AP Moller-Maersk has agreed a deal to run a blockchain pilot scheme in Russia.

The cooperation with the Russian ministry of transport will see its boxship shipping data platform venture with IBM, TradeLens, launch in St Petersburg, the country's main container gateway.

Group CEO Soren Skou signed the deal with Yuriy Tsvetkov, deputy transport minister.

Tsvetkov said: “The main result of the implementation of TradeLens, according to our expectations, should be an increase in the transparency of the contracting procedure by distributing information about supply and demand, conditions and operations between many participants of the transport and logistics processes.