Oiltanking has announced it is a founding shareholder of Singapore Trade Data Exchange (SGTraDex), a Singapore-driven Public-Private partnership aimed at reshaping the local supply chain ecosystem through digitalisation.
The Common Data Infrastructure (CDI) based initiative will provide the platform to enhance interoperability amongst supply chain ecosystem players and enable neutral, trusted, and secure data flows. Accelerated by COVID-19, the initiative is a response to the regionalization of trade flow and supply chains.
Since April 2020, as part of this initiative, Oiltanking has represented the storage industry in the development of two out of the three Use Cases that aim to strengthen trade finance and improve operational efficiency. These pilots are essential components to enhance the sustainability and resilience of global supply chain. As SGTraDex embarks on the next stage of development of current and new Use Cases, Oiltanking looks forward to bringing its commodity trading ecosystem partners on board this digitalization journey.
‘Oiltanking is proud to join the industry-led Public-Private Partnership SGTraDex initiative to enhance digitalization in the supply chain. In collaboration with Singapore authorities and our valued founding partners, we look forward to realizing significant gains in key areas such as utilization of assets, process efficiencies, and building trust and transparency in the Singapore ecosystem,’ says Snehashish Chatterjee, vice president for southeast Asia at Oiltanking Asia Pacific.