The first Public Private Partnership (PPP) container terminal in Sri Lanka has become the first terminal in the country to adopt blockchain technology.
South Asia Gateway Terminals (SAGT) has adopted blockchain technology by collaborating with TradeLens, a digital platform jointly developed by A.P. Moller – Maersk and IBM. This 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, said: “Digitisation and digitalisation offer all stakeholders in the supply chain significant operational cost efficiencies. SAGT is firmly committed to embracing technology in our efforts to constantly drive efficiencies towards an “ease of doing business” customer experience. The collaboration with TradeLens is a very important step forward in strengthening our digital agenda and staying ahead of the curve when it comes to digital transformation.”
The collaboration with TradeLens will allow SAGT to bring together data from the entire 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 improve operational efficiency through better visibility of container flows across multiple modes.
TradeLens provides visibility across the entire supply chain, from booking to clearance to payments and is built on a wealth 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.