International Container Terminal Services Inc. (ICTSI) is tapping the blockchain platform to connect its terminal operations globally.
ICTSI said in a statement it has signed with Tradelens, a blockchain platform jointly developed by IBM and Maersk, to connect its 31 terminals in 19 countries, giving them access to accurate information on cargo movements well in advance of vessel arrivals.
“Tracking of containers through the networked exchange of data enables efficient asset planning for all entities involved utilizing data in near real time to create end-to-end data visibility. Leveraging a state-of-the-art enterprise data platform ICTSI will manage a single global TradeLens connection that will enable rapid innovation and service improvement in partnership with TradeLens,” it said.
Launched in 2018, 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.
TradeLens not only enables carriers and cargo owners to exchange transactional information in real time, it also sends associated trade documents to permissioned parties.