CMIT Embraces TradeLens Shipping Solution That Promotes Blockchain

CMIT Embraces TradeLens Shipping Solution That Promotes Blockchain

Blockchain News
December 21, 2019 Editor's Desk
1388
Vietnam’s Cai Mep International Terminal (CMIT) has embraced the TradeLens shipping solution, which encourages blockchain technology. CMIT is a joint venture (JV) involving Vinalines, Saigon Port, and APM Terminals and is one of the largest terminals in the Cai Mep – Thi Vai deepwater gateway port complex. The terminal is competent in accommodating mainline vessels
CMIT

Vietnam’s Cai Mep International Terminal (CMIT) has embraced the TradeLens shipping solution, which encourages blockchain technology.
CMIT is a joint venture (JV) involving Vinalines, Saigon Port, and APM Terminals and is one of the largest terminals in the Cai Mep – Thi Vai deepwater gateway port complex.

The terminal is competent in accommodating mainline vessels with a capacity up to 194,000 deadweight tonnes (dwt) / 21,500 twenty-foot equivalent units (TEU), comparing Vietnam with markets in Europe, North America, and elsewhere in Asia.

It serves as a vital link in global trade and endeavors to innovate and implement e-solutions in its routine operations like e-cargo and e-invoice.

CMIT general director Jan Bandstra said, in the context of continually rising demand for high-quality online services by our consumers, along with the healthy development of global digitalization, joining Tradelens facilitates immediate updates on cargo data, therefore directly supporting our customers’ supply chain planning efficiency.

“TradeLens is the industry leader, supported by the major shipping lines in developing blockchain solutions.”

TradeLens unites parties like beneficial cargo owners, inland transportation providers, freight forwarders, ports, and terminals in the supply chain on a single, secure data-sharing and collaboration platform.

Almost 100 organizations across the industry are now adopting TradeLens after Maersk and IBM released the platform in August. CMIT deputy general director Nguyen Xuan Ky said: “By way of illustration, a seafood container export from Vietnam to the US has more than 30 shipping milestones and shipment data at more than ten relevant entities with the requirement of close tracking.

When the cargo data is transparent and enabled seamless, real-time information sharing at different stages by different entities in the global supply chain will increase considerable efficiency for global trade flows.”

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