operator International Container Terminal Services, Inc. (ICTSI) has agreed to
connect its terminals to the TradeLens blockchain network, a platform developed
by Maersk and IBM.
Tradelens allows ICTSI's 31 terminals permissioned access to accurate
information on cargo movements in advance of vessel arrivals, according to an
Tracking of containers through the networked exchange of data enables
efficient asset planning for all entities involved
containers through the networked exchange of data enables efficient asset
planning for all entities involved utilising data in near real time to create
end-to-end data visibility, said ICTSI in its statement and added that
leveraging an enterprise data platform, it will manage a single global
TradeLens connection that will enable rapid innovation and service improvement
in partnership with TradeLens.
After complete integration of the system, we will be able to optimise
work with regulatory authorities
integration of the system, we will be able to optimise work with regulatory
authorities, improve our terminals’ visibility to what is coming to them as
well as receive updates from the sea carriers online,” explained Brian Hibbert,
ICTSI vice president and chief information officer.
Launched in 2018, the TradeLens ecosystem now includes more than 175
Launched in 2018,
the TradeLens ecosystem now includes more than 175 organisations, extending to
more than 10 ocean carriers and encompassing data from more than 600 ports and
geographic scope of the platform is bolstered by the addition of ICTSI and
provides new opportunities for TradeLens participants as the ecosystem
continues to expand rapidly,” commented Thomas Sproat, TradeLens director of
Blockchain technology reduces the processing
time of traditional paper documents, making it faster and easier to issue bills
of lading for cargo, sanitary certificates, invoices for payment and other
types of documentation, according to the announcement.
this is especially important when considering hazardous cargo and potential
efficiency gains in the terminal release and customs release processes, ICTSI
Clients better manage a critical phase of the container journey
"The ability for
clients to get faster and more granular information from terminals, like those
managed by ICTSI, allows them to better manage a critical phase of the
container journey," added the international operator "from container
discharge information, to gate in empty details, having a single source of
visibility for container movements directly improves efficiencies throughout
the planning and invoice reconciliation cycles.