Today, Global eTrade Services (GeTS) announced that leading shipping company Pacific International Lines (PIL) has joined their digital logistics platform. This platform, CALISTA, allows companies to manage their global supply chains digitally and part of the system uses blockchain.
Singapore based GeTS claims that CALISTA provides interoperability, and hence room for business growth, along with efficiency and security for shipping companies. Crucial shipping documents are stored securely and safe from tampering on a blockchain.
To ensure the validity of documents, for instance paperwork which permits cargo to leave the port is often couriered or securely mailed. This means delays and the possibility of document fraud.
Along with analytics and tracking, CALISTA uses GeTS’ blockchain, the Open Trade Blockchain (OTB), to provide verifiably genuine documents which can be shared nearly instantly. OTB, released last year, aims to eliminate shipping fraud, hence creating trust between freight companies.
The digitization of international shipping is at once competitive and collaborative. PIL, a top ten global shipping firm, already has multiple blockchain projects on the go. For example, this year it conducted a blockchain pilot with IBM for electronic Bills of Lading. Last August when the IBM / Maersk platform TradeLens soft launched, PIL was the only container shipping member which was not owned by Maersk. TradeLens is a direct competitor of CALISTA.
However, the holding company of GeTS, CrimsonLogic, sets itself apart by providing eGovernment services to Singapore. With its co-ownership by the government and the Singapore port authorities, GeTS hopes to make CALISTA the go-to logistics platform. PIL’s strong links in Asia make it a crucial partner for this ambition.
Indeed, the Chairman of GeTS, Eugene Wong, is “delighted to have PIL onboard with us.”
“The benefits of a global digital trade and supply chain platform that connects the trading community are aplenty and we are delighted to have PIL, a leading Asian Carrier to come onboard on CALISTA™ serving as a platform for their business growth,” he continued.
PIL’s Executive Director, Lisa Teo, agreed: “PIL is pleased to join the CALISTA™ platform and we are confident our customers will appreciate the time savings and cost benefits to them. This fits in well with our digitalisation strategy and we will continue to improve our processes, seeking ways to better facilitate trade within the intermodal transport logistics ecosystem.”