South Asia Gateway Terminals (SAGT), the first Public Private Partnership (PPP) container terminal in Sri Lanka, has joined TradeLens and in doing so become the first terminal in the country to adopt blockchain technology.
In a statement, A.P. Moeller-Maersk (Maersk) said the move will help in accelerating digitisation of the shipping industry in Sri Lanka by transforming manual, paper-based administrative processes.
Maersk said SAGT has played an important role in facilitating global trade through Sri Lanka by serving most of the world’s shipping lines and is working towards turning the country into a major hub.
The collaboration with TradeLens will allow SAGT 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.
“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,” said Ted MuttiahChief Commercial Officer of SAGT.
“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.
“SAGT is a flagship company on the Board of Investment in Sri Lanka and we are excited to be a part of the digital journey that TradeLens offers the Sri Lankan shipping and logistics industry.”
“TradeLens is an open and neutral platform that is digitalising the global supply chain ecosystem,” commented Bimal Kanal, Head of TradeLens, South Asia.
“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.
“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.”