The 7th annual Sea Asia was held last week, bringing together global maritime professionals to participate in the conference that runs in conjunction with Singapore Maritime Week. Held at the Marina Bay Sands in Singapore, Maritime Week draws over 45,000 participants, 15,000 of whom attend Sea Asia.
Speakers at Sea Asia delved into the key areas of the shipping industry, providing attendees with the opportunity to hear about the latest insights, products, and services. Industry thought-leaders addressed issues facing the market today and discussed potential solutions from a commercial perspective.
Vijay Anand, Global Industry Leader for IBM participated in a panel that covered the applications of blockchain technology in shipping. Joining Vijay on the panel was Mohd Shahrin Bin Osman, Regional Manager, Maritime Advisory for South East Asia, Pacific & India, for DNV GL and Martijn Thijsen, Digital Strategy, Transformation and Business Development for the Port of Rotterdam.
The panelists discussed the challenges facing the ocean freight industry today, and how digitalization, automation, and blockchain are key drivers in solving them. TradeLens was a focus of the conversation in large part due to its document sharing capabilities which leverage permissioned-access, one of the most powerful features of blockchain technology.
In addition to three days worth of sessions, there was an expo hall that showcased the latest technology from more than 500 organizations, TradeLens included. The full exhibitor list can be found here.
The roundtables delivered excellent value: They were an opportunity to dive into specialized topics and consider how professionals around the world are handling them. The TradeLens team joined, “Managing transformative change within the global maritime industry,” and, “Platforms to help keep up with digital transformation,” both of which provided opportunities to discuss the benefits and advantages TradeLens provides.
Singapore is widely recognized as one of the most important shipping hubs in the world, and the Sea Asia event supported that influence with an impressive lineup of speakers, content, networking opportunities, and education. We were proud that TradeLens could be a part of it.
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.