TradeLens project is a technological solution developed by IBM and Maersk that allows the blockchain to be applied to the global supply chain. It is now expanding with five of the world’s top six ocean carriers and ten of GCT’s ocean carrier customers committed to the TradeLens platform.
The program will be rolled out in phases at all four of GCT’s terminals adding visibility to the east and west coasts of North America.
What is more, Eyal Ben-Amram, CIO of ZIM, said that it is pleasing that more organizations from across the shipping industry sign on to the platform.
“As TradeLens evolves, it is critical more supply chain partners participate to facilitate an open and transparent approach to information sharing. This enhanced level of visibility and efficiency will ultimately benefit the entire industry and our customers.”
GCT now hopes to increases its capability to deliver better service and visibility to supply chain, adding that due to increased competition from other ports and customer demands, every solution is needed to increase cargo velocity.
From his part, Mike White, CEO of Maersk GTD and Head of TradeLens, welcomed GCT to the platform, saying that:
“Integrating data with ports, terminals, logistics providers, shippers, and carriers is essential for the vision of TradeLens 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.”
According to the data collected by the system itself, the use of TradeLens allows to reduce the transit time of a shipment by 40%, which represents an important economic saving.
The developers of TradeLens have indicated that the information contained in this system grows at the rate of one million daily data shipments, surpassing EDI systems used in the common way, in addition to avoid the use of emails, messaging and fax services.