Modern Terminals Limited today announced its participation as a Network Member in TradeLens, jointly developed by A.P. Moller – Maersk and IBM to apply blockchain to the world’s global supply chain. TradeLens seeks to digitize and streamline processes in the global supply chain to deliver higher efficiency and lower cost.
The objective of Modern Terminals’ participation as a Network Member is to evaluate the performance of TradeLens and to offer suggestions on where the technology can improve.
Peter Levesque, Group Managing Director of Modern Terminals Limited said, “TradeLens uses blockchain to create an industry standard for the secure digitization and transmission of supply chain documents around the world. This initiative will generate tremendous savings for our industry over time while enhancing global supply chain security. Modern Terminals is pleased to participate as a Network Member in testing this exciting shipping industry innovation.”
Over the last several years Modern Terminals has made significant investments in information technology and port infrastructure to be able to provide customers with state of the art port services. Participation in TradeLens, and the future use of blockchain to streamline and secure supply chain documentation is an important part of the Company’s direction.
As part of the TradeLens early adopter program, IBM and Maersk has announced that 94 organizations are actively involved or have agreed to participate on the TradeLens platform built on open standards. The TradeLens ecosystem currently includes:
- More than 20 port and terminal operators across the globe, including PSA Singapore, International Container Terminal Services Inc, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase, and terminal operators Holt Logistics at the Port of Philadelphia, join the global APM Terminals’ network in piloting the solution. This accounts for approximately 234 marine gateways worldwide that have or will be actively participating on TradeLens.
- Pacific International Lines (PIL) have joined Maersk Line and Hamburg Süd as global container carriers participating in the solution.
- Customs authorities in the Netherlands, Saudi Arabia, Singapore, Australia and Peru are participating, along with customs brokers Ransa and Güler & Dinamik.
- Participation among beneficial cargo owners (BCOs) has grown to include Torre Blanca / Camposol and Umit Bisiklet.
- Freight forwarders, transportation and logistics companies including Agility, CEVA Logistics, DAMCO, Kotahi, PLH Trucking Company, Ancotrans and WorldWide Alliance are also currently participating.
TradeLens uses IBM Blockchain technology as the foundation for digital supply chains, empowering multiple trading partners to collaborate by establishing a single shared view of a transaction without compromising details, privacy or confidentiality. Shippers, shipping lines, freight forwarders, port and terminal operators, inland transportation and customs authorities can interact more efficiently through real-time access to shipping data ad shipping documents, including IoT and sensor data ranging from temperature control to container weight.