Continuing its development strategy geared to innovation and the use of advanced technology, the Port of Montreal, IBM (NYSE: IBM) and A.P. Moller—Maersk (MAERSKb.CO) are proud to announce (Oct. 25) that the Port is joining the TradeLens solution, jointly developed by Maersk and IBM to promote more efficient and secure global trade.
Underpinned by blockchain technology, TradeLens aims to bring the shipping industry into the digital age through a secure interface exclusively dedicated to freight transport.
The Port of Montreal joins TradeLens alongside Canada Border and Services Agency (CBSA) as the two newest Canadian members of the global, blockchain-enabled shipping solution.
Digitizing the marine logistics ecosystem
With 5 container terminals, the Port of Montreal is Eastern Canada’s largest container port. The Port is unique in North America as a destination port where all container ships that arrive unload and reload one hundred percent of their contents. Visibility is paramount. Each vessel call implies a large number of shipping containers to coordinate with landside logistics such as railcar deliveries and truck services.
TradeLens will allow the Port to enhance its business intelligence for better resource planning based on inbound traffic with upstream visibility. The Port of Montreal is also unique in the fact it owns and operates its own railway within port territory. As a rail operator, the Montreal Port Authority highly values this upstream visibility to maintain high standards of fluidity and operational excellence.
“We applaud our partner Maersk for its vision and international leadership. We are convinced that joint work on a global scale is part of the key solutions to achieve a better flow of information and goods for the benefit of clients and partners. TradeLens is fully aligned with our objectives and business strategy centred on innovation and efficient shipping,” said Sylvie Vachon, President and CEO of the MPA.
Effective today, the Port is fully committed to the project in collaboration with Montreal Gateway Terminals Partnership, whose terminals receive Maersk vessels. Specifically, the Port of Montreal will provide data on the movements of Maersk vessels and containers. These data will be integrated into the platform to generate valuable business intelligence that will increase the visibility of cargo movement in Montreal’s logistics chain.
“The maritime industry faces rising cargo volumes and growing market demands. TradeLens is a powerful tool to modernize work processes and cut red tape,” said Jack Mahoney, President of Maersk Canada “With TradeLens, the Port of Montreal will be better able to control delivery and operation schedules, provide easier access to clearance and billing documents and bring greater fluidity, efficiency and transparency to international shipping.”
With 90% of goods delivered by ship and millions of containers moving between continents every year, this innovative initiative will, over time, help transform the industry.
“We believe blockchain can play an integral role in digitizing and reinventing shipping for organizations like the Port of Montreal, who are responsible for processing over 38 metric tons of cargo annually. TradeLens provides a common approach to building a strong, secure and connected digital shipping network that benefits all participants equally,” said Ayman Antoun, President, IBM Canada. “Our work with Maersk has shown that blockchain can be used to transform a vital part of how global trade is conducted as members like the Port of Montreal and CBSA begin to interact more efficiently, securely sharing important transactions through real-time access to shipping data and shipping documents.”
