IDEAS home Printed from https://ideas.repec.org/a/pal/marecl/v26y2024i4d10.1057_s41278-023-00280-y.html
   My bibliography  Save this article

Blockchain implementation in the maritime industry: a literature review and synthesis analysis of benefits and challenges

Author

Listed:
  • Kunpeng Li

    (Air Force Institute of Technology
    California State University)

  • Jun-Yeon Lee

    (California State University)

  • Amir Gharehgozli

    (California State University)

Abstract

Seaborne trade plays a vital role in global trade by facilitating the movement of cargo across the globe. However, maritime transactions are characterized by inherent complexity and frequently exhibit deficiencies in transparency and operational efficiency. This is due to primary factors such as substantial amount of paperwork, ineffective data sharing and processing, system incompatibilities, and a lack of logistic transparency and real-time traceability. Blockchain is a decentralized information technology that offers a promising solution to the ongoing challenges in maritime business. We comprehensively review the literature on blockchain and conduct a synthesis analysis of the benefits and challenges of implementing blockchain in the maritime industry. We demonstrate that blockchain could improve operational efficiency, enhance logistics security and transparency, reduce transaction costs and time, improve sustainability, as well as build trust among participants.

Suggested Citation

  • Kunpeng Li & Jun-Yeon Lee & Amir Gharehgozli, 2024. "Blockchain implementation in the maritime industry: a literature review and synthesis analysis of benefits and challenges," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 26(4), pages 630-657, December.
    • Handle: RePEc:pal:marecl:v:26:y:2024:i:4:d:10.1057_s41278-023-00280-y
    DOI: 10.1057/s41278-023-00280-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41278-023-00280-y
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41278-023-00280-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Eric Lambourdiere & Elsa Corbin, 2020. "Blockchain and maritime supply-chain performance: dynamic capabilities perspective," Post-Print hal-03921493, HAL.
    2. Sara Saberi & Mahtab Kouhizadeh & Joseph Sarkis & Lejia Shen, 2019. "Blockchain technology and its relationships to sustainable supply chain management," International Journal of Production Research, Taylor & Francis Journals, vol. 57(7), pages 2117-2135, April.
    3. Papathanasiou, Angeliki & Cole, Rosanna & Murray, Philip, 2020. "The (non-)application of blockchain technology in the Greek shipping industry," European Management Journal, Elsevier, vol. 38(6), pages 927-938.
    4. Wang, Junjin & Liu, Jiaguo & Wang, Fan & Yue, Xiaohang, 2021. "Blockchain technology for port logistics capability: Exclusive or sharing," Transportation Research Part B: Methodological, Elsevier, vol. 149(C), pages 347-392.
    5. Kunpeng Li & Jun-Yeon Lee & Amir Gharehgozli, 2023. "Blockchain in food supply chains: a literature review and synthesis analysis of platforms, benefits and challenges," International Journal of Production Research, Taylor & Francis Journals, vol. 61(11), pages 3527-3546, June.
    6. Shuaian Wang & Lu Zhen & Liyang Xiao & Maria Attard, 2021. "Data-Driven Intelligent Port Management Based on Blockchain," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 38(03), pages 1-16, June.
    7. Fa Zhang & Yimiao Gu, 2022. "Approach to an Equivalent Freight-Based Sustainable Joint-Quotation Strategy for Shipping Blockchain Alliance," Sustainability, MDPI, vol. 14(16), pages 1-28, August.
    8. Jiaguo Liu & Huimin Zhang & Lu Zhen, 2023. "Blockchain technology in maritime supply chains: applications, architecture and challenges," International Journal of Production Research, Taylor & Francis Journals, vol. 61(11), pages 3547-3563, June.
    9. Gabriella M. Hastig & ManMohan S. Sodhi, 2020. "Blockchain for Supply Chain Traceability: Business Requirements and Critical Success Factors," Production and Operations Management, Production and Operations Management Society, vol. 29(4), pages 935-954, April.
    10. Amir Hossein Gharehgozli & Debjit Roy & René de Koster, 2016. "Sea container terminals: New technologies and OR models," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 18(2), pages 103-140, June.
    11. Theo Notteboom & Thanos Pallis & Jean-Paul Rodrigue, 2021. "Disruptions and resilience in global container shipping and ports: the COVID-19 pandemic versus the 2008–2009 financial crisis," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 23(2), pages 179-210, June.
