In an encouraging development for trade digitalisation, BIMCO's "25 by 25" campaign has surpassed its initial target within its first year, achieving a 25.1% adoption rate of electronic bills of lading in iron ore trade.
The Digital Container Shipping Association (DCSA) has published a promising report highlighting positive eBL law reforms, emphasising the potential of electronic bills of lading to save $6.5 billion in direct costs and boost global trade by $30-40 billion annually.
The results of the survey of members of the respective organisations of the Future International Trade (FIT) Alliance, including BIMCO, show that an overwhelming majority (86%) believe that electronic bills of lading are the key to unlocking the digital transformation of global trade and shipping.
Explore BIMCO's standard mate's receipt, a tool for harmonising bulk shipping processes and easing the transition to digitalisation. Get your free copy here.
Oswald Kuyler, Chief Operating Officer at MonetaGo, writes about how digitalisation can create a more secure shipping industry
