The Serbian company CargoX’s platform for Blockchain Document Transfer (BDT) has been chosen by Portall Infosystems to improve document processing and the flow of goods through Indian ports. CargoX has entered into a formal partnership with Portall Infosystems, the company responsible for developing India’s electronic port community system, to digitalise the processing of bills of lading and the transfer of trade documents.
It is reported that Portall Infosystems has successfully tested CargoX’s BDT platform, assessing its ability to handle the requirements of India’s maritime sector, particularly in terms of processing electronic bills of lading. There is currently a backlog of goods at Indian ports as a result of the Covid-19 pandemic, and accelerating the use of smart technologies and innovations, such as an electronic bills of lading, is considered vital to clear the backlog.
Portall is promoted by JM Baxi Group, India’s leading integrated logistics, services, and transportation conglomerate. The Indian port community system has reportedly seen a 300% increase in users since 2018, when Portall won the tender to upgrade the system.
In a statement CargoX said, “In these times of multiple risks to our common society, we are proud to help shipping companies resolve supply chain document sending issues and enables them to meet delivery deadlines everywhere in the world, in a secure and efficient manner, while also lowering the document transfer cost.”
CargoX is the only global block chain offering IGP&I cover and provides a simple and robust platform for the transfer of smart bills of lading, supporting a wide range of uses and document categories. Shipping, maritime and supply chain stakeholders can digitise and streamline documents digitally by logging on and accessing CargoX services.
Dhruv Kotak, Managing Director of Portall, says, “I am really pleased with the solution and the team behind CargoX. I hope they can help us finally solve the problems that relate to dependence on paper documents in India and most parts of the world. The time has truly come to put an end to this and we hope to put an end to this together.”
In a further development highlighting the acceleration of digitalisation, DP World has completed the early stages of integration with TradeLens a blockchain-based digital container logistics platform, jointly developed by A.P. Moller – Maersk and IBM. DP World aims to connect all its 82 marine and inland container terminals, as well as feeder companies and logistics divisions, with TradeLens. DP World has already connected Cochin port in India with the TradeLens platform through API technology. Plans to collaborate with other DP World business units, including the feeder line Unifeeder, have also been initiated.