Algeciras Joins TradeLens Blockchain Movement
The Port of Algeciras has signed an agreement to collaborate with Maersk and IBM, joining the blockchain-based TradeLens platform.
The digital solution, which aims to improve the transparency of global supply chains, has already been adopted by other major ports in Spain like the Port of Valencia.
TradeLens enables multiple port and terminal partners to cooperate with one another, providing a single, shared view of transactions that is private and secure.
Dr. Francisco de los Santos, Algeciras Port Authority, discusses the digitalization of ports in a recent Port Technology technical paper
So far, the platform has already registered over 230 million shipping events worldwide and processed more than 20 million containers.
Algeciras’ decision to adopt the solution is part of the port authority’s innovation strategy, to exchange information more efficiently, share documentation safely and foster collaboration.
Other parties which have already signed up to TradeLens include major European ports, like the Port of Rotterdam, as well as leading operators from around the world such as PSA Singapore and International Container Terminal Services (ICTSI).
Mike White, TradeLens leader for Maersk, commented on the benefits of the solution: “Our joint collaboration model allows us to better address key feedback from ecosystem participants while ensuring TradeLens interoperability and data protection among Maersk, IBM and all ecosystem participants.”