International Container Terminal Services, Inc. (ICTSI) will connect its 31 terminals to the TradeLens blockchain platform to track and plan cargo movements for increased efficiency.
Jointly developed by IBM and Maersk, the TradeLens blockchain platform allows ICTSI terminals access to accurate information on cargo movements well in advance of vessel arrivals. Tracking of 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.
“We are now testing the system and transferring information about loading and discharge of cargo, berthing of vessels to the blockchain platform,” said Brian Hibbert, ICTSI vice president and chief information officer. “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 as well as receive updates from the sea carriers online.”
Over 175 organisations
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 terminals. It has already tracked 30m container shipments, 1.5bn events and approximately 13m published documents.
TradeLens not only enables carriers and cargo owners to exchange transactional information in real time, it also sends associated trade documents to permissioned parties. Blockchain technology reduces the processing time of traditional paper documents. For terminals, this is especially important when considering hazardous cargo and potential efficiency gains in the terminal release and customs release processes.
