International terminal operator International Container Terminal Services has signed to connect its 31 terminals to the TradeLens blockchain network, a platform jointly developed by IBM and Maersk.
The blockchain platform allows ICTSI terminals to access accurate information on the movement of goods long before the arrival of ships.
Container monitoring through networked data exchange allows for efficient asset planning.
Leveraging the data platform, ICTSI will manage a single global TradeLens connection which will enable service improvement in partnership with TradeLens.
ICTSI Vice President and Chief Information Officer Brian Hibbert said, “We are now testing the system and transferring information on loading and unloading cargo and ship docking 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. “
TradeLens’ director of network development, Thomas Sproat, said, “The broadening of the geographic scope of the platform is strengthened by the addition of ICTSI and offers new opportunities to TradeLens participants as the ecosystem continues to expand rapidly. We are excited to welcome ICTSI and look forward to the creation of new ways of working for shippers and recipients who indirectly use their services. ”
TradeLens sends associated business documents to authorized parties and allows carriers and freight owners to exchange transaction information in real time.
The processing time of traditional paper documents is reduced with the help of blockchain technology.
For terminals, it is particularly important when considering dangerous goods and potential efficiency gains in terminal release and customs clearance procedures.
Introduced in 2018, the TradeLens ecosystem now includes more than 175 factories, spanning more than ten ocean carriers and covering data from more than 600 terminals and ports.
To date, it has tracked approximately 13 million published documents, 30 million container shipments and 1.5 billion events.
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