The Port Authority of the Bay of Algeciras (APBA) will cooperate with IBM on Tradelens, the digital platform based on blockchain that IBM and Maersk have developed. By the end of 2018, over 100 organizations and 20 port operators have joined Tradelens.
The TradeLens project is a technological solution developed by IBM and Maersk that allows the blockchain to be applied to the global supply chain.
The TradeLens ecosystem currently includes more than 20 port operators and terminals around the world, representing approximately 234 seaports on five continents, including PSA Singapore, ICTSI, Patrick Terminals, Modern Terminals in Hong Kong, Port of Halifax, Port of Rotterdam, Port of Bilbao, PortConnect, PortBase and terminal operators Holt Logistics in the Port of Philadelphia.
According to local media, the platform will enable APBA to safely and efficiently exchange information and documentation between partners within a supply chain. Namely, the platform will provide value for shippers, freight forwarders, logistics operators and shipping companies.
On November 5, Valenciaport announced its involvement with the TradeLens project. Valenciaport will be integrated as “Early Adopters”, a category which the parties consider themselves of mutual interest so that the technologies that are developed consider Valenciaport as a collaborator from the beginning.
Furthermore, the Port of Montreal joined TradeLens, too, alongside Canada Border and Services Agency (CBSA) as the two newest Canadian members of the global, blockchain-enabled shipping solution.
However, during November, there were reports that Maersk and IBM were reportedly struggling with their blockchain platform, as besides them, only one other carrier has joined in, Pacific International Lines (PIL). This comes at a time when, Maersk’s competitors such as CMA CGM, Cosco, Evergreen, OOCL and Yang Ming have also established a similar platform.
Namely, since its announcement, only one carrier, Pacific International Lines have joined the project. According to sources, the reason for this is the fact that Maersk’s rivals are not to keen about entering the platform on unequal terms.