The Maersk-led data project TradeLens is expanding
significantly with the addition of all 31 container terminals run by
Philippines-based terminal operator ICTSI.
“We are now testing the system and transferring information
about loading and discharge of cargo, berthing of vessels to the blockchain
platform. After complete integration of the system, we will be able to optimize
work with regulatory authorities, improve our terminals visibility to what is
coming to them [and] receive updates from the sea carriers online,” said Brian
Hibbert, VP, Chief Information Officer, ICTSI.
TradeLens gives all container freight stakeholders -
shippers, forwarders, customs agencies, ports, ocean carriers and insurers -
the same digital platform for document management and shipment tracking. It was
developed jointly by Maersk and IBM. In addition to Maersk, prominent users
include CMA CGM, MSC, DP World, Yilport and Standard Chartered. In total, it
covers the shipments of 10 container carriers and 600 port and terminal
facilities worldwide.
Using a cloud platform, TradeLens creates a near-real-time,
permission-controlled, unified shipment data environment for its users. This
allows them to track shipments as they move in transit and plan their resources
accordingly. Meanwhile, participants' data is secured and validated using IBM
blockchain technology.
TradeLens says that its technology reduces the processing
time for paperwork, making it faster and easier to issue bills of lading,
sanitary certificates, invoices and other documentation. For terminal
operators, this means the potential for faster terminal release and customs
release processes. For shippers and forwarders, this is intended to translate
into less back office workload.