SANTIAGO, CHILE: 2 June 2021— KLog.co, a digital-first freight forwarder, has joined TradeLens, a blockchain-enabled container logistics platform, jointly developed by A.P. Moller - Maersk (MAERSKb.CO) and IBM (NYSE: IBM). KLog, known as an innovator in the Latin American market, aims to help democratize trade in the region, a goal enhanced by participation in TradeLens
KLog’s digital platform provides timely end-to-end supply chain visibility and secured sharing of digital shipping documents, which will be complemented by the global scope of TradeLens and integration of additional data to enhance their digital tool kit. The timely data capture via APIs directly from TradeLens will help improve efficiency, decrease operational costs and advance KLog’s goal of opening up international trade to all companies in the region, no matter the size of the business.
“KLog are pioneers in developing integrations with important players in the logistics industry, collaborating to digitalize trade to benefit our customers. We are excited to join with TradeLens and its shared goal of democratizing trade for all. Our logistics platform aims to be intuitive and simple, centralizing and ordering information, tracking shipments, incorporating alerts to avoid extra costs and creating the ability to automate workflows." said Janan Knust, Founder & CEO of KLog.co
Enhanced by global supply chain data sourced in near real time from TradeLens, we will be able to amplify our supply chain analytics for customers and continue to offer tools to efficiently manage international trade. - Janan Knust, Founder & CEO of KLog.co
Data enhancements planned for integration include data ‘direct from the source’ that will improve KLog’s own AI and predictive ETAs. Additionally, updates to the transportation plans, published directly by the ocean carriers to the TradeLens platform, can be consumed in near real time by KLog’s customers. Changes to Transport Plans are an essential data set allowing freight forwarders the ability to review routings and determine appropriate contingencies, if required, for their clients. To be proactive, changes need to be captured as soon as possible.
Janan Kunst elaborated, “Real-time insight into logistics data is critical. It’s no use if an update comes through days or even hours after an event has occurred, especially when we consider clients expectations for speed of information and desire for knowing where their cargo is at all times”.
Integrating with digital first companies like KLog is validation that TradeLens is spurring innovation in the maritime industry. - Mike White, CEO of GTD Solution Inc., and Head of TradeLens
"Combine this with a Latin American ecosystem that has developed substantially since TradeLens was launched, and you have an environment where companies can simplify their international trade experience with increased transparency and access to data through strong local partners.”- Mike White, CEO of GTD Solution.
TradeLens is already directly integrated with 5 ocean terminals and 4 inland depots in Chile, plus an additional 23 terminals, 10 inland depots within Latin America. Trucking integration has also started with coverage in four countries in the region. A single API integration with TradeLens allows freight forwarders and beneficial cargo owners to access end-to-end supply chain data, leading to improved planning, data analysis and ultimately better customer service.
KLog’s rapid growth continues within the Latin American region. They recently opened an office in Peru (link) and have plans for offices in Bolivia, Colombia, Uruguay and Mexico. Building off a strong digital platform and using a digital first approach has allowed continued expansion to move ahead rapidly and confirm KLog as a regional leader in the digital logistics space.
Enabling freight forwarders with data direct from the source to enhance their own offering to their clients and close data gaps is a key TradeLens priority. Launched in 2018, the TradeLens ecosystem now includes more than 300 organizations – extending to more than 10 ocean carriers and encompassing data from more than 600 ports and terminals. Already it has tracked 35 million container shipments, 2 billion events and roughly 16 million published documents.
Through talent and a tech first vision, KLog.co has positioned themselves as the first company in LATAM to democratize international freight and trade in the region. In just eight years KLog has been a leading innovator in the digitalization of international freight, optimizing processes and costs while creating a user- friendly experience in what can frequently end up being a headache! Through their intuitive digital supply chain platform, users can book and follow their shipment fully online, while being able to control and measure their performance. KLog.co is always pushing boundaries, with the hopes of making the logistics ecosystem better for all.
The TradeLens platform has been jointly developed by Maersk and IBM. TradeLens is an open and neutral industry platform underpinned by blockchain technology, supported by major players across the global shipping industry. The platform promotes the efficient, transparent, and secure exchange of information in order to foster greater collaboration and trust across the global supply chain.
The global acceptance of eBL is in motion, how can MLETR and other legislative initiatives help?
We sat down with senior global trade experts, Diana Jones, Director of Solution Architecture, and Juanjo Ruiz, Strategy and Business Development at TradeLens to discuss the proliferation of electronic bills of lading (eBL) and the disruption of blockchain as an emerging technology with a substantial opportunity to support banks with unlocking a $3.4 trillion trade gap in the trade finance market. The following is a Q&A on these topics.
Bangladesh/Hong Kong – Citi Treasury and Trade Solutions (TTS) Asia Pacific has completed its first pilot paperless trade finance transaction using the TradeLens platform. Leveraging blockchain technology supplied by TradeLens, the pilot illustrates the effectiveness of the technology to improve supply chain efficiency by significantly reducing document processing lead times.