Electronic bill of lading | eBL

An electronic bill of lading (eBL) is a digital version of the traditional paper-based bill of lading, which is a legal document that is used in international trade to confirm receipt of goods and their shipment to the destination. eBLs offer several advantages over paper bill of lading, including faster processing times, improved accuracy, reduced costs, and increased security.

Instead of being printed on paper and physically transferred between parties, an eBL is created, signed, and transmitted electronically through a secure digital platform. The eBL contains all the necessary information about the goods being transported, including details about the shipment, the parties involved, and any applicable terms and conditions.

The use of eBLs is becoming increasingly common in the shipping industry, with several blockchain-based platforms being developed to facilitate secure and efficient eBL transactions. These platforms use distributed ledger technology to create a tamper-proof record of each eBL transaction, ensuring that the document is authentic and cannot be altered or duplicated.

While the use of eBL is still relatively new, they offer significant benefits to the shipping industry, including reduced costs, increased efficiency, and improved security. As more companies adopt eBL, it is likely that they will become the preferred method of documenting international trade transactions.

The shift to electronic bill of lading by 2030 is a feasible possibility, but it will require significant effort and collaboration among stakeholders in the shipping industry.

Bill of lading is a legal document which used in international trade to verify that goods are received and those are being transported. They are traditionally paper-based, which can lead to delay, error, and fraud. Electronic bill of lading (eBL) offer a more efficient and secure alternative, enabling the digital transfer of ownership and reducing the need for physical document handling.

Several initiatives and technologies are already in place to facilitate the adoption of eBL. For example, the International Chamber of Commerce (ICC) has published a set of rules for eBL, and various blockchain-based platforms have been developed to enable secure and efficient eBL transactions.

However, widespread adoption of eBL will require buy-in from all parties involved, including shippers, carriers, banks, and regulators. The transition may also involve changes to existing legal frameworks and industry standards.

Below container shipping lines are the members of DCSA - Digital Container Shipping Association and they are committed that they will use only eBL by the year 2030.

Maerks, MSC, CMA-CGM, ONE, Evergreen, Hapag-Lloyd, HMM, Yang Ming, ZIM

While it is difficult to predict the exact timeline for such a shift, many industry experts believe that the next decade will see significant progress towards the adoption of eBL. With the benefits of improved efficiency, cost savings, and reduced fraud, the move towards eBL is likely to continue to gain momentum in the years to come.