Pacific International Lines (PIL), SGTraDex, and KPI OceanConnect have achieved a significant milestone by completing full integration for worldwide transactions via the SGTraDex platform
SINGAPORE, Jan. 29, 2024 /PRNewswire/ -- Pacific International Lines (PIL) has successfully completed full integration with the Singapore Trade Data Exchange (SGTraDex) platform, making PIL the first shipping line to do so. This achievement, realised through a collaborative effort with KPI OceanConnect, signifies a transformative step towards global digitisation in PIL's maritime operations.
The integration, initiated in early 2023 and concluded in December the same year, has enabled PIL to leverage SGTraDex to improve the way transactions are conducted with its stakeholders including suppliers and financial institutions. This is another key step forward in improving efficiency and transparency in maritime operations.
As part of the integration, PIL successfully executed an overseas bunkering transaction with KPI OceanConnect, a leading global provider of marine energy solutions, with this innovative transaction demonstrating the feasibility of using SGTraDex for transactions beyond Singapore. The landmark transaction demonstrated the data highway's potential to streamline complex processes and facilitate smoother collaborations between shipping lines and their beneficiary chain of organisations.
Since the successful overseas bunkering transaction, PIL has completed more than 40 transactions through SGTraDex. The adaptability of SGTraDex is evident in its ability to handle a diverse range of transactions, showcasing its relevance across the maritime sector.
Prior to this integration, PIL had to export and email documents to suppliers, who then manually uploaded key information onto the e-invoicing portal.
With the integration, suppliers who are API integrated with SGTraDex can seamlessly push or upload documents to PIL directly from their own ERP systems. This eliminates the need to navigate through multiple systems, addressing a major pain point for bunker procurement. PIL estimates that this integration could potentially result in an overall 30% time savings once other suppliers adopt SGTraDex, significantly improving efficiency for all stakeholders involved.
"What we have achieved at PIL with our partners demonstrates that collective commitment and efforts are indeed useful and effective in improving efficiency through digitalisation for the maritime industry. We are sharing our positive experience on this successful integration with SGTraDex on bunkering operations so that members of the maritime industry would continue to pledge their support for this initiative." says Goh Chung Hun, Head, Fleet Division, PIL.
SGTraDex's robust platform not only facilitates seamless transactions but also transforms the way the maritime industry operates. This integration signifies a shift towards a more interconnected and efficient maritime ecosystem, ultimately benefiting all stakeholders involved.
Looking ahead, SGTraDex envisions a future where digital integration becomes the norm, leading to increased collaboration, reduced operational costs, and enhanced overall efficiency within the maritime sector. The successful collaboration with PIL serves as a source of encouragement for other industry players to embrace digital transformation for a more connected future.
"We are thrilled to witness the successful integration of SGTraDex with PIL, and the subsequent transactions affirm the platform's effectiveness. This achievement is a testament to the collaborative spirit within the maritime industry and paves the way for a future where digital solutions seamlessly enhance operations," says Head of Operations & Business Development, Kelvin Ling at SGTraDex.
KPI OceanConnect, a key partner in this global integration journey, emphasises the significants of this achievement as an early adopter of SGTraDex. The successful overseas bunkering transaction with PIL is a critical step forward in digitising the information and business chain on a global scale.
"This milestone is a testament to the collaborative efforts of PIL, KPI OceanConnect, and SGTraDex in driving global digitisation in maritime operations. As an early adopter of the SGTraDex platform, KPI OceanConnect is proud to be part of this innovative and transformative journey. The successful overseas bunkering transaction exemplifies the platform's effectiveness, and we believe this integration will set new standards for efficiency and collaboration worldwide. This achievement reflects our dedication to advancing industry-wide innovation and reinforces our belief in the power of digital solutions to shape the future of maritime trade" says Henrik Zederkof, Head of Global Accounts at KPI OceanConnect.
SGTraDex, PIL, and KPI OceanConnect believe that this integration is a turning point for the maritime industry, demonstrating the power of collaboration and digital transformation. The successful completion of this milestone sets the stage for further innovations and advancements within the maritime sector.
About KPI OceanConnect
KPI OceanConnect is one of the world's largest and most experienced independent marine energy service and solutions providers. For more than 50 years, KPI OceanConnect has been fuelling global trade through its partnership approach, innovative solutions, and ability to expertly guide its clients through new and evolving challenges.
By combining the expertise of its global workforce with market-leading technology, innovation, and financial strength, KPI OceanConnect creates long-term value for its partners. KPI OceanConnect is a trusted leader in the transition to low carbon energy and is committed to providing solutions to enhance the shipping industry's contribution to a cleaner and healthier planet.
KPI OceanConnect's teams of experienced professionals deliver trusted expert counsel from offices in Athens, Doha, Hamburg, Hong Kong, Houston, Istanbul, Jakarta, London, Miami, Middelfart, New York, Rotterdam, Seattle, Seoul, Singapore and Tokyo.
Find out more by visiting: https://kpioceanconnect.com/
About Pacific International Lines
Incorporated in 1967, Pacific International Lines (PIL) is ranked 12th among the world's top container shipping lines and is also the largest home-grown carrier in Southeast Asia. From a modest ship-owner in Singapore, PIL has developed into a global carrier with a focus on China, Asia, Africa, Middle East, Latin America and Oceania. Together with its sister companies Mariana Express Lines (MELL) and Malaysia Shipping Corporation, PIL serves customers at over 500 locations in more than 90 countries worldwide with a fleet of around 100 container vessels. Apart from the core liner shipping business, PIL also has several other business units such as container manufacturing, depot and logistics services.
About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is a digital utility that facilitates the sharing of data between supply chain ecosystem partners, streamlining information flows through a common data highway where data can be shared in a trusted, secure and inclusive manner. SGTraDex uses proprietary technology anchored through a public-private partnership model to resolve pain points in supply chain ecosystems including a heavy reliance on a paper-based system which lacks efficiency, transparency and sustainability. The move to digitise information will increase productivity and build supply chain resilience. New efficiencies and opportunities will be unlocked when ecosystem partners can collaborate to achieve a shared visibility of the end-to-end supply chain. For more information, visit sgtradex.com
