Canada-based Global Container Terminals (GCT) has implemented a blockchain-based supply chain platform of TradeLens to increase cargo velocity at its four terminals in North America.

All four terminals, including Canada’s largest marine terminal GCT Deltaport, now use TradeLens to digitize supply chains and ensure transparent shipping transaction. Developed by IBM and Maersk, TradeLens serves five of the top six cargo carriers. 10 of GCT’s customers have also signed up for the blockchain-powered shopping solution.

Faster Cargo Handling with Blockchain 

With the TradeLens platform, GTC can better connect with ocean carriers which can offload their cargo faster, resulting in the overall improvement of all four terminals. The platform can also eliminate paper-based transactions and prevent shipping delays.

“As competition increases from other ports and customer demands intensify, we need to activate every solution to increase cargo velocity through our terminals and improve performance,” said Doron Grosman, President & CEO of GCT.

TradeLens’s vision is to realize new ways of working within a collaborative industry ecosystem.

“GCT’s connection to TradeLens strengthens this new era of transparency and collaboration for the global supply chain,” said Mike White, CEO of Maersk GTD and Head of TradeLens.

Top Carriers Already Use TradeLens

Customers of TradeLens include large carriers such as Hapag-Lloyd, Singapore-based Ocean Network Express (ONE), MSC, CMA-CGM and Israel’s Zim. The platform’s growing number of users contradicts speculation that TradeLens would struggle to attract carriers with Maersk as its founder.

Thailand is the second country in Southeast Asia after Singapore to use the blockchain-powered shipping platform after the Thai Customs Department adopted it earlier this year.

Apart from digitizing documentation, the platform can measure temperature control and container weight using IoT devices.

TradeLens plans to roll out its service in phases at GTC’s four ports.

Source: www.ledgerinsights.com

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