An Asian Shipping Terminal Joins TradeLens

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TradeLens is not slowing down as, some time ago, another large member joined the platform. In what way will blockchain technology help the platform solve the problems associated with the shipping industry?

New member on TradeLens's board

According to a press release issued on the 19th of December by Cai Mep International Terminal, the blockchain platform which belongs to IBM (a technology giant) and to Maersk (a shipping company), has gained a new member - an Cai Mep International Terminal (CMIT) based in Vietnam.

Jan Nandstra, a general director at CMIT, underlined that the decision about joining the program was dictated by the demand of the customers for immediate access to shipping data. It is a common knowledge that CMIT is one of the largest terminals in Asia. It provides a direct connection between Vietnam and European, North American and Asian markets.

Nguyen Xuan Ky, deputy general director at CMIT, added that data transparency is crucial for such a global shipping industry.

"When the cargo data is transparent and enabled seamless, real-time information sharing at different stages by different entities in global supply chain will increase considerable efficiency for global trade flows."

- said Nguyen Xuan Ky.


TradeLens is developing fast

The TradeLens platform became a standard in the global shipping industry very fast. The fruit of cooperation between Maersk and IBM strives to improve processes related to global supply chains.

The consortium includes currently over 100 entities. Even the Thai Customs Authority which intended to create better facilities for controlling shipments in local ports, has recently joined the TradeLens. It was also aiming at introducing changes in logistics systems, which is, generally speaking, the digitization of shipping processes.

In August, the Russian Ministry of Transport appreciated the potential of TradeLens as well. The body signed a Memorandum of Understanding with Maersk, under which the platform was officially launched in Russia, which, in turn, took the formalities related to transport processes to a whole new level.