St Petersburg Signs up to TradeLens
TradeLens, the blockchain-based platform launched by Maersk and IBM, will formally launch in Russia after a Memorandum of Understanding (MoU) was signed with the Russian Ministry of Transport.
According to a statement from Maersk, it will be piloted by the Port of St Petersburg, Russia’s main container gateway.
The agreement was signed by Maersk CEO Soren Skou and Yuriy Tsvetkov, Deputy Transport Minister and Head of Federal Maritime and River Transport Agency.
It will enable the implementation of TradeLens on the Russian market with the aim of introducing digital documentation flow in what is currently mostly paper-based transportation processes.
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Speaking about TradeLens and its potential for improving the flow of cargo to and from Russia, Tsvetkov said: “The main result of the implementation of TradeLens, according to our expectations, should be an increase in the transparency of the Contracting procedure by distributing information about supply and demand, conditions and operations between many participants of the transport and logistics processes.”
Mike White, CEO and Head of TradeLens for Maersk, said: “TradeLens offers unprecedented benefits to all parties involved in the transportation process by bringing full transparency of cargo moves, while enabling seamless, secure sharing of real-time actionable supply chain information to all involved participants.
The TradeLens platform fosters collaboration and trust while improving user experience and lowering costs through digitisation. We are pleased to now start this journey in Russia, to expand the reach and value of our platform and its data to all participants.”
PTI reported in March 2019 that the Russian Ministry of Transport was going to trial TradeLens following extensive speculation in the Russian media, which cited leaked government documents.
TradeLens was launched in August 2018, a story PTI reported on, by Maersk and IBM after securing cooperation from 94 organizations across the world.