Portcast and SGTraDex Collaborate toStrengthen Trade Finance Data Integrity
Singapore, June 20th, 2024: Portcast and SGTraDex forge partnership to strengthen tradefinance data integrity for the shipping industry. Portcast is slated to send Bills of Lading (BLs)data through SGTraDex for shipping containers financed by any bank.
SGTraDex can facilitate financing verification services by connecting to the Trade FinanceRegistry, a utility designed by the Association of Banks in Singapore (ABS) and supported by
the Monetary Authority of Singapore (MAS) that serves as a registry of all trade financetransactions financed by banks in Singapore.
For financial institutions, this service mitigates the risk of duplicate financing and guarantees thelegitimacy of clients' trading activities. In the event of any duplicated or illegitimate transactions,the system promptly notifies participating banks in near real-time, enabling swift action.
For bulk traders and shippers, this service provides crucial milestone data from their supply
chain partners. Armed with reliable, real-time information, shippers can monitor shipment
movements, facilitating timely interventions in case of delays. This leads to improved supply
chain planning and elimination of disruptions. Carriers will benefit from smoother and more
efficient cargo transfers, enhancing overall logistics and operational efficiency.
This service offers significant advantages to shipping lines, financial institutions, shippers, andlogistics operators. Carriers and banks yet to join this initiative can easily participate, leveraging
the enhanced security and reliability it affords. The technology is scalable and adaptable,
ensuring seamless integration across various platforms.
SGTraDex advocates for the transition to digitised trade transactions, leveraging verified
electronic documents and data exchange to move away from the traditional paper-basedsystem, which is fraught with inefficiencies and the prevalence of fraud. Portcast's provision of
BL data for shipping containers aligns perfectly with SGTraDex's broader objective oftransitioning the supply chain towards secure, digitised trade transactions.

About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange (SGTraDex) is a digital utility
that facilitates the sharing of data between supply chain ecosystem partners, streamlining
information flows through a common data highway where data can be shared in a trusted,secure and inclusive manner.

SGTraDex is a public-private partnership founded by IMDA, PSA, Trafigura, DBS, Jurong Port,OCBC, ONE, Advario, PIL, Standard Chartered, and UOB. Its proprietary technology aims toresolve pain points in supply chain ecosystems, including a heavy reliance on a paper-based
system that lacks efficiency, transparency, and sustainability.
The move to digitise information will increase productivity and build supply chain resilience. Newefficiencies and opportunities will be unlocked when ecosystem partners can collaborate toachieve shared visibility of the end-to-end supply chain.
For more information, visit sgtradex.com

About Portcast
Portcast is a leading supply chain visibility provider that adopts a data-first approach. Withadvanced analytics and cutting-edge technology at the core, Portcast's solutions, including
Real-Time Container Tracking and Exceptions Management, transcend conventional tracking
methods of shipments. These solutions empower stakeholders worldwide to improve their
supply chain resilience.
For more information, visit: www.portcast.io