    12. Olaf Merk & Jan Hoffmann & Hercules Haralambides, 2022. "Post-COVID-19 scenarios for the governance of maritime transport and ports," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04046254, HAL.
    13. Olaf Merk & Jan Hoffmann & Hercules Haralambides, 2022. "Post-COVID-19 scenarios for the governance of maritime transport and ports," Post-Print hal-04046254, HAL.
    14. Amir Gharehgozli & Nima Zaerpour & Rene Koster, 2020. "Container terminal layout design: transition and future," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 22(4), pages 610-639, December.
    15. Paech, Philipp, 2017. "The governance of blockchain financial networks," LSE Research Online Documents on Economics 80440, London School of Economics and Political Science, LSE Library.
    16. Rudy R. Negenborn & Floris Goerlandt & Tor A. Johansen & Peter Slaets & Osiris A. Valdez Banda & Thierry Vanelslander & Nikolaos P. Ventikos, 2023. "Autonomous ships are on the horizon: here’s what we need to know," Nature, Nature, vol. 615(7950), pages 30-33, March.
    17. Yanling Chang & Eleftherios Iakovou & Weidong Shi, 2020. "Blockchain in global supply chains and cross border trade: a critical synthesis of the state-of-the-art, challenges and opportunities," International Journal of Production Research, Taylor & Francis Journals, vol. 58(7), pages 2082-2099, April.
    18. Yujing Chen & Bin Yang, 2022. "Cooperative Decision Making of Supply Chain Members of Shipping Logistics Services Under the Background of Blockchain," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 39(01), pages 1-39, February.
    19. Elnaz Irannezhad, 2020. "The Architectural Design Requirements of a Blockchain-Based Port Community System," Logistics, MDPI, vol. 4(4), pages 1-31, November.
    20. Kelly Gerakoudi-Ventouri, 2022. "Review of studies of blockchain technology effects on the shipping industry," Journal of Shipping and Trade, Springer, vol. 7(1), pages 1-18, December.
    21. Anne H. Gausdal & Karen V. Czachorowski & Marina Z. Solesvik, 2018. "Applying Blockchain Technology: Evidence from Norwegian Companies," Sustainability, MDPI, vol. 10(6), pages 1-16, June.
    22. Kshetri, Nir, 2018. "1 Blockchain’s roles in meeting key supply chain management objectives," International Journal of Information Management, Elsevier, vol. 39(C), pages 80-89.
    23. Shuyi Pu & Jasmine Siu Lee Lam, 2021. "Blockchain adoptions in the maritime industry: a conceptual framework," Maritime Policy & Management, Taylor & Francis Journals, vol. 48(6), pages 777-794, August.
    24. Olaf Merk & Jan Hoffmann & Hercules Haralambides, 2022. "Post-COVID-19 scenarios for the governance of maritime transport and ports," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(4), pages 673-685, December.
    25. Fu, Hao & Zhao, Cuiping & Cheng, Chuanxing & Ma, Mengyun, 2020. "Blockchain-based agri-food supply chain management: case study in China," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 23(5), February.
    26. Hee-sung Bae, 2021. "The Interaction Effect of Information Systems of Shipping and Logistics Firms and Managers’ Support for Blockchain Technology on Cooperation with Shippers for Sustainable Value Creation," Sustainability, MDPI, vol. 13(8), pages 1-14, April.
    27. Marija Jović & Edvard Tijan & Dražen Žgaljić & Saša Aksentijević, 2020. "Improving Maritime Transport Sustainability Using Blockchain-Based Information Exchange," Sustainability, MDPI, vol. 12(21), pages 1-19, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Surucu-Balci, Ebru & Iris, Çağatay & Balci, Gökcay, 2024. "Digital information in maritime supply chains with blockchain and cloud platforms: Supply chain capabilities, barriers, and research opportunities," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    2. Huizhu Ju & Qingcheng Zeng & Xiang Chu & Yimeng Li, 2024. "Cooperative investment strategies of ports and shipping companies in blockchain technology," Operational Research, Springer, vol. 24(2), pages 1-33, June.
    3. Schnelle, Johannes & Schröder, Meike & Kersten, Wolfgang, 2022. "Framework for the adoption of blockchain in maritime cold chains," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Kersten, Wolfgang & Jahn, Carlos & Blecker, Thorsten & Ringle, Christian M. (ed.), Changing Tides: The New Role of Resilience and Sustainability in Logistics and Supply Chain Management – Innovative Approaches for the Shift to a New , volume 33, pages 121-148, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
