Sri Lanka’s SAGT joins global blockchain freight platform

ECONOMYNEXT – Sri Lanka’s South Asia Gateway Terminals had joined Tradelens, a global blockchain driven information sharing platform developed by AP Moller – Maersk and IMB Sri which already had more than 115 terminal and 15 customs agencies on board.

“The collaboration with TradeLens will allow SAGT to bring together data from the entire global supply chain ecosystem that includes shippers, shipping lines, ports and many more supply chain players from around the world,” the logistics group said.

“This data, based on the Blockchain-powered TradeLens platform, will improve operational efficiency through better visibility of container flows across multiple modes.”

SAGT handles more than two million containers a year and is Colombo port’s first privately built terminal.

“Digitisation and digitalisation offer all stakeholders to the supply chain significant operational cost efficiencies,” Ted Muttiah, Chief Commercial Officer of SAGT said.

“SAGT is firmly committed to embracing technology in our efforts to constantly drive efficiencies towards an ‘ease of doing business’ customer experience.

“The collaboration with TradeLens is a very important step forward in strengthening our digital agenda and staying ahead of the curve when it comes to digital transformation.”

TradeLens says it is an open and neutral platform that is digitalising the global supply chain.

“With SAGT coming onboard, we have an important partner in South Asia which believes in our efforts of bringing efficiencies in logistics and thus helping our customers in bringing down cost of logistics”, Bimal Kanal, Head of TradeLens, South Asia said.

“Our ambition is to have all stakeholders including shippers, shipping lines, ports, banks, custom authorities and so on, involved in the global supply chain to be on a common platform that will benefit the entire industry.”