Maersk and IBM Have Announced That They Will Discontinue Tradelens, a Blockchain-Enabled Global Trade Platform
A.P. Moller – Maersk and IBM have announced the decision to discontinue their trade dispatching platform and withdraw TradeLens services. We’ve reached the point that A.P. Moeller – Maersk will not undertake further development of TradeLens, which seeks to provide a digital system for global supply chains, due to its failure to meet profitability expectations as an independent business, according to Rotem Hershko from A.P. Moeller – Maersk’s head of business platforms.
The TradeLens team is temporarily withdrawing offerings and will discontinue the platform at the end of Q1 2023. As we do this, all parties involved will ensure that customers are taken care of without disruptions to their businesses.
Maersk will continue creating solutions to digitize the supply chain and promote more global trade through increased innovation.
We’re grateful to have the support of our committed industry members and tech talents. These individuals have been working hard to advance the digital transformation of our industry through TradeLens. We’ll continue to leverage TradeLens as a stepping stone towards our digitization agenda and we’ll look forward to creating new opportunities for our technology talent.
The TradeLens platform was created in 2018 by IBM and Maersk, a cargo shipping company. This blockchain-enabled solution is designed to increase efficiency and security while reducing costs for global trade.