CMIT Adopts Blockchain-based Shipping Solution

Asia Blockchain Review
December 29, 2019

TradeLens’ open and neutral blockchain-based platform is now being used by Vietnam’s Cai Mep International Terminal (CMIT) — one of the largest terminals in the Thi Vai – Cai Mep deepwater gateway port complex. 

According to a CMIT executive, the blockchain-based shipping solution by TradeLens could improve global trade flows considerably.

TradeLens is an Industry Leader: CMIT Executive

As a joint venture comprising Vinalines, Saigon Port, and APM Terminals, CMIT has a capacity of up to 194,000 deadweight tonnes (dwt) and 21,500 twenty-foot equivalent units (TEU). CMIT handles freight between North America, Europe, and other Asian countries.

CMIT General Director Jan Bandstra said the terminal’s adoption of TradeLens helps its customers plan their supply chain more efficiently.

“TradeLens is the industry leader, supported by the major shipping lines in developing blockchain solutions,” Bandstra said. 

“In the context of constantly increasing demand for high-quality online services by our customers, along with the robust development of global digitalisation, joining Tradelens enables immediate updates on cargo data, hence directly supporting our customers’ supply chain planning efficiency.”

Blockchain Platform for More Efficient Global Trade Flows

TradeLens brings marine shipping stakeholders such as cargo owners, freight forwarders, inland transportation providers, ports, and terminals together on a single secure platform for data sharing and collaboration. More than 100 organizations in the industry are now using TradeLens, which was launched by Maersk and IBM in August this year.

Explaining how the blockchain-based platform can benefit the industry, CMIT Deputy General Director Nguyen Xuan Ky said, “When the cargo data is transparent and enabled seamless, real-time information sharing at different stages by different entities in the global supply chain will increase considerable efficiency for global trade flows.”

CMIT plans to use e-solutions such as e-invoice and e-cargo for its routine operations.


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