The Port Authority of the Bay of Algeciras (APBA) has signed an arrangement under which it will collaborate with IBM on its own shipping stage Tradelens, Europa News reported on Jan. 21. Tradelens is an electronic platform based on blockchain technology produced by both IBM and global shipping giant Maersk.
Algeciras is among the top 10 busiest ports in Europe, hosting over 70 million tons of cargo traffic annually. In 2017, the vent had a container throughput of 4.3 million containers.
According to a APBA note seen by Europa News, the platform enables APBA to more securely and efficiently exchange information and documentation involving spouses within a supply chain. Per the notice, the system will create value for shippers, freight forwardersand logistics operators and transport companies.
Europa Press claims that by the end of 2018, the solution onboarded over 100 organizations and 20 port operators. Tradelens has reportedly registered 230 million shipments and processed more than 20 million containers.
Leading port operators have been implementing blockchain technology to streamline their operations. In October 2018, the Port of Rotterdam in the Netherlands partnered with important Dutch lender ABN AMRO and the IT subsidiary of Samsung to test blockchain for shipping.
Back in June 2018, a subsidiary of Abu Dhabi Ports became the first thing in the country to set up its own blockchain alternative. The subsidiary, Maqta Gateway LLC, developed and launched Silsal -- a blockchain-based technology which aims to increase efficiency in the shipping and logistics sector.
The leading port operator in the United Kingdom, Associated British Ports, signed an arrangement in September 2018 with digital logistics enabler Marine Transport International to develop blockchain for port logistics.