Singapore — X-Press Feeders today announced they will join TradeLens, the blockchain-enabled digital shipping platform jointly developed by A.P.Moller-Maersk and IBM.
To date, 5 of the world’s 6 largest carriers have already committed to the platform, which enables a seamless and secure sharing of trade information. TradeLens aims to bring together all parties in the supply chain ecosystem onto its secured platform and it is said to have garnered more than 100 participants thus far.
We see ourselves as an integral part of the end-to-end supply chain and therefore are very pleased to participate in TradeLens
—Francis Goh, Chief Operating Officer, X-Press Feeders
“As a feeder operator, we serve our carrier customers on either the first or the last mile at sea (and sometimes both), and our ships interface with the ports in this fashion. It is therefore only natural that we intend to be an active player in promoting transparency and fostering collaboration with our customers and other stakeholders in this initiative,” said Francis Goh, Chief Operating Officer (COO) of X-Press Feeders.
X-Press Feeders operates a fleet of more than 100 vessels and 40 privately owned vessels. With more than 100 routes services and 200 unique port calls spreading across Asia, Middle East, Europe, Mediterranean, Africa & Latin America, this makes them the world’s largest and most geographically diverse common carrier.
In the journey of digitalizing the supply chain with a strong collaboration spirit, we look forward to the potential of achieving greater efficiency in the industry and unlocking greater value in the supply chain
—Steffanie Sim, Director of Group Projects and Global Customer Engagement, X-Press Feeders
“X-Press Feeders started our own digital transformation journey a while ago and we are eager to contribute in the digital collaboration with all major ocean carriers. said Steffanie Sim, Director of Group Projects and Global Customer Engagement at X-Press Feeders.
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.