CEVA Logistics announces blockchain-based technology partnership with IBM and Maersk
Baar, Switzerland - 10 August 2018 - As part of CEVA's longterm digitalisation initiative, the company announces a partnership with IBM and Maersk. TradeLens - the joint solution - is based on blockchain technology and increases levels of transparency and visibility along the customers' supply chain.
CEVA constantly reviews, assesses and audits concepts in the market such as blockchain to determine how they might be applied in the company's network. Identifying applicable areas in supply chain management in order to increase value for its customers, has always been a key CEVA objective. The new partnership with IBM and Maersk is the first result of this work.
CEVA becomes one of more than 90 organisations worldwide involved in the TradeLens global solution which also includes more than 20 port and terminal operators, customs authorities and 3PLs. TradeLens enables multiple trading partners to collaborate by establishing a single shared-view of a transaction without compromising details, privacy or confidentiality. It aims to establish strong, connected networks which work to a global standard for all parties.
"This strategic partnership with IBM and Maersk provides CEVA's answer to the untapped potential of blockchain applications in the logistics industry," says Xavier Urbain, CEO of CEVA Logistics. "We see high potential in TradeLens because of the real-time access it provides to all partners in the supply chain. It is a big step forward toward establishing a market standard for blockchain solutions. With our integrated network in Freight Management and Contract Logistics, combined with our global footprint and state-of-the-art IT capabilities, we will contribute significantly to both our own digitalization strategy going forward and those of the industry," adds Urbain.
Other initiatives are in the pipeline and are currently being evaluated and expected to start delivering solutions in the coming months. In addition to this, the commercial cooperation between CEVA and its anchor shareholder CMA CGM will impact the digitalization efforts of both companies with talks already under way to discuss potential synergies.
For additional information please contact:
SVP Investor Relations
+41 41 547 0048
Group Head of Marketing and Communications
+41 41 547 00 52
Tel: +44 (0)208 941 5381
CEVA Making Business Flow
CEVA Logistics, a global asset-light third-party logistics company, designs and operates industry leading supply-chain solutions for large and medium-size national and multinational companies. Its integrated network in Freight Management and Contract Logistics spans more than 160 countries. Approximately 56,000 employees are dedicated to delivering effective solutions across a variety of industry sectors where CEVA applies its operational expertise to provide best-in-class services. CEVA generated revenue of $7 billion and adjusted EBITDA of $280 million in 2017. CEVA Logistics is listed on SIX Swiss Exchange under ticker symbol CEVA. For more information, please visit www.cevalogistics.com.