Digital Container Shipping Association(DCSA) announced that its nine ocean carrier members commit to 100% adoption of an electronic bill of lading (eBL) based on DCSA standards by 2030.
Switching away from the transfer of physical paper bills of lading could save $6.5 billion in direct costs for stakeholders, enable $30-40 billion in annual global trade growth, transform the customer experience and improve sustainability.
The Association highlights that manual, paper-based processes are time-consuming, expensive and environmentally unsustainable for stakeholders along complex supply chains.
Paper-based processes breakdown when cargo in ports cannot be gated out because original bills of lading, or title documents fail to arrive or cannot be manually processed in time. In contrast, digital processes enable data to flow instantly and securely, reducing delays and waste.
As such, transforming document exchange through the eBL will accelerate digitalisation to benefit customers, banks, customs/government authorities, providers of ocean shipping services and all maritime supply chain stakeholders.
The eBL will further enable trade, helping bring millions out of poverty. This heralds the start of a new era in container shipping as the industry transitions to scaled automation and fully paperless trade. Document digitalisation has the power to transform international trade and requires collaboration from all stakeholders.
…Thomas Bagge, Chief Executive Officer (CEO), DCSA said
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