PSA, CrimsonLogic unit to build digital trade platform

File photo showing a PSA International port terminal in front of Singapore's central business district.
File photo showing a PSA International port terminal in front of Singapore's central business district.PHOTO: REUTERS

SINGAPORE - PSA International has teamed up with a unit of CrimsonLogic to develop a global common trade and supply chain platform.

PSA Group CEO Tan Chong Meng said during his keynote speech at TOC Asia on Tuesday morning (April 24) that the new platform called Calista, will connect the physical and non-physical elements of global supply chain in a digital ecosystem.

Mr Tan explained that logistics is a "3D" industry that goes beyond the physical flow of goods. It also overlaps with regulatory and financial activities.

The PSA chief said that the port and terminal operator has "secured interest" of DBS Bank in this new platform.

TOC Asia is a co-location event held in conjunction with the Singapore Maritime Week 2018.