Rise of Electronic Bills of Lading in Shipping
Latest container shipment shows electronic bills of lading (eBLs) becoming more prevalent in world trade, with many carriers moving from early trials to full adoption
Bolero's Role in Advancing eBL Adoption
Bolero has confirmed that a full ePresentation involving a container electronic bill of lading (eBL) has been undertaken over its cloud-based platform, reflecting the growing demand for container eBLs among carriers and shippers. BHP Billiton sent a shipment from Australia to China, via the carrier company Pacific International Lines.
“Having worked in container carrier operations teams for many years, it’s incredibly pleasing to see the use of eBLs becoming more and more prevalent in container shipments,” said Bolero Carrier Product Manager, Aline Bezerra.
“Bolero has listened closely to the container industry and their feedback on transactions carried out in 2012 and 2013. This feedback was incorporated into the Bolero solution. Since then adoption has risen significantly, with multiple carriers now using container eBLs smoothly and with full confidence.”
Importance of Container Shipping in Global Trade
Global seaborne container trade is believed to account for approximately 60 percent of all world seaborne trade, and was valued at around 5.6 trillion U.S. dollars in 2010. The quantity of goods carried by containers has risen from around 100 million metric tons in 1980 to about 1.5 billion metric tons in 2012. In 2012, the global cellular container ship fleet had the capacity to carry some 15.4 million standard containers.
BIMCO Endorsement Boosts eBL Legitimacy
In May, the shipping association BIMCO recognised the rising use of eBLs by adopting a new clause that effectively gives eBLs the same status as paper bills of lading under the terms of charter party agreements. Normal insurance liabilities are covered by the P&I clubs to the same extent when using eBLs as their paper equivalent.
