EasyShipping, a well-known international logistics service platform in China is joining forces with TradeLens – the global blockchain digital platform, to provide innovative ocean freight financing solutions for Chinese foreign trade and logistics companies.
Cross-border trading is a pillar of the global economy and supply chains are a key component to enable cross-border trading. As the current global supply chain suffers from imbalance, tight resource allocation and low efficiency, most foreign trade, and logistics companies are struggling with operational reliability to meet demand.
The traditional operating model based on paper documents, physical transmission, and centralised storage, is still widely used by the logistics industry. However, these manual based processes hinder access to efficient financing for small and medium-sized companies. This lack of access has become a huddle for the development of enterprises.
Collaboration
EasyShipping aims to utilise the ability to cross-verify the near real-time container transportation events on TradeLens Collaborating with TradeLens, EasyShipping aims to utilise the ability to cross-verify the near real-time container transportation events on TradeLens with the trusted status and location of electronic Bills of Lading recorded on the blockchain.
Innovative new digital solutions will benefit corporate credit and financial risk management processes for ocean transportation shippers, traders and logistics companies and the trade finance companies that support them.
Developing settlement of ocean freight
EasyShipping has always been committed to building a highly neutral and open international logistics service platform. EasyShipping serves all parties on the supply chain, making the entire transaction chain more efficient and user-friendly.
EasyShipping has already developed online invoicing and settlement of ocean freight and local charges in all currencies, providing a tailor-made closed-loop USD and RMB automatic settlement and verification system for large enterprises and e-commerce platforms. They have connected multiple banking services, and cover all major ports and inland cities in China.
Fastrack growth of enterprises
While this collaboration offers trading and logistics enterprises a technical solution for ocean freight financing, it also enables the commercial banks to explore product innovation and breakthroughs based on improved risk control.
EasyShipping remains committed to continuing product iteration to accelerate the growth of small and medium-sized trading and logistics enterprises. EasyShipping also plans to extend its network with well-known global shipping lines and domestic logistics service providers to launch digital booking solutions and related value-added services.
Delivering digital solutions
TradeLens to develop more digital solutions for the development of small and medium-sized enterprises Mr. Edward Ma, Founder of EasyShipping said, “We are honored to work with TradeLens to deliver the digital solution to address small and medium-sized trading and logistics enterprises’ pain point on ocean freight financing, which is a breakthrough in shipping industry of China."
"Standing at the turning point of digital transformation, we will work hand in hand with TradeLens to develop more digital solutions and use cases to empower the development of small and medium-sized enterprises.”
Adoption of digital solutions
“We are excited to work with EasyShipping on improving operational efficiency, reducing transaction risk, and promoting the access to finance for small and medium-sized enterprises."
"Continuously promoting the adoption of digital solutions for international trade means also offering best-in-class services to small and medium-sized companies allowing them to operate in more efficient ways. We look forward to developing solutions with Easyshipping on enabling this joint vision.” – Thomas Sproat, Senior Director Network Development, GTD Solution Inc and the Tradelens Platform,
