South Asia Gateway Terminals (SAGT) in Sri Lanka has become the first terminal in the country to adopt the Blockchain Technology by collaborating with TradeLens, the digital platform jointly developed by AP Moller – Maersk and IBM. This move will help in accelerating the digitisation agenda of shipping industry in Sri Lanka by transforming manual, paper-based and time-consuming administrative processes into digital ones.
The collaboration with TradeLens will allow SAGT, a pivot for movement of cargo through South Asia, to bring together data from the entire global supply chain ecosystem that includes shippers, shipping lines, ports and many more supply chain players from around the world. This data, based on the Blockchain-powered TradeLens platform, will improve operational efficiency through better visibility of container flows across multiple modes.
Ted Muttiah, Chief Commercial Officer of SAGT said, “Digitisation and digitalisation offer all stakeholders to the supply chain significant operational cost efficiencies. SAGT is firmly committed to embracing technology in our efforts to constantly drive efficiencies towards an ‘Ease of Doing Business’ customer experience. The collaboration with TradeLens is a very important step forward in strengthening our digital agenda and staying ahead of the curve when it comes to digital transformation.”
TradeLens provides visibility across the entire supply chain, from booking to clearance to payments and is built on a wealth of input from the industry including direct integrations with more than 110 ports and terminals, 15+ customs authorities around the world and an increasing number of intermodal providers.
“TradeLens is an open and neutral platform that is digitalising the global supply chain ecosystem. With SAGT coming onboard, we have an important partner in South Asia which believes in our efforts of bringing efficiencies in logistics and thus helping our customers in bringing down cost of logistics”, said Bimal Kanal, Head of TradeLens, South Asia. “Our ambition is to have all stakeholders including shippers, shipping lines, ports, banks, custom authorities and so on, involved in the global supply chain to be on a common platform that will benefit the entire industry.”