On February 15, the official website of the Digital Container Shipping Alliance (DCSA) announced that 9 of the world's top 10 shipping companies have pledged to digitize 50% of their original bill of lading within 5 years, namely, adopting electronic bill of Lading (eBL) based on the DCSA standard, and 100% by 2030, in order to accelerate the digitalization of container trade.

The Digital Container Shipping Association (DCSA) announced February 15 that its nine Marine carrier members -- MSC, Maersk, CMA CMA, HPL, EMC, ONE, HMM, YML, ZIM -- have committed to 100% adoption of electronic bill of Lading (eBL) based on the DCSA standard by 2030. Moving away from paper bills of lading could save stakeholders $6.5 billion in direct costs, increase global trade by $30-40 billion a year, transform customer experience and improve sustainability.

Bill of lading is one of the most important trade documents in container transportation. It serves as a document of ownership of the goods, a receipt for shipments and a record of agreed terms and conditions. Marine carriers issue about 45 million bills of lading each year. In 2021, only 1.2 percent of them were e-bills of lading. Paper-based manual processes are time-consuming, expensive and environmentally unsustainable for stakeholders in complex supply chains. Document exchange through electronic bill of lading conversion will accelerate digitization to the benefit of customers, banks, customs, government authorities, Marine service providers and all Marine supply chain stakeholders.

Thomas Bagge, CEO of DCSA, said, "The digitization of international trade holds enormous potential for the world economy by reducing friction, and as trade brings prosperity, Bill of Lading eBL will further boost trade and lift millions out of poverty. It heralds the start of a new era in container shipping as the industry transitions to mass automation and completely paperless trade. Document digitization has the power to transform international trade and requires the cooperation of all stakeholders. I applaud our members for their leadership in coming together to achieve this important milestone."

Shenzhen Xunlaitong specializes in shipping export from Shenzhen to Australia & New Zealand, Germany, Netherlands and more business

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