Mediterranean Shipping Company has committed to transitioning to a fully standardised electronic Bill of Lading (eBL) by 2030, with an intermediate target of 50% within five years.
The eBL is the electronic version of the traditional, paper-based Bill of Lading (BL), one of the most important trade documents in container shipping. The eBL replicates the exact same functions as a paper BL, but in digital form, thereby offering a more efficient, secure and sustainable alternative.
“Moving to 100% eBL will contribute towards our climate goals, as we move towards net-zero 2050,” says MSC CEO Soren Toft.
MSC was one of the earliest adopters of the eBL. “Our MSC eBL solution was launched in April 2021 after a two-year pilot project in India and at a perfect time in the industry considering the delayed delivery of paper BLs during the Covid-19 pandemic,” he added.
“The eBL is accessible 24/7 from any device or location and the technology enables eBLs to be transmitted in minutes, compared to days or weeks, leading to significant cost savings, faster payment processes, and reduced administration for users.
“Offered via the blockchain-based WAVE BL platform, MSC eBL is fully secure. Documents are encrypted on upload and data is secured using automatic verification and authentication, so there is no risk of documents ending up in the wrong hands. Blockchain-based transfer of data also helps to eliminate the risks of document forgery, theft or loss, as compared to the transportation of paper-based BLs.”
The 100% eBL commitment has been signed by the eight other ocean carrier members of the Digital Container Shipping Association (DCSA), representing a significant step forward in the digitalisation of global container trade.
Reaching the ambitious target of 100% adoption will, however, only be possible if the entire maritime supply chain is on board. “This is why MSC and the other DCSA carrier members are asking that all stakeholders – from shippers and forwarders to governments, financial institutions and insurance agencies – work together to make this commitment a reality.”
