DP World Set to Enter Blockchain Arena as it Signs up to TradeLens
DP World has entered the blockchain TradeLens platform, developed by Maersk and IBM. It has described plans to join its 82 terminals worldwide, as well as its feeder companies and logistics divisions. The Dubai-headquartered company stated the data from its alliance with TradeLens would enhance operational efficiency through earlier visibility of container flows over multiple carriers.
This would include “confirmation of the transport modality that follows the port stay for each container, which in heavy transshipment or rail ports enable better yard planning.” The intention to combine its feeder shipping line, Unifeeder, into Tradelens had started and that its blockchain-enabled digital solutions would “expand” the abilities of DP World’s currently revealed freight booking platforms, SeaRates, LandRates, and AirRates.
CEO Sultan Ahmed Bin Sulayem stated in a statement: “By working with TradeLens, we will accelerate the digitization of global trade. Modernizing the processes by which logistics operate is critical to building more robust and more efficient supply chains, which will help economic development and generate more prosperity.”
Mike White, chief executive of GTD Solutions and head of TradeLens, stated in a statement: “At its core, the TradeLens business model is an open and neutral platform to spur collaboration and digitization between all parties in the supply chain ecosystem. We are excited to welcome DP World and eagerly await new potential ways of working for shippers and consignees in global trade. With four of the five largest global port operators actively engaged with TradeLens, the coverage of the ecosystem continues to expand rapidly.”
TradeLens offers visibility over the complete supply chain, from booking to clearance to payments and is created on a wealth of input from the industry, including direct integrations with more than 110 ports and terminals, 15+ customs authorities worldwide, and an increasing number of intermodal providers. In 2019 DP World’s terminals handled 71.2m teu and served around 70,000 vessels.
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