PSA's open logistics platform bill revealed
With a development bill of S$20m (US$15.1m) for the first phase, PSA International has confirmed that its new global trade and supply chain platform CALISTA is undergoing trials with “selected users”.
The open source platform aims to “facilitate trade and help shippers to better manage the physical movement of goods, trade financing and compliance,” according to the terminal operator.
CALISTA promises to bring together the key physical and non-physical activities of logistics on a digital eco-system. It will achieve this through interaction with both existing and new systems and applications of various stakeholders, and streamlining processes, documents and data in the flow of goods within and across countries and regions.
Tan Chong Meng, Group chief executive of PSA, said he was excited by the possibilities that CALISTA can open up across the global supply chain. “PSA believes that a global platform like CALISTA™ will be the catalyst for breakthroughs in realising the full benefits of global supply chain digitalisation” and will be “instrumental in fostering closer collaboration amongst manufacturers, LSPs and other stakeholders”.
PSA has partnered with Global eTrade Services (GeTS) Asia, a fully-owned subsidiary of CrimsonLogic, in the platform’s development. The platform will build on GeTS’s existing suite of global trade connectivity services.
CALISTA is seeking “strategic partners” along the global supply chain to aid development and drive global and fully integrated supply chain solutions under its phased development.
DBS Bank has agreed to provide financial and banking technology services to allow PSA and GeTS to “create seamless trade financing solutions and the necessary risk management frameworks for the community of users”.
Piyush Gupta, chief executive of DBS Bank, said that it was “honoured” to play its part in supporting the digitalisation of the shipping and logistics industries. “With cross-border trade growing and Asian enterprises doing more business internationally, Singapore is well-placed to lead the charge in digitalising trade financing solutions. This means customers will be able to trade, transact and track their goods faster than before,” Mr Gupta said.
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