Source: Taiwantrade | Updated: 01 June 2018
Singapore’s PSA International is partnering with CrimsonLogic’s subsidiary GeTS to develop ‘CALISTA’, a global common trade and supply chain platform, to facilitate trade and help shippers better manage issues such as the physical movement of goods, trade finance and compliance.
The platform’s initial development stage is estimated to cost 20 million SGD and has already attracted companies and organizations such as the Development Bank of Singapore (DBS), Singapore Ministry of Trade and Industry (MTI), Singapore Economic Development Board (EDB), and Singapore’s National Trade Platform (NTP) toward collaboration. DBS, in particular, will be providing various financial and banking technology services, offering users trade financing solutions and necessary risk management frameworks.
In a joint news release dated April 24, the two companies stated that many inefficiencies are present in the current global supply chain, especially in relation to a lack of standardized data between parties, and the financial risks associated with payment and insurance. The CALISTA platform enables manufacturers to receive direct information about their goods on the move, and logistics service providers (LSPs) can develop supply chain solutions with higher value-adding potential for their customers.
Mr. Tan Chong Meng, Group CEO of PSA, says that global platforms like CALISTA will propel the global supply chain toward digitalization. As an open platform, it will increase collaboration among manufacturers, LSPs, and other stakeholders. As disruptive technology and new parties join the industry, the supply chain has entered a new realm. The advancement of 3D printing, for example, enables anyone to become a ‘manufacturer’ so in the future, shippers may carry raw materials needed for 3D printing instead of large quantities of goods.
To keep up with these changes, PSA has constructed a megaport in Tuas, Singapore. Not only has the megaport doubled cargo-carrying capacity and container transportation abilities, it is also home to the newest smart and automated technologies. PSA is also involved in the Chongqing Connectivity Initiative - Southern Transport Corridor collaboration project, performing multimodal transport mainly via railway and marine shipping. The newly launched CALISTA platform further increases the flow options and flexibility of freight suppliers, collaborating with global supply chain companies to provide effective solutions.
Source: Economic Division, Taipei Representative Office in Singapore
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