Cosco Shipping, Alibaba and Ant to develop shipping & logistics

Cosco Shipping Group, Alibaba Group and Ant Group signed strategic cooperation agreement to jointly promote global shipping and logistics blockchain development.

Under the agreement, Cosco Shipping will work with Ant to jointly research and promote shipping logistics blockchain applications and deployment in China market, and promote the strategic connections based on blockchain technology for shipping, port, logistics and financial sectors.

Additionally, the two will also strengthen the cooperation on intelligent shipping, intelligent port and supply chain finance.

Xu Lirong, chairman of Cosco Shipping commented, we are expecting to connect upstream and downstream of shipping industry via the technologies of blockchain, internet of things and 5G.

“Through Ant Group’s blockchain technology, we look forward to supporting the digital transformation of the global shipping industry via the combination of logistics and technology, and working with Cosco Shipping to make it easier and more efficient to trade globally,” said Jing Xiandong, chairman of Ant Group.

In May, Ant and Alibaba established cooperation with China’s port operator China Merchants Port to develop digital technology and intelligent port


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