Category Archives: Maersk

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Spanish Port Authority to Explore Blockchain Logistics

Spanish Port Authority to Explore Blockchain Logistics

Spanish news outlet Europa Press reported yesterday that the Port Authority of the Bay of Algeciras (APBA) has signed an agreement to join the TradeLens platform, a blockchain-based logistics solution developed by multinational information technology company IBM and Danish business conglomerate Maersk.

The platform, launched in early 2018, was designed to digitize the global supply chain in order to provide transparency and foster a more secure and efficient exchange of information along the system using blockchain technology.

The system essentially stores data from different logistics operations and allows real-time management throughout the value chain to include shippers, freight forwarders, logistics operators, shipping companies, public administrations, and organizations.

The project has grown to accommodate over 100 organizations and has recorded over 230 million shipments consisting of over 20 million containers.

Algeciras is reportedly one of the busiest ports in Europe located in the south of Spain. It records one of the highest turnovers in the categories: container, cargo, and transshipment, having to host over 70 million tons of traffic annually.

Algeciras’ port is one of many other ports to include PSA Singapore, Port of Bilbao, PortConnect and Port of Philadelphia, joining the fourth industrial era of blockchain-based systems.

Hong Kong’s second-largest shipping container terminal Modern Terminals had also joined the TradeLens platform in November last year.

Last month, the Ministry of Science, ICT and Future Planning (MSIP) in South Korea announced that it would collaborate with the Ministry of Oceans and Fisheries (MOF) on a newly launched blockchain pilot to be trialed in one of the country’s largest shipping port in Busan – the second largest port of transit in the world and the fifth busiest in the world.

The blockchain is becoming a rather convenient approach for many logistics-based businesses to efficiently streamline processes, especially in the areas of freight management, supply chain monitoring and data security in ports.

 

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South Korea Looks to Blockchain With Samsung Tech to Improve Customs Service

Electronics giant Samsung is to develop a blockchain powered platform for use by the Korean Customs Services.

The IT arm of Samsung, Samsung SDS is basing the platform on Nexledger, currently used by businesses as a way of reducing expenses in managing financial transactions and data exchange.

Along with some other 48 organizations, including shipping and insurance companies, the South Korean Customs Service has signed up for the platform in order to streamline and track exported goods passing through customs. The blockchain platform will also aid the customs service in detecting forged documentation.

Samsung is not new to the blockchain industry and appears to be on a drive towards research and development in the new technology. It is currently committed to several new projects in the industry. Samsung is joining a number of other companies in exploring the idea of using blockchain logistics to streamline global supply chains. It is reported that the tech giant has already begun developing a distributed ledger system to monitor international shipments.

The blockchain is set to help shippers, ports, customs offices and many other parties in the global supply chain by replacing paperwork with irrefutable digital records. Blockchain could provide proof of provenance for goods by tracking them globally from the point of origin, manufacture, until the retail store shelf. Import details, fees, and taxes could all be programmed into smart contracts that release payments automatically once the conditions were met.

Recently, Samsung developed Cell 3.0, a platform which combines AI tech with company knowhow, and Banksign, a blockchain-based certification system. The adoption of this new platform is an indication that Samsung may envisage blockchain having a major role to play in the future of the company.

U.S. Customs and Border Protection (CBP), has announced that it will be testing a new blockchain shipment tracking system by combining a newly developed application, Legacy, and other system developed by the Department of Homeland Security (DHS)

Also, in the past month, IBM linked with Danish logistics company Maersk to launch its own blockchain shipping project, “TradeLens” involving 95 other organizations.

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