Shipper’s Spending Spree Continues with Minority Stake in Dutch Tech Firm
Norway-based shipping company Wallenius Wilhelmsen has purchased a minority stake in Vinturas, a Dutch blockchain business that specializes in digital network solutions for the global vehicle industry.
Blockchain, widely used by cryptocurrencies, is a decentralized ledger that can offer a single contact point for all stakeholders involved in a project. Information is stored in so-called blocks and linked together using secure cryptography.
The breakbulk handler said the move would strengthen its end-to-end supply chain capabilities, allowing its customers to track and manage all data related to the movement of a vehicle.
“The Vinturas blockchain solution is particularly exciting. It is different from traditional event-based platforms that access and monetize customer data,” said Simon White, chief digital officer at Wallenius Wilhelmsen.
“Instead, Vinturas provides a secure, private network where partners can collaborate and share data only with selected partners. Traditional information silos that exist across the supply chain will be a thing of the past. It is a far more scalable solution than traditional point-to-point integration.”
The Vinturas stake is the latest in a series of investments at Wallenius Wilhelmsen.
Last October the Oslo-headquartered company invested in British tech firm DeGould to accelerate the supply of automated inspection systems that use AI algorithms to deliver vehicle condition reporting.
More recently the company has invested in the Swiss online equipment platform Equippo, and acquired full control of project cargo specialist Abnormal Load Services.
Wallenius Wilhelmsen, which operates a fleet of 130 vessels, nine terminals and 65 processing centres, will be exhibiting at Breakbulk Europe, taking place on 17-19 May in Rotterdam.
PHOTOS:
TOP: Parsifal Vehicles Carrier CREDIT: Wallenius Wilhelmsen
INSERT: Ronald Kleijwegt, CEO Vinturas, and Simon White CREDIT: Wallenius Wilhelmsen
