The blockchain platform will allow ICTSI terminals to access information on the movement of goods well in advance of the arrival of ships. The ability to track containers through networked data exchange will enable efficient resource planning for all entities involved using near real-time data to create end-to-end data visibility.
“We are now testing the system and transferring information on the loading and unloading of cargo, the docking of ships to the blockchain platform. After full system integration, we will be able to streamline work with regulators, improve the visibility of our terminals on what’s coming to them and receive online updates from shipping carriers, “said Brian Hibbert, Vice President and Head information officer of the ICTSI.
Launched in 2018, the TradeLens ecosystem encompasses more than 175 organizations, spanning more than 10 ocean carriers and including data from over 600 ports and terminals. It has already tracked 30 million container shipments, 1.5 billion events and about 13 million published documents.
“The broadening of the geographic scope of the platform is reinforced by the addition of ICTSI and offers new opportunities for TradeLens participants as the ecosystem continues to expand rapidly. We are thrilled to welcome ICTSI and look forward to the creation of new ways of working for shippers and recipients who indirectly use their services, ”said Thomas Sproat, Director of Network Development at TradeLens.
Blockchain technology reduces processing times for traditional paper documents, making it quicker and easier to issue bills of lading for goods, health certificates, payment bills and other types of documentation. For terminals, this is particularly important when considering dangerous cargoes and potential efficiency improvements in the terminal release and customs clearance processes.
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