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DP World moves to Maersk and IBM blockchain
- June 3, 2020
- Steve Rogerson
Dubai-based logistics company DP World has completed the early stages of integration with TradeLens, a blockchain-based digital container logistics platform jointly developed by AP Moller-Maersk and IBM.
The collaboration between DP World and the TradeLens platform should help accelerate the digitisation of global supply chains. DP World aims to connect all its 82 marine and inland container terminals, as well as feeder companies and logistics divisions, with TradeLens. In 2019, DP World’s terminals handled 71.2 million TEU (twenty-foot equivalent units) containers from around 70,000 vessels.
TradeLens brings together data from the entire global supply chain ecosystem including shippers, port operators and shipping lines. It also aims to modernise manual and paper-based documents, replacing them with blockchain-enabled digital technology.
For DP World, the data from its integration with TradeLens should improve operational efficiency with earlier visibility of container flows across multiple carriers. Such visibility includes confirmation of the transport modality that follows the port stay for each container, which in heavy transhipment or rail ports enables better yard planning. It will also expand the capabilities of DP World’s digital platforms created to move logistics management online.
“Our decision to team up with TradeLens is driven by our vision for intelligent logistics, reducing costs and creating value,” said Ahmed Bin Sulayem, CEO of DP World. “DP World is working to deliver integrated supply chains to cargo owners, backed by our global network of ports, terminals, economic zones and inland operations. By working with TradeLens we will accelerate the digitisation of global trade. Modernising 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.”
TradeLens provides visibility across the entire supply chain, from booking to clearance to payments and is built on input from the industry including direct integrations with more than 110 ports and terminals, more than 15 customs authorities around the world and an increasing number of intermodal providers.
“It is very encouraging to see the continued adoption of the TradeLens platform among global logistics players as it helps global supply chain customers expand and explore the benefits of digital documentation flows,” said Vincent Clerc, CEO of ocean and logistics at Maersk. “In turn, the broadened geographic scope of the platform provides new opportunities for TradeLens ecosystem participants to innovate and develop digital offerings on the platform.”
DP World has already connected Cochin Port in India with the TradeLens platform. Plans to collaborate with other DP World business units, including the feeder line Unifeeder, have also been initiated.
“At its core, the TradeLens business model is an open and neutral platform to spur collaboration and digitisation between all parties in the supply chain ecosystem,” said Mike White, head of TradeLens. “We are excited to welcome DP World and eagerly await the creation of 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.”