Port Salalah Joins Tradelens To Smoothen Its Shipment Tracking Process

Port Salalah Joins Tradelens To Smoothen Its Shipment Tracking Process

Blockchain News
January 9, 2020 Editor's Desk
1903
The Port of Salalah lately became a member of the shipping data project as an element of its digital transformation efforts, according to a report in the Times of Oman on Wednesday. The platform allows companies with the shipping supply chain to share data on cargoes in real-time across its permissioned blockchain, eventually intending to
Port Salalah

The Port of Salalah lately became a member of the shipping data project as an element of its digital transformation efforts, according to a report in the Times of Oman on Wednesday.

The platform allows companies with the shipping supply chain to share data on cargoes in real-time across its permissioned blockchain, eventually intending to bring enhanced transparency and efficiency to international trade. The port is operating with other entities in the supply chain to digitize its services and sees TradeLens as a way to bring a global transparency standard to shipping operations, according to the Times.

“Adopting and incorporating blockchain technology into all aspects of the supply chain will not only enhance the attractiveness of Salalah for [ecosystem] companies but also support the development of new business models that can further leverage the geographical location of Salalah,” said Mark Hardiman, CEO of Port of Salalah.

Launched in 2018, The TradeLens project has seen some hesitation from shipping firms to sign up, partially due to the way the venture was set up to promote the founding companies. However, modifications to its business structure have advised several significant carriers to come aboard in the last year.

The platform presently has more than 100 participants – including five of the six largest container shipping firms as well as port operators and regulators. It is processing over “10 million discrete shipping events and thousands of documents each week,” according to previous statements from Maersk.

Last August, Thailand’s customs agency was reported to be uniting with TradeLens to streamline its shipment tracking procedures.

The project also received antitrust immunity from the U.S. Federal Maritime Commission. That started to clear the project from legal constraints in cooperation between shipping companies mandated by the U.S. Shipping Act of 1984.

The Port of Salalah recently broke its record, handling annual volume equivalent to four million shipping containers, according to the Times.

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