The Digital Container Shipping Association (DCSA) announced on 15 May the first successful standards-based, interoperable electronic Bill of Lading (eBL) transaction.
The transaction was made possible through collaboration with eBL solution providers and marks a significant advancement toward secure, scalable and paperless global trade. Despite the availability of digital alternatives for years, eBL adoption has remained constrained by platform fragmentation.
As stated, the industry’s digital transformation has been hindered by siloed eBL platforms requiring all transaction participants to use the same solution provider. This approach has prevented the widespread adoption needed to capture the estimated $6.5 billion in direct cost savings and $40 billion in increased trade that electronic Bills of Lading can deliver, according to McKinsey & Company research.
Furthermore, more IGP&I approved eBL solution providers are updating their legal frameworks and implementing the interoperability components, according to the DCSA.
Enigio and CargoX are preparing an interoperable transaction with HMM and a Fortune 500 shipper in Q2. WaveBL and TradeGo are preparing their first interoperable transaction with DCSA member-carrier ONE and a large freight forwarder.
The foundation for the digital exchange of shipping documentation and data is in place. With DCSA standards and interoperability protocols ready, seamless eBL exchange is no longer a myth, it’s a reality. The time to act is now: adopt eBLs and help drive the future of digital trade.
…said Niels Nuyens, Chief Product Officer, DCSA.
Nuyens continued by commenting that these developments reflect years of collaboration between the association, member-carriers, shippers and eBL providers, all driven by one common goal, for 100% eBL adoption by 2030.
What began as an industry ambition has transformed into tangible progress, opening the door to a new era where global trade documentation moves at the speed of business, not paper.
…Niels Nuyens highlighted.
