February 27, 2024 [Storage Terminals Magazine]- Advario Singapore, in its commitment as a partner for progress, strongly believes in the power of collaboration and sharing opportunities. In line with this belief, we are thrilled to announce the signing of a memorandum of understanding between Advario Singapore, Singapore Trade Data Exchange (SGTraDex), and PSA Marine, Singapore’s leading provider of towage, pilotage, and marine advisory services.
This collaboration brings together the expertise and capabilities of SGTraDex, PSA Marine, and Advario to further enhance the development of the Chrysalis platform. Chrysalis is a groundbreaking digital platform that holds immense potential to transform the liquid bulk sector by providing transparency and end-to-end visibility for all participants. Built on the foundation of blockchain technology, Chrysalis consolidates information into a single integrated platform, making it accessible to traders, shipping agents, surveyors, and terminal operators. By orchestrating each step of the process, Chrysalis has the capability to significantly improve efficiency across the board.
Andy Loh, VP commercial at Advario Singapore, expressed his confidence in Chrysalis, stating, “We firmly believe that Chrysalis has the power to revolutionise visibility within the liquid bulk supply chain.” He further emphasised that Advario’s efforts are expected to bring substantial benefits to the Singapore ecosystem, optimising asset utilisation, streamlining processes, and fostering trust. Advario Singapore looks forward to continuing its collaboration with PSA Marine and SGTraDex, as well as engaging commodity trading partners on this transformative digitalization journey.
The MoU signing ceremony, captured in the picture above, took place during TechWaves, a prominent maritime conference organized by SGTraDex.
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