UK’s leading port operator, Associated British Ports (ABP), has signed an agreement with digital logistics enabler Marine Transport International to develop blockchain use for port logistics, Dry Bulk magazine reports Wednesday, September 19.
Under the agreement with Marine Transport International, ABP — which operates in 21 ports and carries out 25 percent of the cargo shipments in Great Britain — will take part in pilot shipments using blockchain technology.
According to Dry Bulk, each party in ABP’s supply chain lacks connection with others, as port operators, carriers, and shippers use different systems. As a blockchain solution for port logistics could reduce time spent on the manual review of scattered data, Jody Cleworth, founder and CEO of Marine Transport International, noted:
“With blockchain, we can connect all those systems to ensure data is accurately and quickly shared, helping speed-up and simplify the flow of trade in and out of the UK.”
Earlier in June, Denmark revealed its plans to implement blockchain technology to register ships in local ship registers. A subsidiary of Abu Dhabi Ports has also launched its own domestic blockchain solution for logistics.
In May, Fred Smith, CEO for global delivery service FedEx, commented on the benefits of blockchain for supply chains, calling the technology "the next frontier that's going to completely change" the whole industry.