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(Hong Kong) Modern Terminals Limited today announced its participation as a Network Member in TradeLens, jointly developed by A.P. Moller – Maersk and IBM to apply blockchain to the world’s global supply chain. TradeLens seeks to digitize and streamline processes in the global supply chain to deliver higher efficiency and lower cost.

The objective of Modern Terminals’ participation as a Network Member is to evaluate the performance of TradeLens and to offer suggestions on where the technology can improve.

Peter Levesque, Group Managing Director of Modern Terminals Limited said, “TradeLens uses blockchain to create an industry standard for the secure digitization and transmission of supply chain documents around the world. This initiative will generate tremendous savings for our industry over time while enhancing global supply chain security. Modern Terminals is pleased to participate as a Network Member in testing this exciting shipping industry innovation.”

Over the last several years Modern Terminals has made significant investments in information technology and port infrastructure to be able to provide customers with state of the art port services. Participation in TradeLens, and the future use of blockchain to streamline and secure supply chain documentation is an important part of the Company’s direction.