CMIT Becomes 1st Terminal in Vietnam to Join TradeLens
- Business & Finance
Vietnam’s Cai Mep International Terminal (CMIT), a joint venture between Vinalines, Saigon Port and APM Terminals, has joined the TradeLens digital platform in support of the blockchain technology.
CMIT is one of the largest terminals in Cai Mep – Thi Vai deep-water gateway port complex, which currently accommodates mainline vessels with a capacity of up to 194,000= dwt/21,500 TEU connecting Vietnam directly with main markets in Europe, North America and Asia.
The terminal has already been applying e-solutions such as e-invoice and e-cargo to its daily operations. CMIT is now joining Tradelens with the purpose of adding a new digital platform to deliver better service.
“In the context of constantly increasing demand for high quality online services by our customers, along with the robust development of global digitalization, joining Tradelens enables immediate updates on cargo data, hence directly supporting our customers’ supply chain planning efficiency,” Jan Bandstra, General Director, CMIT, explained.
“By way of illustration, a seafood container export from Vietnam to the US has more than 30 shipping milestones and shipment data at more than 10 relevant entities with the requirement of close tracking,” Nguyen Xuan Ky, CMIT Deputy General Director, said.
Xuan Ky added that real-time information sharing at different stages in the global supply chain will increase efficiency for global trade flows.
TradeLens is a solution jointly developed by Maersk and IBM to apply blockchain to the global supply chain. It provides end-to-end supply chain information, facilitating data sharing, collaboration and improved trade flows. It is now supported by more than 100 industry players such as CMA CGM, Hapag-Lloyd, ONE, APM Terminals, PSA and others.