Cái Mép International Terminal uses blockchain technology

Vessel Margrethe Maersk enters Cái Mép International Terminal (CMIT). The terminal recently adopted blockchain to better serve its clients. — Photo courtesy of CMIT

BÀ RỊA-VŨNG TÀU — As the world modernises at a mindboggling pace, more and more companies are switching to blockchain technology.

Cái Mép International Terminal (CMIT) says they are the first in their line of business to adopt blockchain to better serve their clients.

Earlier this month, CMIT announced it had joined the TradeLens digital platform, an open and neutral blockchain-based platform that is digitising the global supply chain and transforming trade.

A joint venture between Vinalines, Saigon Port and APM Terminals, CMIT is one of the largest terminals in Cái Mép-Thị Vải deep-water gateway port complex, which currently accommodates mainline vessels with a capacity up to 194,000DWT/21,500 TEU connecting Viet Nam with Europe, North America and Asia.

The move is part of CMIT’s commitment to innovate and apply e-solutions and high tech to ensure the business runs smoothly, said Jan Bandstra, General Director.

"Joining Tradelens enables immediate updates on cargo data, directly supporting our customers’ supply chain planning efficiency,” he added.

Nguyễn Xuân Kỳ, deputy general director says working in this high-tech way will ultimately increase efficiently.  

He said: “For example, if a seafood container is travelling from Việt Nam to the US it will be checked more than 30 times and data from more than 10 relevant entities will be required.

“When the cargo data is transparent with blockchain, it will increase the efficiency of global trade flows.”

According to Kỳ, the platform brings together all parties in the supply chain – including cargo owners, freight forwarders, inland transportation providers including rail and trucking, ports and terminals, ocean carriers, customs and other government authorities into a single, secure data-sharing and collaboration platform.

Developed in collaboration between Maersk and IBM, TradeLens is currently supported by more than 100 diverse organisations across the industry. — VNS