Oiltanking joins forces with Singapore authorities and industry partners to enhance digitalization in the Supply Chain
Oiltanking announced today that 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 digitalization. This follows the announcement of the collaborative industry-led initiative made by Mr. Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies, Singapore, at the Asia Tech x Summit today.
In his speech at the Asia Tech x Summit, Mr. Heng Swee Keat emphasized that 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 Southeast Asia, Oiltanking Asia Pacific.
Oiltanking is joined by Infocomm Media Development Authority (IMDA), Trafigura Group, PSA International (PSA), Jurong Port, DBS Group (DBS), Oversea-Chinese Banking Corporation Bank (OCBC), Standard Chartered Bank (SCB), United Overseas Bank (UOB) Pacific International Lines (PIL), and Ocean Network Express (ONE) in the group of founding shareholder of the SGTraDex consortium. For more than three decades, Oiltanking Singapore has owned and operated three terminals in Singapore with over 2.2 million cbm of oils, gases and chemicals storage. Active since 1972, Oiltanking is one of the largest independent tank storage providers for gas, chemicals, and petroleum products worldwide.
Oiltanking GmbH is a subsidiary of Marquard & Bahls, an agile, independent holding company in the energy & chemical sector. Oiltanking is one of the largest independent tank storage providers for gas, chemicals and petroleum products worldwide. The company owns and operates 45 terminals in 20 countries in the Americas, Europe, Middle East, Africa, and Asia Pacific including China and India. Oiltanking has an overall storage capacity of more than 18.5 million cbm.