Mumbai: Shipwaves has joined Maersk-IBM built TradeLens platform. With this alliance, Shipwaves – a digital freight forwarder aims to propel digitization in the ocean logistics space, especially in India and the Middle-East.
Having recently allowed shipping bill of lading to be filed over a blockchain platform, India has been betting big on blockchain-enabled solutions to digitize its maritime supply chains.
Maersk-IBM built TradeLens platform
The Maersk–IBM built blockchain-powered TradeLens platform provides controlled, permissioned access to secure and immutable transportation documents. Bringing together stakeholders such as shipping carriers, ports, customs offices, and other players in the ecosystem through its blockchain-led platform.
By joining Maersk-IBM built blockchain-powered TradeLens platform, Shipwaves will be able to provide timely end-to-end supply chain visibility, secured sharing of digital shipping documents, and data directly from partners.
This will enable the forwarder to improve efficiency and decrease operational costs by a significant margin. Additionally, the smart-contract based workflows will automate and digitize multi-party interactions, which will result in improved efficiency.
“TradeLens is an industry-wide neutral platform aiming to spur innovation in the complex logistics industry. We aim to build a digital ecosystem that will drive benefits for all on the platform,” said Bimal Kanal, Head – TradeLens, South Asia.
“With Shipwaves collaborating with TradeLens, we have an important supply chain enabler furthering our joint desire of removing manual tasks and enabling digitized workflows in the logistics industry,” added Kanal.
“Our working with TradeLens marks a significant milestone which will enable us to digitize our customers’ operations and lead them into the blockchain era of global trade,” said Sajid Mohammed, COO – Shipwaves.
“We believe that the TradeLens platform will truly elevate our value proposition, allowing us to interconnect with shippers, carriers and other stakeholders. The best part is that all this will be done using the innovative technology that ensures security, trust and transparency,” added Mohammed.
Enabling freight forwarders with data direct from the source to enhance their offering to their clients is a key tenet of TradeLens.
Having directly connected with over 160 entities ranging from ocean carriers, ports, shippers, inland providers, and more, the granularity of data offered includes over 120 supply chain events including transportation plans, estimated and actual events.