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How Blockchain-based Platform, Tradelens is Transforming the Shipping Industry

  By David Drake   After months of collaboration, starting June 2016 between IBM and Maersk shipping company, Tradelens blockchain shipping platform was launched in August of 2018. This launch marked the opening and commercialization of the platform for wider industry infiltration. According to IBM and Maersk, Tradelens will solve problems peculiar to the shipping industry such as too much paperwork, inefficient clearance processes and cumbersome peer-to-peer messaging that often results in high operational costs. Despite the attractive potential of TradeLens, most industry players were skeptical to join the platform at first as they viewed it as an extension of Maersk operations. This meant it would not be open and neutral to other stakeholders. Confirming this perception, the head of IBM Tradelens, Marvin Erdly admitted to CoinDesk that the platform was struggling to get sign ups from other shipping carriers two months down the line. A Win for All This ... Read More »

Can the Transport and Logistics Sectors Take the Lead in Blockchain Mass Adoption?

  By David Drake   Whenever blockchain technology is mentioned, it is highly probable that the financial sector is the first thing that comes to mind. But the distributed ledger technology is making significant headways in other sectors and one of the sectors that is reaping benefits from adopting this technology is supply chain. As trade continues to grow, the supply chain continues to become complex. This stems from the growing number of players in the chain resulting to numerous transactions going back and forth. Such inefficiencies lead to increased time lags, overbookings and, in some  instances, no-shows where communication lines become faulty. This is especially so in the busy shipping industry. Generating Value To increase efficiency in the supply chain space, IBM partnered with Maersk to develop a blockchain-based digital platform known as Tradelens, which major players in the transport space continue to adopt. Spanish port, Authority of the ... Read More »

Major Spanish Port Latest to Use Blockchain in Shipping

  By David Drake   The Port Authority of the Bay of Algeciras (APBA), a major Spanish shipping port, recently signed up to use the Tradelens, the shipping platform developed by IBM. Tradelens was developed in conjunction with Maersk, the international logistics giant. Shipping and logistics are considered low hanging fruits when it comes to early adoption of blockchain-based features into daily operations. Retail giants such as Walmart and Carrefour have ramped up their supply chain management using blockchain, and with APBA coming onboard, this could mean broader adoption of this burgeoning technology. Many logistic companies have already begun using blockchain. APBA processes over 70 million tons of cargo annually, which equates to approximately 4 million containers. It is one of the top 10 busiest ports throughout Europe, and blockchain is meant to make tracking of its huge loads of cargo a lot easier. Increasing Efficiency These port companies are ... Read More »

” IS GREEK SHIPPING UNDER THREAT? “

Mr. Anastasios A. Maraslis

   ” IS GREEK SHIPPING UNDER THREAT?” by Mr. Anastasios Maraslis        S.T.I.C’s CEO/President.   Greeks dominate the seas since ancient times and Shipping has been the oldest form of occupation of the Greeks until today. The Greek ownership merchant fleet is the largest in tonnage capacity exceeding the 17% of the world’s total. Despite the past decades several economic recessions and shipping crises Greeks were always managing to come out of stronger and better off, with more ships than before. Their inherent talent to buy and sell timely, to manage their fleet economically during the recessed periods and the low freight, throat cutting competition, downturn shipping cycles – has been their distinctive advantage compared to other shipping nations. It’s been an International shipping standard to follow the Greeks in recessed periods and “do as they do”, until the decade of 2000. In the decade of 2000 shipping business and world trade ... Read More »

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