Turkey’s YILPORT Holding Joins Blockchain-Platform TradeLens
YILPORT Holding has become the latest and the first Turkish international container terminal operator to join blockchain-enabled shipping platform TradeLens to accelerate the digitization of global trade for importers and exporters across its network. The solution is jointly developed by Danish transport and logistics giant Maersk and IT major IBM.
Since July, YILPORT and TradeLens are in the process of integrating data from YILPORT Gebze and Gemport Terminals to the blockchain-based platform.
Coordination and communication skills are important in the logistics industry. The old-fashioned systems and manual document exchange can cause delays, confusion and inefficiencies that create waste in the supply chain.
The blockchain technology solution will offer YILPORT greater ease of doing business across the supply chain by digitalizing manual, paper-based and time-consuming administrative processes into blockchain enabled digital solutions.
For YILPORT, the integration with TradeLens will improve operational efficiency and bring together data from across the entire global supply chain ecosystem, including shippers, shipping lines, agencies, port operators, customs authorities, financial service providers and many more supply chain players.
More than 120 events in the supply chain can be tracked in near real time with data directly from the source like YILPORT’s connection. TradeLens makes it easy to view, control and manage end-to-end container shipping-related data.
The platform helps to reduce the processing time of paper documents, making it faster and easier to issue bills of lading for cargo, sanitary certificates, invoices for payment and other types of documentation.
TradeLens provides visibility across the entire supply chain, integrating data from more than 110 ports and terminals, more than 15 customs authorities around the world, and an increasing number of intermodal providers. These represent about 234 marine gateways or seaports on five continents.
YILPORT is among more than 150 diverse organizations worldwide involved in the TradeLens platform, which was launched in August last year, just six months after the blockchain collaboration between IBM and Maersk was announced in January 2018.
According to the data collected by the system, the use of TradeLens is claimed to reduce the transit time of a shipment by 40 percent, which represents thousands of dollars in cost saving.
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