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India’s largest private port operator works with TradeLens, the blockchain platform

May 27, 2020

Adani ports and Special Economic Zone Limited (Apsez), the largest multiport operator in India, worked with TradeLens, the blockchain-based supply chain solution platform.

APSEZ plans to integrate TradeLens blockchain solutions into 10 of its major messaging management facilities in ports in six states of India, four in Gujarat and one in Odisha, Tamil Nadu, Goa, Chennai, Andhra Pradesh and Kerala.

Digitization to contain the shortcomings in the supply chain uncovered by the pandemic

According to Business Line, the local business media company, The APSEZ initiative to digitize its supply chains aims to reduce the impact of vulnerabilities in the current traditional supply chain system. The Covid 19 pandemic revealed the disadvantages of the current supply chain, which is heavily dependent on paperwork and manual processes.

India’s largest private port operator works with TradeLens, the blockchain platformIndia’s largest private port operator works with TradeLens, the blockchain platform

The report quotes an anonymous representative of the logistics industry as saying:

“During the pandemic, we recognized the price of not digitizing the industry. There will be a change of opinion every now and then.” Other companies will take over the technology“”

TradeLens is expected, developed by Maersk and IBM, help APSEZ to make information exchange more efficient transparent and safe in terms of time and costs.

A study by QBIS Consulting on total transport and logistics costs (TTLC) estimated this By digitizing the supply chain workflow, importers in a single large port can save up to $ 220 million annually. Exporters could also save approximately $ 40 million annually. The savings at the national level could be up to $ 860 million.

Digitization of supply chains worldwide

TradeLens has made steady progress in partnering with key players in the industry to digitize their supply chains.

In December 2019 TradeLens announced its partnership with an important Asian shipping terminal, the Cái Mép International Terminal. The following month, Oman’s largest port, The port of Salalah has also partnered with the company to digitize its supply chain. Cointelegraph reported in March that Standard Chartered was the first bank to join the TradeLens platform.

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