The Port of Montreal has announced it will join TradeLens, the blockchain solution developed by Maersk and IBM to promote an efficient and secure global trade system.
According to a statement, TradeLens will allow the Port to improve its business operations as it will greatly increase upstream visibility and business intelligence.
Effective today, the Port will provide data on the movements of Maersk vessels and containers. This data will be integrated onto the platform to generate valuable business intelligence and increase cargo visibility in the supply chain.
With five container terminals, the Port is Eastern Canada’s largest container port. It is unique in North America as arriving containerships unload and reload one hundred percent of their contents.
It joins the 94 organisations that originally adopted TradeLens when it was launched in August 2018. Furthermore, it will interact more efficiently with partners, such as the Canada Border Services Agency (CBSA) by securely sharing important transaction documents and real-time data.
Find out what blockchain is and why the industry is so excited about by reading a Port Technology technical paper
Jack Mahoney, President of Maersk Canada, commented: “The maritime industry faces rising cargo volumes and growing market demands. TradeLens is a powerful tool to modernize work processes and cut red tape.
“With TradeLens, the Port of Montreal will be better able to control delivery and operation schedules, provide easier access to clearance and billing documents and bring greater fluidity, efficiency and transparency to international shipping.”
Sylvie Vachon, President of the Montreal Port Authrity, also commented: “We applaud our partner Maersk for its vision and international leadership.
“We are convinced that joint work on a global scale is part of the key solutions to achieve a better flow of information and goods for the benefit of clients and partners.
“TradeLens is fully aligned with our objectives and business strategy centred on innovation and efficient shipping”.