-
International Container Terminal Services, Inc. (ICTSI) will connect its 31 terminals to blockchain platform TradeLens for end-to-end visibility
-
The TradeLens ecosystem includes more than 175 organizations—extending to more than 10 ocean carriers and encompassing data from more than 600 ports and terminals
-
Once integrated into the system, ICTSI will improve terminals’ visibility
Global port operator International Container Terminal Services, Inc. (ICTSI) has signed on to connect its 31 terminals to blockchain platform TradeLens to enable real-time tracking of containers and end-to-end visibility.
In a statement, the company said connecting all its terminals to TradeLens will allow access to accurate information on cargo movements well in advance of vessel arrivals.
Launched in 2018, TradeLens is an open and neutral industry platform underpinned by blockchain technology. It was jointly developed by technology company IBM and Danish shipping giant Maersk, and has the support of major players across the global shipping industry.
The TradeLens ecosystem now includes more than 175 organizations—extending to more than 10 ocean carriers and encompassing data from more than 600 ports and terminals. Already, it has tracked 30 million container shipments, 1.5 billion events and roughly 13 million published documents.
ICTSI said tracking of containers through the networked exchange of data enables efficient asset planning for all entities involved that are utilizing data in near real time to create end-to-end data visibility.
ICTSI said it is leveraging a state-of-the-art enterprise data platform to manage a single global TradeLens connection that will enable rapid innovation and service improvement for the port operator.
“We are now testing the system and transferring information about loading and discharge of cargo, berthing of vessels to the blockchain platform,” ICTSI vice president and chief information officer Brian Hibbert said.
“After complete integration of the system, we will be able to optimize work with regulatory authorities, improve our terminals’ visibility to what is coming to them as well as receive updates from the sea carriers online.”
TradeLens director of network development Thomas Sproat said the addition of ICTSI broadens the geographic scope of the platform and provides new opportunities for TradeLens participants as the ecosystem continues to expand rapidly.
“We are excited to welcome ICTSI and eagerly await the creation of new ways of working for shippers and consignees that indirectly utilize their services,” he said.
ICTSI said TradeLens not only enables carriers and cargo owners to exchange transactional information in real time, it also sends associated trade documents to permissioned parties.
Blockchain technology reduces the processing time of traditional paper documents, making it faster and easier to issue bills of lading for cargo, sanitary certificates, invoices for payment and other types of documentation.
For terminals, ICTSI said this is especially important when considering hazardous cargo and potential efficiency gains in the terminal release and customs release processes.
For clients, the ability to get faster and more granular information from terminals, like those managed by ICTSI, allows them to better manage a critical phase of the container journey. From container discharge information, to gate in empty details, having a single source of visibility for container movements directly improves efficiencies throughout the planning and invoice reconciliation cycles, ICTSI explained.
