You are likely reading this on a digital device. In the last week you’ve probably done your banking, communicated, and maybe even booked a flight, an Uber or a holiday — all digitally. You may even find it hard to remember when you last needed a paper document.
Yet in international shipping, almost 96% of trade documents are still paper–based. 111 billion metric tons of cargo shipped every year, with 44.5 million paper documents.
But that is all changing.
In February 2023, DCSA announced a multi-carrier agreement to get to 100% usage of electronic Bills of Lading (eBL) by 2030.
The benefits of the eBL are many and huge. In the announcement, DCSA wrote: “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.”
As the most important document in shipping, digitalising the Bill of Lading will be the first major step in the digital revolution of documentation in shipping.
But what exactly is the eBL, how does it work, how is it currently used, and how exactly will we move to 100% industry adoption by 2030?
That’s what this e-paper is about.
Our intention is for this to be a useful guide for anyone involved in the transition
from paper Bill of Lading (BL) to eBL and to help shed light on what is required
next to make 100% eBL become a reality. We’ve overcome the first big hurdles (creating the standard, setting industry-wide targets), but now a new set of challenges arise, which must also be addressed head-on, in the quest for industry-wide adoption.
This is an exciting time for shipping and we’re fortunate to be part of the early phase of this digital transformation that will do so much for the industry.
We thank you for reading and for your support and interest.
Source: MSC