INGAPORE – A new digital infrastructure for the shipping industry aims to smooth out the kinks in cargo handling processes, anchoring ways for logistics players to optimise operations.

This could unlock more than US$150 million (S$202 million) of value for the supply chain ecosystem in Singapore each year, said Deputy Prime Minister Heng Swee Keat on Tuesday (July 13).

He hailed the service, called Singapore Trade Data Exchange, as a breakthrough for the industry, which is at present marked by “significant inefficiencies”.