DP World, a major port operator, has completed the early stages of integration with TradeLens, a blockchain-based digital container logistics platform jointly developed by A.P. Moller-Maersk and IBM.
The companies said the collaboration will help accelerate the digitization of global supply chains. DP World aims to connect all its 82 marine and inland container terminals, as well as feeder companies and logistics divisions, with TradeLens. In 2019, DP World’s terminals handled 71.2 million 20-foot equivalent units (TEU) containers from around 70,000 vessels.
TradeLens brings together data from the entire global supply chain ecosystem, including shippers, port operators and shipping lines. It also aims to modernize manual and paper-based documents, replacing them with blockchain-enabled digital solutions.
DP World said the data from its integration with TradeLens will improve operational efficiency, with earlier visibility of container flows across multiple carriers, including confirmation of the transport modality that follows the port stay for each container that in heavy transhipment or rail ports enables better yard planning. It will also expand the capabilities of DP World’s digital platforms created to move the management of logistics online.
“Our decision to team up with TradeLens is driven by our vision for intelligent logistics, reducing costs and creating value,” Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World said. “DP World is working to deliver integrated supply chain solutions to cargo owners, backed by our global network of ports, terminals, economic zones and inland operations. By working with TradeLens we will accelerate the digitization of global trade. Modernizing the processes by which logistics operate is critical to building more robust and more efficient supply chains, which will help economic development and generate more prosperity.”
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TradeLens provides visibility across the entire supply chain, from booking to clearance to payments, and is built on an array of input from the industry, including direct integrations with more than 110 ports and terminals, 15 customs authorities around the world and an increasing number of intermodal providers.
“It is very encouraging to see the continued adoption of the TradeLens platform among global logistics players as it helps global supply chain customers expand and explore the benefits of digital documentation flows,” Vincent Clerc, CEO of Ocean and Logistics at Maersk, said. “In turn, the broadened geographic scope of the platform provides new opportunities for TradeLens ecosystem participants to innovate and develop digital offerings on the platform.”
Mike White, CEO GTD Solutions and head of TradeLens, noted that the TradeLens business model is to be an open and neutral platform meant to spur collaboration and digitization between all parties in the supply chain ecosystem.
“With four of the five largest global port operators actively engaged with TradeLens, the coverage of the ecosystem continues to expand rapidly,” White said.
DP World has already connected Cochin Port in India with the TradeLens platform via API technology. Plans to collaborate with other DP World business units, including the feeder line Unifeeder, have also been initiated.