Category Archives: Blockchain shipping

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Russian Cargo Shipper to Use Blockchain for Port Logistics

Russian Cargo Shipper to Use Blockchain for Port Logistics

Prominent logistics company Baltika based in Russia is working on a blockchain-based solution for improving and immuting its port operations, according to Russian media outlet Morvesti. For this purpose, the company has inked a new deal with a Moscow-based blockchain company Iconic.

The new DLT-based solution will reportedly allow Baltika to store all necessary shipping related information on the blockchain and thus benefit from its transparency and immutability. According to the news report, all allied information like tug boat rentals, and vessel parking will also be available in the digital system and the service providing boats can be ordered and tracked online without any need of inefficient paperwork.

According to Baltika, the decentralization will allow the company to reduce the timing of port operations from several hours to just 25 minutes. It will also help save one hour of boat operations during the unloading process which can be quite cumbersome.

Baltika is planning to use the system in 14 major ports all over Russia and other parts of Europe where it is operating like Italy and Cyprus. Baltika uses over 3,000 ships every year and every improvement in the timing process will save the company money and make them more competitive.

The shipping industry is working on a number of blockchain-based solutions for solving inefficiencies and increasing their productivity. IBM’s Hyperledger blockchain is being used by dozens of ports around the world in partnership with Maersk, the world’s largest shipping company. Smaller companies like Baltika are now trying their hands on their DLT-based solutions to remain competitive in the sector.

 

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Valencia Port Joins Maersk in IBM Blockchain Shipping Project

The Port Authority of Valencia, Spain (POV) has announced that it has joined the TradeLens blockchain shipping platform co-developed by tech giant IBM and shipping magnate Maersk.

The platform itself was launched back in August this year and it uses DLT for global supply chains. Ports and shipping are a primary part of the supply chain process. Recently, the Port Authority of Rotterdam had also joined the platform to become a part of the new decentralized shipping revolution. UK’s top port operator signed an agreement with Marine Transport International to develop blockchain-based logistics system for its port operations.

The TradeLens system is seeking to improve efficiency and security of supply chains. They can include shipping lanes, port and terminal operators, taxation and duties watchdogs and other concerned parties. The platform can be used to access the data and the documents involved, thus making it simpler and much more effective.

The Port Authority of Valencia has now integrated the platform and has become an “early adapter” of TradeLens. It means that the port will now take part in the early development of the system. There are 20 participants in the early adaptation platform.

TradeLens is gaining traction for supply chain systems as it has already processed more than 154 million shipping-related data transactions including information on container shipping, warehouse timing and customs documentation. According to early estimates, the blockchain-based system can be used to cut shipping times by almost 40%.

The POV has unveiled plans to develop a smart port which is based on blockchain and big data technologies since the start of October this year. According to the person-in-charge of implementing new technologies, Jose Garcia De La Guia, DLT-based systems can improve supply chain logistics on a global scale and thus help create fully electronic ports with no paperwork which can help reduce the maintenance times and increase efficiency.

 

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