TradeLens blockchain tehcnology shipping solution adopted by CMIT

Vietnam’s Cai Mep International Terminal (CMIT) has adopted the TradeLens shipping solution, which supports blockchain technology.

CMIT is a joint venture (JV) comprising Vinalines, Saigon Port and APM Terminals and is one of the largest terminals in the Cai Mep – Thi Vai deepwater gateway port complex.

The terminal is capable of accommodating mainline vessels with a capacity up to 194,000 deadweight tonnes (dwt) / 21,500 twenty-foot equivalent units (TEU), connecting Vietnam with markets in Europe, North America and elsewhere in Asia.

It serves as a key link in global trade and aims to innovate and apply e-solutions in its routine operations such as e-invoice and e-cargo.

CMIT general director Jan Bandstra said: “In the context of constantly increasing demand for high-quality online services by our customers, along with the robust development of global digitalisation, joining Tradelens enables immediate updates on cargo data, hence directly supporting our customers’ supply chain planning efficiency.

“TradeLens is the industry leader, supported by the major shipping lines in developing blockchain solutions.”

The open and neutral blockchain-based platform TradeLens unites parties such as beneficial cargo owners, freight forwarders, inland transportation providers, ports and terminals in the supply chain onto a single, secure data-sharing and collaboration platform.

More than 100 organisations across the industry are now using TradeLens after Maersk and IBM released the platform in August.

CMIT deputy general director Nguyen Xuan Ky said: “By way of illustration, a seafood container export from Vietnam to the US has more than 30 shipping milestones and shipment data at more than ten relevant entities with the requirement of close tracking.

“When the cargo data is transparent and enabled seamless, real-time information sharing at different stages by different entities in the global supply chain will increase considerable efficiency for global trade flows.”