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Sri Lanka’s first PPP terminal adopts TradeLens Blockchain to digitize shipping processes

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The South Asia Gateway Terminals (SAGT) in Sri Lanka, has adopted the TradeLens Blockchain through a partnership, to facilitate the digitization of its operations. Notably, the container terminal is said to be the first Public-Private Partnership (PPP) to have operated in the country, and it serves several shipping lines. 

SAGT adopts TradeLens Blockchain platform

A recent report informed that SAGT reached a partnership with TradeLens, developed by IBM and Maersk. This would enable Sri Lanka’s terminal to digitize most of the shipping process using the TradeLens blockchain platform. The development is part of SAGT’s effort in integrating new technologies to boost its efficiency in operations.

Ultimately, the terminal aims to digitize the time-consuming, paper-based, including manual processes. Also, the collaboration will enable SAGT to curate multiple data across supply chain ecosystems around the globe, using TradeLens blockchain. This data will inform container flows from several modes, which could help enhance operational efficiency.

While commenting on the development, Bimal Kanal, one of the executives at 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.”

Sri Lanka shipping line

From Sri Lanka, SAGT facilitates trade globally, as it serves many shipping lines across the world. It is considered as one of the largest terminals for cargo movements through South Asia and handles more than two million TEU containers on a yearly basis. 

“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,” says Ted Muttiah, Chief Commercial Officer of SAGT.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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