Digital Container Shipping Association(DCSA) today announces 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 growth¹, transform the customer experience and improve sustainability.
The bill of lading is one of the most important trade documents in container shipping. It functions as a document of title, receipt for shipped goods and a record of agreed terms and conditions. Ocean carriers issue around 45 million bills of lading a year. In 2021, only 1.2%of these were electronic.²
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.
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.
Thomas Bagge, Chief Executive Officer (CEO), DCSA said: “The digitalisation of international trade holds vast potential for the world economy by reducing friction and, as trade brings prosperity and 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. I applaud the leadership of our members in coming together to achieve this important milestone.”
For more information:
dcsa.org