logo
Plus   Neg
Share
Email

Spanish Port Authority Joins IBM/Maersk's TradeLens Blockchain Platform

ibmblockchain-jan22-lt.jpg

The Port Authority of the Bay of Algeciras or APBA has signed an agreement to collaborate with Tradelens, a blockchain technology-based shipping platform, Europa News reported.

Tradelens, which was launched in August last year, was jointly developed by IBM and Danish shipping giant Maersk, to bring transparency in the shipping industry. At the time of the launch, around 94 organizations were actively involved or had agreed to participate.

APBA, which manages the ports of Algeciras Bay and Tarifa, said the TradeLens platform would allow a more secure and efficient exchange of information and documentation between partners in the global supply chain. The platform is expected to help shippers, freight forwarders, logistics operators and shipping companies.

Algeciras, one of the top 10 busiest ports in Europe, hosts over 70 million tons of cargo traffic annually. As per the APBA site, the forecast for 2018 is towards 109 million tonnes of throughput and 5 million TEUs.

The TradeLens ecosystem currently includes more than 20 port and terminal operators, representing about 234 marine gateways or seaports on five continents.

In November last year, another Spanish port, the Port Authority of Valencia or Valenciaport, joined TradeLens. Recently, Saudi Customs integrated its customs tracking platform called Fasah with TradeLens in a pilot project.

Earlier, South Korean IT services company Samsung SDS had joined with Dutch bank ABN AMRO and Port of Rotterdam Authority for a trial project that applies blockchain to shipping and logistics business.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT