In our latest quarterly issue: Recent eBL interoperability milestones in container shipping, digital trade challenges & opportunities amid geopolitical tensions and tariff uncertainty, harnessing innovative tech such as AI to digitalize oil & gas operations, legislative efforts to align with MLETR + much more! + SUBSCRIBE

Industry News & Views

IMO to develop global strategy for maritime digitalization: During its 49th session in London, IMO’s Facilitation Committee (FAL) outlined a work plan for developing the IMO Strategy on Maritime Digitalization, set to be adopted by the Organization’s highest governing body – the IMO Assembly – by end 2027 (source: IMO). + READ MORE

Geopolitics, sanctions, and trade finance: Challenges for UCP 600 and documentary credits: Trade finance expert, Dave Meynell, explores the impact of geopolitics and economic sanctions on the application of UCP 600, the globally recognised, apolitical rules governing the use of documentary credits in international trade (source: ICC Academy). + READ MORE

Trade war looms as Trump’s tariffs go live: Coverage of global trade tensions sparked by US President Donald Trump's import tariffs, which are expected to affect the container shipping sector the most, as many tanker and dry bulk commodities have so far been exempted (source: Port Technology). + READ MORE

India modernises bill of lading law to align with global trade standards: Recent amendment addresses legal certainty in shipping documents, complementing India’s broader efforts to adopt electronic transferable records (ETRs), aligning with the UNCITRAL Model Law on Electronic Transferable Records (MLETR) (source: TFG). + READ MORE

DCSA releases final versions of Booking 2.0 and Bill of Lading 3.0 standards: Digital Container Shipping Association (DCSA) announces the release of the final versions of its Booking 2.0 and Bill of Lading 3.0 standards, introducing features to bolster security, regulatory compliance, and visibility (source: DCSA). + READ MORE

Report Sees Long-Term Benefits of Digitalization for Oil and Gas Industry: Recent GlobalData report examines digitalization efforts in oil & gas operations, incl. highlights from initiatives involving majors such as ADNOC, BP, Chevron, ExxonMobil, Shell and TotalEnergies  (source: Journal of Petroleum Technology). + READ MORE

ICE Digital Trade hedges bets on interoperable eBLs: Marina Comninos, Co-Head, ICE Digital Trade, recently spoke with GTR as part of its coverage of two recent milestone interoperable eBL transactions, showcasing two ways in which solutions can interoperate: ‘Originating Platform’ and ‘Handover’ (source: GTR). + READ MORE

Poly-crisis is driving trade finance digitalisation: An exploration into how geopolitical and economic crises are changing how corporates are tackling trade finance digitalisation, arguing that the future will extend well beyond simply digitising existing process (source: Deutsche Bank ‘Flow’ Magazine). + READ MORE

eBLs – progress on key issues and hot topics: Key takeaways from a recent HFW eBLs seminar in Geneva, where ICE Digital Trade Co-Head, Marina Comninos, gave the keynote speech, followed by a panel discussion exploring innovative use cases for eBLs in trade finance, interoperability efforts and considerations, ‘reliable’ eBL platforms and more (source: HFW). + READ MORE

Assessing the biggest refinery technology changes by 2030: Exploring the significant advancements in refinery tech expected by 2030, including data-led and AI-driven digitization to support meeting global energy transition goals and sustainability targets (source: Offshore Technology). + READ MORE

Australia needs more than MLETR to digitise trade: As part of its submission to the Australian Government’s consultation on digital trade laws, one of the country's leading banks, NAB, argues that the entire suite of shipping docs must be digitized for real time & cost savings to be realized (source: GTR). + READ MORE

Understanding "Compliant" Electronic Bills of Lading: BIMCO shares guidance for shipowners & charterers following the IG P&I’s introduction of a ‘streamlined process’ for approving eBL platforms that are limited to using eBLs subject to laws that recognise their validity as equivalent to paper (source: BIMCO). + READ MORE

Shaping AI rules through trade agreements: Trade and trade policy experts examine the inclusion of Artificial Intelligence provisions in Preferential Trade Agreements (PTAs), which are progressively evolving to include elements addressing the broader implications of emerging technologies (source: UNESCAP). + READ MORE

ICE’s Stuart Williams Dives Into the Data Side of Market Growth: ICE COO, Stuart Williams, discusses the surge in messaging traffic across ICE’s markets and the key role of data management in this expansion, at the recent Futures Industry Association (FIA) conference in Boca Raton, Florida (source: SmartBrief). + READ MORE

ICE Digital Trade News

ICE CargoDocs interoperable eBLs go live in container transaction involving Mitsui, PIL and CrimsonLogic: Marking the successful outcome of a project awarded by the Maritime and Port Authority of Singapore (MPA) to develop an interoperable eBL solution leveraging Singapore Law and focusing on container shipping. + READ MORE

Cross-Platform eBLs become a reality as OOCL and a major oil and gas company go live: In a milestone transaction enabled by ICE Digital Trade & IQAX’s interoperable eBL solution and GSBN supplying the critical security layer, delivering on all four key components of eBL interoperability. + READ MORE

Baffinland achieves 99% paperless BLs with ICE CargoDocs, setting a new record for eBL adoption in Metals & Minerals: The leading Canadian high-grade iron ore producer becomes the first company in the metals & minerals commodity segment to achieve this record. + READ MORE

South32 subsidiary, Samancor Marketing, goes live with ICE CargoDocs eBLs for manganese ore exports:  Westpac, Bank of China and Bank of Communications supported the digital execution of the recent transaction, leveraging ICE CargoDocs’ ePresentation capabilities. + READ MORE

ICE Access Agreement Approved by IG P&I for eBL Interoperability: The ICE Access Agreement 2024.1 has received approval by the International Group of P&I Clubs, confirming that ICE CargoDocs eBLs can be transferred to users on other electronic bill of lading platforms approved by the IG P&I for interoperable eBLs. + READ MORE

ICE Digital Trade in Numbers