TRADEGO: Nine Companies Set-Up To Digitalise Bulk Cargo Trading

Nine companies have indicated interest to establish an international digital document platform on bulk cargo trading.

They are Cosco Shipping Energy Transportation, China Merchants Energy Shipping, Sinochem Energy, China National United Oil Corporation, Macquarie, Bank of China, China Construction Bank, Saudi Aramco Energy Ventures, Mitsui & Co and Wanxiang Blockchain.

These companies have signed an agreement to set up joint venture TradeGo for establishing a digital international bulk cargo service platform based on blockchain technology.

TradeGo will operate an international digital document platform firstly in China.

Açcording to a statement,  It will provide digital documentation services for bulk cargo trading and improve efficiency through the realisation of quick custom clearance and delivery, utilising blockchain technologies.

“The stakeholders of TradeGo are the leaders from energy, transportation, finance, metal and blockchain sectors, which will become the first batch of partners to develop the platform, and explore innovations for digital international trading of bulk cargos,” commented Cosco Shipping Energy Transportation.

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Cosco Shipping, Mitsui & Co, and Saudi Aramco are among nine companies are jointly establishing TradeGo, a digital platform servicing for international bulk cargo trading business.