is formed, it will lead the development of innovative applications to create value to stakeholders in the supply chain.


The shareholders’ agreement for the nine shareholders of the GSBN confirms the consortium’s governance structure and nature of the business. The GSBN will be established as a not-for-profit organization that operates and facilitates a secure and trusted data exchange platform for all stakeholders along the supply chain. The consortium will nurture community participation and introduce a wide range of innovative services and applications to streamline operation processes and overall efficiency. To support this vision, CargoSmart will be the technology solutions provider and platform operator for the GSBN.

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