Major Asian Shipping Terminal Joins TradeLens Blockchain Platform

Cái Mép International Terminal (CMIT) of Vietnam has joined the TradeLens blockchain platform.

On Dec. 19 a local publication made the announcement. CMIT is located in Ho Chi Minh City of Vietnam.

CMIT is one of the largest terminals in the Cái Mép-Thị Vải deep-water gateway port complex that provides a direct link from Vietnam to European, North American and Asian markets.

The general director of CMIT Jan Bandstra said that the decision to join the blockchain-based program was driven by customer demand for instant shipping data. Having transparent, accessible cargo data is essential for the complexities of the global shipping industry.

CMIT deputy director Nguyen Xuan Ky added:

“A seafood container export from Vietnam to the U.S. has more than 30 shipping milestones and shipment data at more than 10 relevant entities with requirement of close tracking […] real-time information sharing at different stages by different entities in global supply chain will increase considerable efficiency for global trade flows.”

TradeLens- Developed In Partnership With IBM and Maersk

TradeLens platform is the leading the industry standard in the global shipping industry. Developed in partnership with IBM and Maersk, the open and neutral blockchain-based platform aims to streamline labyrinthine supply chains. 

On a Sept. report Thailand custom agency fused with IBM Maersk’s Tradelens. The merger is expected for an establishment of a well-organized tracking and information sharing.

Meanwhile, the Singapore Shipping Association, the International Chamber of Commerce and blockchain firm Perlin are working together on an e-registry for ship registration and renewal process.

Source: Cointelegraph | CMIT

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