The Port of Salalah, the largest port in Oman, has joined blockchain-enabled global shipping initiative TradeLens.
Centrally located at the crossroads of trade between Asia and Europe, the Port of Salalah operates both a container terminal and a general cargo terminal. With over 2.5 billion consumers, it serves the markets of East Africa, the Red Sea, the Indian Subcontinent and the Arabian/Persian Gulf on its doorstep.
TradeLens, jointly developed by Maersk and IBM, is a global trade platform built on IBM blockchain that is designed to reduce the cost of global shipping, improve visibility across supply chains and eliminate inefficiencies stemming from paper-based processes. It currently has more than 100 participants and is already processing over ten million discrete shipping events and thousands of documents each week, providing shippers, carriers, freight forwarders, customs officials, port authorities, inland transportation providers, and others a common view of transactions.
The Port of Salalah, which recently handled record yearly volume of 4 million TEUs, said that it joined TradeLens as part of its digital initiative to enhance customer experience. The TradeLens platform will reportedly provide SPS and its customers the ability to securely provide end-to-end supply chain information, seamless data sharing and new avenues for collaboration which will result in improved trade flows via the port.
“Joining TradeLens is an important step forward for Port of Salalah in supporting the modernizing of the trade ecosystem,” said Mark Hardiman, the Chief Executive Officer of Port of Salalah. “Logistics has been identified as one of the key pillars for economic diversification for the Sultanate of Oman. Adopting and incorporating blockchain technology into all aspects of the supply chain will not only enhance the attractiveness of Salalah for these companies but also support the development of new business models that can further leverage the geographical location of Salalah.”
Thomas Sproat, Director of Network Development at Maersk GTD, said that the addition of the Port of Salalah continues to enhance a strong ecosystem for TradeLens in the Middle East.
“This ecosystem has the ability to leverage blockchain as one of the major components in spurring further innovation in the region,” Sproat said. “Integrating data with an important customer such as the port of Salalah is an important milestone for TradeLens and is a stepping stone for collaboration and will open up new ways of working across the supply chain ecosystem to increase efficiencies and visibility for those involved.”