- MSC customers will be able to receive the bill of lading electronically, without any change or disruption to their day-to-day business operations.
- Eliminating paper from the shipping transaction will make every aspect of commercial container shipping easier, faster, more effective and more secure.
- The shipping industry can save almost USD 4 billion by transitioning to an eBL.
- Electronic bills of lading (eBL) help mitigate the impact of trade disruptions on cargo flows during COVID-19.
A recent MSC news article states that MSC Mediterranean Shipping Company introduces the electronic bill of lading (eBL) for its customers around the world.
Electronic bill of lading (eBL)
MSC Mediterranean Shipping Company, a global leader in container shipping and logistics, is officially introducing the electronic bill of lading (eBL) for its customers around the world, following a successful pilot phase, using a solution on an independent blockchain platform WAVE BL.
The eBL enables shippers and other key supply chain stakeholders to receive and transmit the bill of lading document electronically, without any change or disruption to day-to-day business operations.
What is WAVE BL?
WAVE BL is a blockchain-based system that uses distributed ledger technology to ensure that all parties involved in a cargo shipment booking can issue, transfer, endorse and manage documents through a secure, decentralised network.
Users can issue all originals, negotiable or non-negotiable, and exchange them via a direct, encrypted, peer-to-peer transmission.
It’s also possible for users to amend documents. WAVE BL’s communication protocol is approved by the International Group of Protection & Indemnity Clubs, and meets the highest industry standards for security and privacy.
André Simha
Global Chief Digital & Information Officer at MSC
“MSC has chosen WAVE BL because it is the only solution that mirrors the traditional paper-based process that the shipping and cargo transportation industry is used to,” says André Simha, Global Chief Digital & Information Officer at MSC. “It provides a digital alternative to all the possibilities available with traditional print documents, just much faster and more secure.”
The WAVE BL’s use
The WAVE BL platform can be used free of charge throughout 2021 for exporters, importers and traders.
Users only pay for issuing the original documents, and they do not need to invest in any IT infrastructure or make operational changes in order to use the service.
They can simply sign up via MSC’s website: www.msc.com/eBL.
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Source : MSC
