SAGT, a Public Private Partnership container terminal in Sri Lanka, has become the first terminal in the country to adopt the blockchain technology by collaborating with TradeLens.
TradeLens is a digital platform jointly developed by A.P. Moller – Maersk and IBM. Its aim is to provide visibility across the supply chain, from booking to clearance to payments and includes integrations with more than 110 ports and terminals, more than 15 customs authorities around the world and an increasing number of intermodal providers.
The collaboration with TradeLens will allow SAGT to bring together data from the global supply chain ecosystem that includes shippers, shipping lines, ports and many more supply chain players from around the world. This data, based on the Blockchain-powered TradeLens platform, will likely improve operational efficiency through better visibility of container flows across multiple modes.
There is hope that the move will help in accelerating the digitisation agenda of the shipping industry in Sri Lanka by transforming manual, paper-based and time-consuming administrative processes into digital ones.
Ted Muttiah, Chief Commercial Officer of SAGT commented: “Digitisation and digitalisation offer all stakeholders to the supply chain significant operational cost efficiencies. SAGT is firmly committed to embracing technology in our efforts to constantly drive efficiency.”
According to Maersk, SAGT has played an important role in facilitating global trade through Sri Lanka by serving most of the world’s shipping lines. With an annual throughput of over 2m TEU containers SAGT, Maersk believes that it is a pivot for movement of cargo through South Asia.
Source: Maersk
