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Pacific International Lines (PIL), SGTraDex, and KPI OceanConnect have achieved a significant milestone by completing full integration for worldwide transactions via the SGTraDex platform
Posttime：2024-01-31 09:42:26
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Pacific International Lines (PIL), SGTraDex, and KPI OceanConnect have achieved a significant milestone by completing full integration for worldwide transactions via the SGTraDex platform
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.
Source: PIL