THANK YOU FOR SUBSCRIBING
The Future International Trade (FIT) Alliance, formed by the Digital Container Shipping Association (DCSA), BIMCO (one of the largest of the international shipping associations representing shipowners), FIATA International Federation of Freight Forwarders Associations, International Chamber of Commerce, and Swift, has recently launched the "Declaration of the Electronic Bill of Lading." This initiative embodies a united front to promote the widespread adoption of electronic Bills of Lading globally.
We strongly support FIT's initiative through our CEO Alejandro Pernías testimonial: "We strongly support the standards and collaboration as means to get interoperability and, thus, speed up Ebl adoption for the benefit of the entire community. At edoxOnline we are committed to keep working with all stakeholders to make this happen. Working together on the challenges and barriers, and how to overcome them, is the only way."
The FIT Alliance was formed in February 2022 with five founding members: BIMCO, DCSA, FIATA, ICC and SWIFT. The key objectives of the FIT Alliance are to raise awareness and accelerate adoption of a standards-based electronic bill of lading (eBL) across all sectors of the shipping industry: a universal eBL.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
A universal electronic Bill of Lading (eBL) holds immense advantages for all stakeholders across the global supply chain, be it in bulk shipping or container shipping. For instance, the full-scale adoption of a standardized eBL in container shipping doesn't just benefit that sector; it has far-reaching positive implications for the entire global economy and environmental sustainability. According to McKinsey, universal eBL could:
● Save the industry $6.5 B in documentation costs vs. physical bills of lading (B/L)
● Unlock over $7 B in gains by reducing inventory and financing costs and enabling new business models
● Unlock $30-40 B in global trade growth by reducing trade friction, especially for emerging markets
● Save 28,000 trees per year and significantly reduce carbon emissions by eliminating paper.
More in News