From paper to golden sources: how digitalisation can create a more secure shipping industry

In the wake of recent high-profile frauds, building trust and transparency has become an urgent priority for the bulk shipping industry. Digitalisation is a key tool in achieving this goal, as it allows for the creation of multiple "golden sources" of data that promote end-to-end integrity – reducing the risk of fraud and driving sustainable growth. This article is by Oswald Kuyler, Chief Operating Officer at MonetaGo. See him at our webinar " Reducing fraud through digitalisation " on 9 May.

BIMCO WEBINAR: Electronic bills of lading - Reducing fraud through digitalisation

With special guest speaker Oswald Kuyler, Chief Operating Officer of MonetaGo.

MPA supports eBL 25 by 25 campaign

The Maritime and Port Authority of Singapore (MPA) is supporting BIMCO’s 25 by 25 Campaign to accelerate the adoption of electronic bills of lading (eBLs) in the bulk sector.

BIMCO and global mining companies release position paper on trade digitalisation

It is estimated that 4 billion trade documents are in circulation around the world at any given time, increasing costs, delays and risk of errors. To fuel a transition away from paper-based trade, four of the world’s largest mining companies; Anglo American, BHP, Rio Tinto and Vale have published a position paper, together with BIMCO, that proposes solutions and aims to accelerate the adoption of digital technologies across the metals and mining supply chain.

Industry groups take important step towards electronic bills of lading

BIMCO is a founding member of the Future International Trade Alliance to facilitate acceptance and adoption of electronic bills of lading. We see this as helping to accelerate the digitalisation of global trade.

BIMCO joins the Blue Visby Consortium to support digitalisation

BIMCO has joined the Blue Visby Consortium to support research into practical solutions that help reduce the industry’s greenhouse gas (GHG) emissions.

Global supply chain issues cement the need for shipping industry’s digitalisation

The container shipping market is currently making many headlines world-wide as freight rates and port congestion continue to reach new record highs. At the end of September, more than 50 container ships were waiting to berth outside the ports of Los Angeles and Long Beach alone and 90% of those arriving at a port had to wait at anchor before a berth became available. COVID-19 disruption at major Chinese and Vietnamese ports has also added to the long queues of ships, and certain ports are now being deliberately avoided by liners.

BIMCO Electronic Bill of Lading Standard important first step towards trade digitalisation

The bill of lading is arguably the most important of all the trade documents used in shipping and is the key to unlocking the paper handcuffs that constrain shipping’s digital transformation. BIMCO is collaborating on technology agnostic common data standards through the Future International Trade (FIT) Alliance whose members include the DCSA, FIATA, the ICC and SWIFT.

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