Holt Logistics Tests Maersk-IBM Blockchain Platform

Announcements, Blockchain | April 20, 2018 By:

Logistics management solutions provider Holt Logistics Corp. is conducting a pilot based on a blockchain global trade digitization solution developed by Denmark-based shipping giant Maersk Line and IBM.

Founded in 1926, Holt Logistics Corp. is a technology, marketing and corporate service organization, providing logistics management solutions in dynamic segments of the transportation industry. Through its affiliates, Holt Logistics operates both the Packer Avenue Marine Terminal in South Philadelphia and the Gloucester Marine Terminal in Gloucester City, NJ, allowing the company to handle both containerized and break-bulk cargo imports from the South Pacific, Europe, Africa, South and Central America.

In January of this year, Maersk and IBM launched a joint venture that applies blockchain technology to create a transparent, indelible trail of each transaction. The solution is designed to promote the sharing of information within the global trade ecosystem, which in turn can reduce costs, improve productivity and speed the delivery of goods shipped around the world.

Holt Logistics said that it has become the first independent port operator in the northeastern United States to pilot the blockchain platform. The aim is to reduce the need for multiple records that are currently produced at each point in the shipping chain.

Thomas J. Holt III, Business Development Manager for Holt Logistics, said the investment in the blockchain platform, albeit different from recent hard asset investments like the crane purchases and facility enhancements, is another investment in the future of the Port of Philadelphia. He added that the pilot is designed to reduce costs and significantly improve the Port’s ability to add value to the customer.

“Our industry generates enormous amounts of paper work and data,” said Holt. “We believe that blockchain technology will increase both information velocity and validity throughout the supply chain, unlocking billions of dollars in value for stakeholders each year. We are delighted to be a first mover with Maersk and IBM in adopting this technology platform here in the Ports of Philadelphia. This technology represents the future of our industry, and we are pleased to be a leader in putting it to work for our customers.”

Since its launch, the Maersk-IBM blockchain platform is being tested by a number of selected partners interested in developing smarter processes for trade, including logistics firm Agility, DuPont, Dow Chemical, Tetra Pak, Port Houston, Rotterdam Port Community System Portbase, the Customs Administration of the Netherlands, US Customs and Border Protection.