IBM And Maersk’s TradeLens Blockchain Tracking Platform Adds Largest Shipping Port In Oman
Salalah, the largest port in Oman, has signed up to IBM and Maersk’s blockchain supply chain platform TradeLens.
According to a Times of Oman report from Wednesday, the port has only recently been included in the shipping data project, in an attempt to make some digital transformations. TradeLens allows companies and shipping supply chains to share information on cargoes in real time, through its permissioned blockchain. This ensures increased efficiency and more transparency when it comes to international trades.
Salalah to Make Shipping Operations Transparent
As Times of Oman says, the Salalah port is trying to collaborate with other supply chain entities to make its operations digital. It’s believed TradeLens can be very helpful when it comes to bringing transparency to shipping operations. This is what Port of Salalah’s CEO, Mark Hardiman, had to say about using blockchain tech for the port’s operations:
“Adopting and incorporating blockchain technology into all aspects of the supply chain will not only enhance the attractiveness of Salalah for [ecosystem] companies but also support the development of new business models that can further leverage the geographical location of Salalah.”
TradeLens Has Welcomed Aboard Many Major Carriers Last Year
The TradeLens project has been launched in 2018. It has seen many of the most important carriers joining its platform last year, as in the beginning, shipping companies were reluctant to work with it because it was favoring only founding companies. At the moment, there are over 100 participants on the TradeLens platform, including shipping firms and port regulators or operators.
Thailand’s Customs Agency Also Working with TradeLens
In August 2019, Thailand’s customs agency integrated its shipment tracking procedures with TradeLens. The platform was antitrust exempted by the US Federal Maritime Commission to no longer be legally restricted when it comes to cooperating with US Shipping Act of 1984’s mandated shipping companies. According to reports, port of Salalah had a yearly volume of 4 million shipping containers in 2019, when it broke its own record.