    4. Pattanayak, Sirsha & Ramkumar, M. & Goswami, Mohit & Rana, Nripendra P., 2024. "Blockchain technology and supply chain performance: The role of trust and relational capabilities," International Journal of Production Economics, Elsevier, vol. 271(C).
    5. Zhu-Jun Wang & Yangyang Sun & Qin Su & Muhammet Deveci & Kannan Govindan & Mirosław J. Skibniewski & Zhen-Song Chen, 2024. "Smart Contract Application in Resisting Extreme Weather Risks for the Prefabricated Construction Supply Chain: Prototype Exploration and Assessment," Group Decision and Negotiation, Springer, vol. 33(5), pages 1049-1087, October.
    6. Ulpan Tokkozhina & Ana Lucia Martins & Joao C. Ferreira, 2023. "Uncovering dimensions of the impact of blockchain technology in supply chain management," Operations Management Research, Springer, vol. 16(1), pages 99-125, March.
    7. Abderahman Rejeb & Karim Rejeb & Steve Simske & Horst Treiblmaier, 2021. "Blockchain Technologies in Logistics and Supply Chain Management: A Bibliometric Review," Logistics, MDPI, vol. 5(4), pages 1-28, October.
    8. Vincenzo Varriale & Antonello Cammarano & Francesca Michelino & Mauro Caputo, 2021. "Sustainable Supply Chains with Blockchain, IoT and RFID: A Simulation on Order Management," Sustainability, MDPI, vol. 13(11), pages 1-23, June.
    9. Davies, Jennifer & Sharifi, Hossein & Lyons, Andrew & Forster, Rick & Elsayed, Omar Khaled Shokry Mohamed, 2024. "Non-fungible tokens: The missing ingredient for sustainable supply chains in the metaverse age?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 182(C).
    10. Yuling Sun & Xiaomei Song & Yihao Jiang & Jian Guo, 2023. "Strategy Analysis of Fresh Agricultural Enterprises in a Competitive Circumstance: The Impact of Blockchain and Consumer Traceability Preferences," Mathematics, MDPI, vol. 11(5), pages 1-18, February.
    11. Kirti Nayal & Rakesh D. Raut & Balkrishna E. Narkhede & Pragati Priyadarshinee & Gajanan B. Panchal & Vidyadhar V. Gedam, 2023. "Antecedents for blockchain technology-enabled sustainable agriculture supply chain," Annals of Operations Research, Springer, vol. 327(1), pages 293-337, August.
    12. Ma, Deqing & Hu, Jinsong, 2022. "The optimal combination between blockchain and sales format in an internet platform-based closed-loop supply chain," International Journal of Production Economics, Elsevier, vol. 254(C).
    13. Latan, Hengky & Lopes de Sousa Jabbour, Ana Beatriz & Sarkis, Joseph & Chiappetta Jabbour, Charbel Jose & Ali, Murad, 2024. "The nexus of supply chain performance and blockchain technology in the digitalization era: Insights from a fast-growing economy," Journal of Business Research, Elsevier, vol. 172(C).
    14. Arim Park & Huan Li, 2021. "The Effect of Blockchain Technology on Supply Chain Sustainability Performances," Sustainability, MDPI, vol. 13(4), pages 1-18, February.
    15. Vincenzo Varriale & Antonello Cammarano & Francesca Michelino & Mauro Caputo, 2020. "The Unknown Potential of Blockchain for Sustainable Supply Chains," Sustainability, MDPI, vol. 12(22), pages 1-16, November.
    16. Yu Gong & Shenghao Xie & Deepak Arunachalam & Jiang Duan & Jianli Luo, 2022. "Blockchain‐based recycling and its impact on recycling performance: A network theory perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 31(8), pages 3717-3741, December.
    17. Manu Sharma & Sudhanshu Joshi & Sunil Luthra & Anil Kumar, 2022. "Managing disruptions and risks amidst COVID-19 outbreaks: role of blockchain technology in developing resilient food supply chains," Operations Management Research, Springer, vol. 15(1), pages 268-281, June.
    18. Ysé Commandré & Catherine Macombe & Sophie Mignon, 2021. "Implications for Agricultural Producers of Using Blockchain for Food Transparency, Study of 4 Food Chains by Cumulative Approach," Post-Print hal-03351947, HAL.
    19. Antonello Cammarano & Vincenzo Varriale & Francesca Michelino & Mauro Caputo, 2023. "Blockchain as enabling factor for implementing RFID and IoT technologies in VMI: a simulation on the Parmigiano Reggiano supply chain," Operations Management Research, Springer, vol. 16(2), pages 726-754, June.
    20. Yadav, Amit Kumar & Shweta, & Kumar, Dinesh, 2023. "Blockchain technology and vaccine supply chain: Exploration and analysis of the adoption barriers in the Indian context," International Journal of Production Economics, Elsevier, vol. 255(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:marecl:v:26:y:2024:i:4:d:10.1057_s41278-023-00280-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.